GSA Capital Partners LLP Sells 49,915 Shares of Upwork Inc. $UPWK

GSA Capital Partners LLP lessened its stake in shares of Upwork Inc. (NASDAQ:UPWK) by 42.3% in the third quarter, Holdings Channel reports. The institutional investor owned 68,042 shares of the company’s stock after selling 49,915 shares during the period. GSA Capital Partners LLP’s holdings in Upwork were worth $1,264,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. LSV Asset Management grew its stake in shares of Upwork by 22.1% in the second quarter. LSV Asset Management now owns 6,534,575 shares of the company’s stock worth $87,825,000 after acquiring an additional 1,183,169 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Upwork by 93.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,862,153 shares of the company’s stock worth $34,580,000 after purchasing an additional 900,525 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Upwork in the 2nd quarter worth about $11,955,000. Millennium Management LLC grew its position in Upwork by 364.0% during the 1st quarter. Millennium Management LLC now owns 789,638 shares of the company’s stock valued at $10,305,000 after purchasing an additional 619,459 shares during the last quarter. Finally, Financial Gravity Companies Inc. bought a new stake in Upwork during the 2nd quarter valued at about $5,118,000. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Insider Transactions at Upwork

In other news, CEO Hayden Brown sold 23,147 shares of the stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $20.59, for a total value of $476,596.73. Following the transaction, the chief executive officer owned 721,158 shares in the company, valued at $14,848,643.22. This represents a 3.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gary Steele sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $17.51, for a total transaction of $218,875.00. Following the completion of the transaction, the director directly owned 85,129 shares in the company, valued at approximately $1,490,608.79. The trade was a 12.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 475,598 shares of company stock worth $9,231,586 in the last three months. 7.50% of the stock is owned by insiders.

Upwork News Roundup

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Board approves $300 million share repurchase program (authorizes buyback of ~18% of shares) — a direct capital-allocation move that typically supports the stock and signals management thinks shares are undervalued. Upwork Announces $300 Million Share Repurchase Program
• Positive Sentiment: Market reaction: multiple outlets report the repurchase as the reason for the stock rise, and intraday volume has been higher than average — indicating investor interest tied to the buyback news. Upwork stock rises after announcing $300 million share repurchase program
• Neutral Sentiment: Company executives (CEO Hayden Brown and CFO Erica Gessert) will present at the Citizens Technology Conference on March 2 — a chance for management to discuss strategy and AI/product progress but not an immediate earnings event. Upwork to Present at The Citizens Technology Conference
• Neutral Sentiment: Analyst/earnings discussion coverage — articles summarizing Q4 analyst questions provide context on growth drivers and investor concerns but don’t contain new guidance. Useful for longer-term thesis but limited immediate price impact. 5 Insightful Analyst Questions From Upwork’s Q4 Earnings Call
• Negative Sentiment: Goldman Sachs trimmed its price target to $27 (from $28) while keeping a Buy rating — a small concession that tempers upside expectations and may cap how far the stock runs without further fundamental beats. Goldman Sachs Lowers its Price Target on Upwork Inc. (UPWK) to $27 and Maintains a Buy Rating

Upwork Trading Up 7.6%

Shares of UPWK opened at $13.73 on Thursday. The firm has a fifty day simple moving average of $19.38 and a two-hundred day simple moving average of $17.74. The firm has a market cap of $1.79 billion, a PE ratio of 16.35 and a beta of 1.06. Upwork Inc. has a 1-year low of $11.13 and a 1-year high of $22.84.

Upwork declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 18th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 18% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their target price on shares of Upwork from $24.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 10th. BTIG Research reaffirmed a “neutral” rating on shares of Upwork in a research report on Wednesday, November 19th. Roth Mkm increased their target price on Upwork from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Scotiabank reduced their target price on Upwork from $17.00 to $15.00 and set a “sector perform” rating for the company in a report on Tuesday, February 10th. Finally, Wall Street Zen downgraded Upwork from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Upwork presently has a consensus rating of “Moderate Buy” and an average target price 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.