Key Points
- CFO Erica Gessert sold 9,044 shares on Dec. 18 at $20.59 for a total of $186,215.96, trimming her stake by 3.54% to 246,701 shares valued at about $5.08 million (she also sold 18,493 shares on Nov. 18 at $16.70).
- Upwork missed Q3 EPS ($0.21 vs. $0.25 estimate) but beat revenue ($201.7M vs. $193.3M), issued FY2025 EPS guidance of 1.350–1.370, and authorized a $100 million share buyback while analysts hold a consensus "Moderate Buy" with a $22.92 target.
Upwork Inc. (NASDAQ:UPWK - Get Free Report) CFO Erica Gessert sold 9,044 shares of the business's stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $20.59, for a total transaction of $186,215.96. Following the completion of the sale, the chief financial officer directly owned 246,701 shares in the company, valued at $5,079,573.59. This trade represents a 3.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Erica Gessert also recently made the following trade(s):
- On Tuesday, November 18th, Erica Gessert sold 18,493 shares of Upwork stock. The stock was sold at an average price of $16.70, for a total transaction of $308,833.10.
Upwork Stock Performance
Shares of Upwork stock opened at $21.29 on Tuesday. The firm has a market cap of $2.78 billion, a P/E ratio of 12.17 and a beta of 1.02. The firm's 50-day simple moving average is $18.28 and its 200-day simple moving average is $16.13. Upwork Inc. has a twelve month low of $11.13 and a twelve month high of $22.32.
Upwork (NASDAQ:UPWK - Get Free Report) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). The business had revenue of $201.73 million during the quarter, compared to analyst estimates of $193.33 million. Upwork had a return on equity of 41.05% and a net margin of 31.63%.The business's revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the company earned $0.30 EPS. Upwork has set its FY 2025 guidance at 1.350-1.370 EPS and its Q4 2025 guidance at 0.310-0.330 EPS. On average, equities analysts forecast that Upwork Inc. will post 0.84 earnings per share for the current fiscal year.
Upwork declared that its Board of Directors has initiated a share buyback program on Wednesday, September 3rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 4.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.
Institutional Trading of Upwork
Several hedge funds have recently modified their holdings of UPWK. Accredited Wealth Management LLC increased its holdings in shares of Upwork by 5,280.0% in the third quarter. Accredited Wealth Management LLC now owns 1,345 shares of the company's stock valued at $25,000 after purchasing an additional 1,320 shares in the last quarter. Clearstead Advisors LLC boosted its position in Upwork by 998.4% in the 3rd quarter. Clearstead Advisors LLC now owns 1,406 shares of the company's stock valued at $26,000 after buying an additional 1,278 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Upwork by 2,405.7% in the 3rd quarter. Fifth Third Bancorp now owns 1,754 shares of the company's stock valued at $33,000 after buying an additional 1,684 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in shares of Upwork during the second quarter worth $30,000. Finally, LRI Investments LLC lifted its stake in shares of Upwork by 415.9% during the second quarter. LRI Investments LLC now owns 2,528 shares of the company's stock valued at $34,000 after acquiring an additional 2,038 shares during the period. 77.71% of the stock is owned by institutional investors.
Analyst Ratings Changes
UPWK has been the topic of a number of analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $25.00 price target on shares of Upwork in a research report on Wednesday, November 19th. Citizens Jmp restated a "market outperform" rating and issued a $27.00 target price on shares of Upwork in a research note on Wednesday, November 19th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Upwork in a report on Wednesday, October 8th. The Goldman Sachs Group lifted their price target on shares of Upwork from $25.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, November 19th. Finally, Roth Capital reaffirmed a "buy" rating and set a $22.00 price objective (up from $19.00) on shares of Upwork in a research note on Wednesday, November 5th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.92.
Check Out Our Latest Analysis on UPWK
About Upwork
(
Get Free Report)
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.
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