Dave Bottoms Sells 17,013 Shares of Upwork (NASDAQ:UPWK) Stock

Upwork Inc. (NASDAQ:UPWK) insider Dave Bottoms sold 17,013 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $13.80, for a total value of $234,779.40. Following the completion of the transaction, the insider owned 15,994 shares in the company, valued at approximately $220,717.20. This represents a 51.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Dave Bottoms also recently made the following trade(s):

• On Thursday, February 19th, Dave Bottoms sold 15,649 shares of Upwork stock. The shares were sold at an average price of $13.51, for a total transaction of $211,417.99.
• On Friday, December 19th, Dave Bottoms sold 9,622 shares of Upwork stock. The shares were sold at an average price of $20.66, for a total transaction of $198,790.52.
• On Thursday, December 18th, Dave Bottoms sold 11,285 shares of Upwork stock. The shares were sold at an average price of $20.59, for a total transaction of $232,358.15.

Upwork Price Performance

NASDAQ:UPWK opened at $13.17 on Friday. Upwork Inc. has a one year low of $11.13 and a one year high of $22.84. The company has a market cap of $1.72 billion, a PE ratio of 15.68 and a beta of 1.06. The firm has a 50-day moving average of $19.03 and a 200-day moving average of $17.72.

Upwork announced that its Board of Directors has approved a share repurchase program on Wednesday, February 18th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to purchase up to 18% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Key Stories Impacting Upwork

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Board authorizes a flexible $300 million buyback (authorizes repurchases of roughly 18% of shares), a meaningful capital‑return action that can reduce float and support EPS and investor sentiment. Globe and Mail: Buyback Announcement
• Positive Sentiment: Market reaction was initially positive — coverage notes shares rose on the buyback news, showing short‑term demand lift from the announcement. Investing.com: Market Reaction
• Neutral Sentiment: Analyst / institutional context is mixed: consensus is a modest “moderate buy” with an average target (~$22.60) well above the current price, and institutions own ~78% of the stock — the buyback may prompt revisions but not unanimous upgrades. MarketBeat: Analyst & Ownership Context
• Negative Sentiment: Significant insider selling this week: CEO Hayden Brown sold 123,152 shares (~$1.7M at ~$13.80); CFO Erica Gessert and other insiders (Dave Bottoms) also reduced positions — large insider disposals can be interpreted negatively by investors. SEC filings for the CEO sale are here and the InsiderTrades writeup for other insider sales is here. CEO SEC Filing InsiderTrades: Insider Sales
• Negative Sentiment: Technicals/liquidity are unfavorable near term: shares remain well below the 50‑day moving average and today’s volume is light versus average, increasing downside volatility risk despite the buyback. MarketBeat: Technicals

Institutional Trading of Upwork

A number of large investors have recently bought and sold shares of UPWK. Accredited Wealth Management LLC lifted its position in shares of Upwork by 5,280.0% during the 3rd quarter. Accredited Wealth Management LLC now owns 1,345 shares of the company’s stock valued at $25,000 after buying an additional 1,320 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in Upwork by 998.4% during the third quarter. Clearstead Advisors LLC now owns 1,406 shares of the company’s stock valued at $26,000 after purchasing an additional 1,278 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Upwork by 594.4% during the 4th quarter. Farther Finance Advisors LLC now owns 1,361 shares of the company’s stock valued at $27,000 after buying an additional 1,165 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Upwork during the second quarter worth $30,000. Finally, Fifth Third Bancorp boosted its stake in Upwork by 2,405.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,754 shares of the company’s stock worth $33,000 after purchasing an additional 1,684 shares during the period. 77.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on UPWK. The Goldman Sachs Group reiterated a “buy” rating and set a $27.00 price target on shares of Upwork in a report on Tuesday, February 10th. Wall Street Zen upgraded shares of Upwork from a “hold” rating to a “buy” rating in a research note on Saturday. Citigroup lowered their target price on shares of Upwork from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Tuesday, February 10th. BTIG Research restated a “neutral” rating on shares of Upwork in a report on Wednesday, November 19th. Finally, Scotiabank reduced their price objective on shares of Upwork from $17.00 to $15.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 10th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Upwork currently has a consensus rating of “Moderate Buy” and an average price target of $22.60.

About Upwork

Upwork Inc operates a leading online talent marketplace that connects businesses with independent professionals worldwide. Through its digital platform, the company enables clients across industries—including technology, marketing, creative services and customer support—to source, hire and manage freelance talent on demand. Key features of the Upwork platform include streamlined job posting, proposal evaluation, time-tracking tools, invoicing and secure payment processing, all designed to simplify collaboration between clients and remote workers.

The company traces its roots to the merger of two pioneering freelance marketplaces, Elance (founded in 1998) and oDesk (founded in 2003), which combined in 2015 to form a unified entity.