King Luther Capital Management Corp Has $5.87 Million Stock Position in Upwork Inc. $UPWK

King Luther Capital Management Corp grew its stake in Upwork Inc. (NASDAQ:UPWK) by 19.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 316,077 shares of the company’s stock after purchasing an additional 51,288 shares during the period. King Luther Capital Management Corp owned approximately 0.24% of Upwork worth $5,870,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. LSV Asset Management grew its position in Upwork by 22.1% in the second quarter. LSV Asset Management now owns 6,534,575 shares of the company’s stock valued at $87,825,000 after acquiring an additional 1,183,169 shares during the period. Invesco Ltd. boosted its stake in shares of Upwork by 8.8% in the 2nd quarter. Invesco Ltd. now owns 2,861,482 shares of the company’s stock valued at $38,458,000 after purchasing an additional 231,103 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Upwork by 93.6% during 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. Fiera Capital Corp lifted its holdings in Upwork by 1.4% during the 2nd quarter. Fiera Capital Corp now owns 1,065,373 shares of the company’s stock valued at $14,319,000 after purchasing an additional 14,573 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its holdings in Upwork by 27.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,036,334 shares of the company’s stock valued at $13,928,000 after purchasing an additional 225,856 shares during the last quarter. Institutional investors own 77.71% of the company’s stock.

Upwork News Summary

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Board authorizes a $300 million share repurchase (up to ~18% of shares outstanding), a signal management believes shares may be undervalued and a driver of buyback-driven support for the stock. GlobeNewswire
• Neutral Sentiment: Media coverage flagged that the repurchase announcement initially pushed the stock higher on Feb. 18 — showing the immediate positive market reaction, though sustainability depends on execution and broader sentiment. Investing.com
• Neutral Sentiment: Additional coverage noted the same buyback-driven lift in shares on Feb. 18, reinforcing the initial market response. Benzinga
• Negative Sentiment: CEO Hayden Brown sold 123,152 shares on Feb. 18 at an average price ~$13.80 (~$1.7M total); her ownership dropped ~13.7% per the SEC filing — an event investors often view as a negative signal. SEC Filing
• Negative Sentiment: CFO Erica Gessert sold 26,292 shares on Feb. 18 at an average price ~$13.80 (roughly $362,830), reducing her position ~8.1% — another insider sale from the C-suite. SEC Filing
• Negative Sentiment: Director/insider Dave Bottoms executed multiple sales (Feb. 18–19), including blocks at ~$13.51–$13.80 that materially reduced his holdings (one filing shows a ~97.8% drop in one tranche), adding to selling pressure. SEC Filings

Upwork Price Performance

Shares of NASDAQ UPWK opened at $13.32 on Friday. The company’s 50 day simple moving average is $19.21 and its 200 day simple moving average is $17.71. Upwork Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $22.84. The firm has a market capitalization of $1.74 billion, a P/E ratio of 15.86 and a beta of 1.06.

Upwork announced that its Board of Directors has approved 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 buy up to 18% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Zacks Research lowered shares of Upwork from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Wall Street Zen cut Upwork from a “buy” rating to a “hold” rating in a report on Friday, January 23rd. Citigroup lowered their target price on Upwork from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Tuesday, February 10th. UBS Group decreased their price target on shares of Upwork from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Finally, Jefferies Financial Group raised their price target on shares of Upwork from $22.00 to $27.00 and gave the company a “buy” rating in a report on Monday, January 5th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.60.

Insider Buying and Selling at Upwork

In related news, insider Dave Bottoms sold 17,013 shares of Upwork stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $13.80, for a total transaction of $234,779.40. Following the transaction, the insider owned 15,994 shares of the company’s stock, valued at $220,717.20. This trade represents a 51.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hayden Brown sold 275,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $19.43, for a total transaction of $5,343,250.00. Following the transaction, the chief executive officer owned 697,894 shares of the company’s stock, valued at approximately $13,560,080.42. This represents a 28.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 585,204 shares of company stock valued at $10,429,236. 7.50% of the stock is currently owned by company insiders.

Upwork Profile

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.