State of Wyoming Makes New Investment in Upwork Inc. $UPWK

State of Wyoming purchased a new stake in shares of Upwork Inc. (NASDAQ:UPWK) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 235,043 shares of the company’s stock, valued at approximately $1,965,000. State of Wyoming owned approximately 0.19% of Upwork at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of UPWK. State of Alaska Department of Revenue lifted its stake in shares of Upwork by 1,566.8% during the 4th quarter. State of Alaska Department of Revenue now owns 105,258 shares of the company’s stock valued at $2,085,000 after buying an additional 98,943 shares in the last quarter. Vanguard Group Inc. increased its stake in Upwork by 2.2% in the 4th 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 in the last quarter. New York State Teachers Retirement System raised its holdings in Upwork by 547.9% during the fourth quarter. New York State Teachers Retirement System now owns 73,287 shares of the company’s stock valued at $1,453,000 after acquiring an additional 61,976 shares during the period. Summit Partners Public Asset Management LLC bought a new stake in Upwork during the fourth quarter valued at about $40,136,000. Finally, Legal & General Group Plc lifted its position in shares of Upwork by 126.8% in the fourth quarter. Legal & General Group Plc now owns 332,884 shares of the company’s stock valued at $6,598,000 after acquiring an additional 186,081 shares in the last quarter. 77.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Needham & Company LLC dropped their price objective on Upwork from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday. Roth Capital downgraded Upwork from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research note on Friday, May 8th. Canaccord Genuity Group cut their target price on shares of Upwork from $10.00 to $9.00 and set a “hold” rating for the company in a report on Wednesday. Wall Street Zen cut shares of Upwork from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, The Goldman Sachs Group set a $11.50 price target on shares of Upwork in a research note on Tuesday. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.05.

Insider Buying and Selling

In related news, CFO Erica Gessert sold 9,169 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $8.15, for a total transaction of $74,727.35. Following the completion of the sale, the chief financial officer directly owned 341,609 shares of the company’s stock, valued at approximately $2,784,113.35. This trade represents a 2.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Hayden Brown sold 23,468 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $8.15, for a total value 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 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. In the last ninety days, insiders have sold 34,471 shares of company stock worth $281,446. Insiders own 4.90% of the company’s stock.

Upwork Trading Down 2.1%

UPWK stock opened at $8.48 on Friday. The stock has a market cap of $1.06 billion, a PE ratio of 11.01 and a beta of 0.99. Upwork Inc. has a 12 month low of $7.44 and a 12 month high of $22.84. The company has a 50-day moving average price of $8.85 and a 200 day moving average price of $10.93.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Monday, August 10th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The company had revenue of $191.66 million for the quarter. Upwork had a net margin of 12.94% and a return on equity of 16.70%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.35 earnings per share. Upwork has set its FY 2026 guidance at 1.380-1.430 EPS and its Q3 2026 guidance at 0.310-0.330 EPS.

Upwork Company 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.