Janus Henderson Group PLC Reduces Stock Position in Upwork Inc. $UPWK

Janus Henderson Group PLC reduced its position in Upwork Inc. (NASDAQ:UPWK) by 86.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,070 shares of the company’s stock after selling 389,330 shares during the period. Janus Henderson Group PLC’s holdings in Upwork were worth $647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in Upwork by 44.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,231,377 shares of the company’s stock worth $381,166,000 after acquiring an additional 5,893,970 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Upwork by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 14,989,217 shares of the company’s stock worth $297,086,000 after buying an additional 322,455 shares during the period. LSV Asset Management boosted its holdings in Upwork by 0.4% during the 4th quarter. LSV Asset Management now owns 6,537,275 shares of the company’s stock valued at $129,569,000 after acquiring an additional 23,900 shares during the period. Ancient Art L.P. boosted its position in Upwork by 8.7% in the 4th quarter. Ancient Art L.P. now owns 4,640,814 shares of the company’s stock valued at $91,981,000 after buying an additional 372,147 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Upwork by 26.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,715,616 shares of the company’s stock worth $40,720,000 after purchasing an additional 779,506 shares during the period. 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: Q2 earnings exceeded expectations: Upwork reported adjusted earnings of $0.41 per share, above the $0.34 analyst consensus and up from $0.35 in the year-ago quarter. The company also reported a 13.81% net margin and 17.92% return on equity. Upwork Reports Second Quarter 2026 Financial Results
• Positive Sentiment: AI marketplace integration could support long-term growth: Upwork launched an MCP server that connects its marketplace directly with AI tools such as Claude, ChatGPT and Cursor. Clients can use AI agents to post jobs, identify freelancers and manage proposals, while freelancers can receive tailored opportunities. The service is available at no additional cost and could increase platform engagement. Upwork Talent Is Now Everywhere AI Works
• Neutral Sentiment: Revenue trends remain soft: Quarterly revenue declined 1.7% year over year, indicating that profitability improvements have not yet translated into renewed top-line growth. Upwork Q2 Earnings Snapshot
• Negative Sentiment: 2026 guidance was below analyst expectations: Upwork forecast third-quarter earnings of $0.31–$0.33 per share and revenue of $176–$184 million, below consensus estimates of $0.41 and $193.8 million. Full-year EPS guidance of $1.38–$1.43 and revenue guidance of $730–$750 million also trailed estimates of $1.52 and $776 million. This outlook suggests near-term growth and demand may be weaker than investors expected.

Wall Street Analyst Weigh In

A number of research analysts have commented on UPWK shares. Citigroup cut their target price on shares of Upwork from $17.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, May 21st. UBS Group lowered Upwork from a “buy” rating to a “neutral” rating and reduced their target price for the company from $20.00 to $10.00 in a research report on Friday, May 8th. Roth Capital lowered shares of Upwork from a “buy” rating to a “neutral” rating and set a $10.00 price target on the stock. in a research note on Friday, May 8th. Needham & Company LLC dropped their price objective on shares of Upwork from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Finally, Scotiabank reduced their price objective on Upwork from $15.00 to $10.00 and set a “sector perform” rating for the company in a research note on Friday, May 8th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Upwork presently has an average rating of “Hold” and a consensus price target of $15.50.

Upwork Stock Up 1.7%

UPWK opened at $9.83 on Tuesday. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 12.14 and a beta of 0.99. The firm’s fifty day simple moving average is $8.87 and its two-hundred day simple moving average is $11.21. Upwork Inc. has a 52-week low of $7.44 and a 52-week high of $22.84.

Insider Activity

In other Upwork news, CEO Hayden Brown sold 23,468 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $8.15, for a total transaction of $191,264.20. Following the transaction, the chief executive officer owned 797,495 shares of the company’s stock, valued at approximately $6,499,584.25. The trade was a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Erica Gessert sold 9,169 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $8.15, for a total transaction of $74,727.35. Following the transaction, the chief financial officer directly owned 341,609 shares in the company, valued at approximately $2,784,113.35. The trade was a 2.61% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 34,471 shares of company stock worth $281,446. Insiders own 4.90% of the company’s stock.

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.