Segall Bryant & Hamill LLC Buys New Shares in Upwork Inc. $UPWK

Segall Bryant & Hamill LLC bought a new position in shares of Upwork Inc. (NASDAQ:UPWK) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 95,183 shares of the company’s stock, valued at approximately $1,768,000.

Several other large investors have also recently bought and sold shares of UPWK. Accredited Wealth Management LLC grew its stake in 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 raised its stake in shares of Upwork by 998.4% during the 3rd quarter. Clearstead Advisors LLC now owns 1,406 shares of the company’s stock worth $26,000 after purchasing an additional 1,278 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Upwork during the 2nd quarter worth approximately $30,000. Fifth Third Bancorp boosted its holdings 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 last quarter. Finally, EMC Capital Management acquired a new stake in shares of Upwork in the 2nd quarter valued at approximately $45,000. 77.71% of the stock is owned by institutional investors and hedge funds.

Upwork Stock Performance

NASDAQ:UPWK opened at $13.25 on Friday. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 15.77 and a beta of 1.07. Upwork Inc. has a fifty-two week low of $11.13 and a fifty-two week high of $22.84. The stock has a fifty day moving average price of $17.49 and a 200-day moving average price of $17.71.

Upwork declared that its board has initiated a share buyback plan on Wednesday, February 18th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 18% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages recently weighed in on UPWK. Royal Bank Of Canada lowered their target price on shares of Upwork from $24.00 to $20.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 10th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Upwork in a research note on Wednesday, January 21st. UBS Group decreased their price objective on shares of Upwork from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Roth Mkm boosted their price objective on shares of Upwork from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $27.00 target price on shares of Upwork in a report on Tuesday, February 10th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.60.

Insider Activity at Upwork

In other news, CEO Hayden Brown sold 123,152 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $13.80, for a total transaction of $1,699,497.60. Following the completion of the transaction, the chief executive officer owned 776,067 shares of the company’s stock, valued at approximately $10,709,724.60. The trade was a 13.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dave Bottoms sold 17,013 shares of the company’s 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 sale, the insider owned 15,994 shares of the company’s stock, valued at approximately $220,717.20. This represents a 51.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 235,204 shares of company stock valued at $3,602,486 over the last quarter. 7.50% of the stock is owned by corporate insiders.

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.