Upwork (NASDAQ:UPWK) Insider Dave Bottoms Sells 11,575 Shares of Stock

21 Mar 2026, 12:26 by Michael Walen · The Markets Daily

Upwork Inc. (NASDAQ:UPWK – Get Free Report) insider Dave Bottoms sold 11,575 shares of the company’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $12.31, for a total value of $142,488.25. Following the completion of the sale, the insider owned 9,678 shares of the company’s stock, valued at approximately $119,136.18. This trade represents a 54.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Dave Bottoms also recently made the following trade(s):

On Thursday, March 19th, Dave Bottoms sold 7,000 shares of Upwork stock. The stock was sold at an average price of $11.49, for a total value of $80,430.00.
On Thursday, February 19th, Dave Bottoms sold 15,649 shares of Upwork stock. The stock was sold at an average price of $13.51, for a total transaction of $211,417.99.
On Wednesday, February 18th, Dave Bottoms sold 17,013 shares of Upwork stock. The shares were sold at an average price of $13.80, for a total transaction of $234,779.40.

Upwork Trading Down 0.7%

NASDAQ:UPWK opened at $11.27 on Friday. Upwork Inc. has a twelve month low of $11.09 and a twelve month high of $22.84. The company has a 50-day moving average of $15.88 and a 200-day moving average of $17.52. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 13.42 and a beta of 1.07.

Upwork announced that its board has approved a stock repurchase plan on Wednesday, February 18th that allows the company to buyback $300.00 million in shares. This buyback authorization allows the company to purchase up to 18% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have issued reports on UPWK shares. Royal Bank Of Canada dropped their price target on Upwork from $24.00 to $20.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 10th. Scotiabank reduced their price objective on Upwork from $17.00 to $15.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 10th. UBS Group decreased their target price on Upwork from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Roth Mkm boosted their target price on Upwork from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set 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 issued a Hold rating to the company. Based on data from MarketBeat, Upwork presently has a consensus rating of “Moderate Buy” and an average target price of $22.60.

Check Out Our Latest Research Report on Upwork

Hedge Funds Weigh In On Upwork

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Accredited Wealth Management LLC grew its position in Upwork by 5,280.0% during the 3rd quarter. Accredited Wealth Management LLC now owns 1,345 shares of the company’s stock worth $25,000 after purchasing an additional 1,320 shares in the last quarter. Clearstead Advisors LLC lifted its holdings in shares of Upwork by 998.4% in the third quarter. Clearstead Advisors LLC now owns 1,406 shares of the company’s stock valued at $26,000 after purchasing an additional 1,278 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Upwork by 594.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,361 shares of the company’s stock worth $27,000 after buying an additional 1,165 shares during the period. Elevation Point Wealth Partners LLC purchased a new position in shares of Upwork during the second quarter valued at $30,000. Finally, Fifth Third Bancorp grew its holdings in shares of Upwork by 2,405.7% during the third 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 in the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

Upwork News Roundup

Here are the key news stories impacting Upwork this week:

Negative Sentiment: CEO Hayden Brown sold 23,745 shares at an average of $12.31 (~$292K), a 2.9% reduction in her stake — a notable insider sale from the company’s top executive. CEO Hayden Brown SEC Filing
Negative Sentiment: CFO Erica Gessert sold 9,278 shares at ~$12.31 (~$114K), reducing her position by ~2.9% — another senior officer sale. CFO Erica Gessert SEC Filing
Negative Sentiment: CAO Sabrina Mekhalfa sold 1,482 shares at ~$12.31 (~$18K), cutting her stake by ~41%. CAO Sabrina Mekhalfa SEC Filing
Negative Sentiment: Director/insider Dave Bottoms reported two recent sales (11,575 shares at $12.31 and 7,000 shares at $11.49), significantly reducing his holdings. Multiple insider dispositions amplify the perception of insider-led selling. Dave Bottoms SEC Filings
Negative Sentiment: Media and analyst coverage is bearish: headlines report shares “plummet” and note analysts are resetting valuations and expectations for Upwork, which can pressure sentiment and trigger further selling. Reddit and Upwork Shares Plummet, What You Need To Know
Negative Sentiment: Analysis piece discusses a shifting Upwork story as analysts cut forecasts and valuations — a catalyst for downgrades and lower price targets. Why The Upwork (UPWK) Story Is Shifting

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.