Upwork announces a $100 million share repurchase program to enhance shareholder value following strong financial performance.
Quiver AI Summary
Upwork Inc. has announced a new $100 million share repurchase program approved by its board of directors, aiming to enhance shareholder value as the company reports strong financial results. President and CEO Hayden Brown highlighted the firm’s operational efficiency and market share growth as a backdrop for this decision. The repurchases may occur through various methods, including open market transactions and trading plans, and there is no expiration date on the program, allowing for flexibility based on market conditions. Upwork connects businesses with AI-enabled talent through its marketplace, helping companies innovate and transform their workforces.
Potential Positives
- Upwork's board approved a $100 million share repurchase program, indicating confidence in the company's financial health and commitment to enhancing shareholder value.
- The announcement reflects Upwork's strong financial performance, with results exceeding expectations, which bodes well for future growth and market positioning.
- The repurchase authorization has no expiration date, providing Upwork with flexibility to manage its shares based on market conditions.
- Upwork continues to grow its global presence and services, connecting enterprises with AI-enabled talent, demonstrating its strategic focus on innovation in the work marketplace.
Potential Negatives
- Share repurchase programs may indicate a lack of profitable growth opportunities, suggesting the company may not have better avenues for investment.
- The authorization to repurchase shares does not obligate Upwork to buy back any specific number of shares, which may raise concerns about the company's commitment to shareholder value.
- The forward-looking statements include substantial disclaimers regarding uncertainties and risks that could adversely affect financial performance, indicating potential volatility in future results.
FAQ
What is the new share repurchase program announced by Upwork?
Upwork's board approved an additional $100 million share repurchase program to enhance shareholder value.
How does Upwork plan to execute the share repurchase?
Repurchases may occur on the open market, through trading plans, or privately negotiated transactions, at Upwork's discretion.
Is there an expiration date for the repurchase program?
The repurchase authorization has no expiration date and will remain active until modified or terminated.
What factors influence the timing and amount of repurchases?
The timing and amount of repurchases will depend on market conditions, business considerations, and applicable laws.
What is the purpose of Upwork's Marketplace?
The Upwork Marketplace connects companies with global talent, facilitating AI-powered work solutions and business transformation.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$UPWK Insider Trading Activity
$UPWK insiders have traded $UPWK stock on the open market 41 times in the past 6 months. Of those trades, 0 have been purchases and 41 have been sales.
Here’s a breakdown of recent trading of $UPWK stock by insiders over the last 6 months:
- THOMAS LAYTON has made 0 purchases and 2 sales selling 500,000 shares for an estimated $8,746,450.
- HAYDEN BROWN (President & CEO) has made 0 purchases and 12 sales selling 324,806 shares for an estimated $4,916,753.
- ELIZABETH A NELSON sold 60,000 shares for an estimated $1,045,572
- ERICA GESSERT (Chief Financial Officer) has made 0 purchases and 4 sales selling 52,296 shares for an estimated $770,828.
- DAVE BOTTOMS (GM, Marketplace) has made 0 purchases and 8 sales selling 42,385 shares for an estimated $579,775.
- OLIVIER MARIE (Chief Accounting Officer) has made 0 purchases and 12 sales selling 18,169 shares for an estimated $264,818.
- LEELA SRINIVASAN has made 0 purchases and 2 sales selling 9,834 shares for an estimated $149,748.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$UPWK Hedge Fund Activity
We have seen 150 institutional investors add shares of $UPWK stock to their portfolio, and 167 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- DORSEY ASSET MANAGEMENT, LLC removed 3,045,142 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $39,739,103
- T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 2,900,436 shares (-62.2%) from their portfolio in Q2 2025, for an estimated $38,981,859
- FMR LLC removed 2,326,784 shares (-99.5%) from their portfolio in Q2 2025, for an estimated $31,271,976
- PRICE T ROWE ASSOCIATES INC /MD/ removed 1,785,022 shares (-11.8%) from their portfolio in Q2 2025, for an estimated $23,990,695
- MORGAN STANLEY added 1,623,488 shares (+52.5%) to their portfolio in Q2 2025, for an estimated $21,819,678
- CONTOUR ASSET MANAGEMENT LLC removed 1,506,610 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $19,661,260
- ALLIANZ ASSET MANAGEMENT GMBH removed 1,275,988 shares (-57.0%) from their portfolio in Q2 2025, for an estimated $17,149,278
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$UPWK Analyst Ratings
Wall Street analysts have issued reports on $UPWK in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- JMP Securities issued a "Market Outperform" rating on 05/16/2025
- Needham issued a "Buy" rating on 05/06/2025
- Jefferies issued a "Buy" rating on 04/07/2025
- Citizens Capital Markets issued a "Market Outperform" rating on 03/10/2025
To track analyst ratings and price targets for $UPWK, check out Quiver Quantitative's $UPWK forecast page.
$UPWK Price Targets
Multiple analysts have issued price targets for $UPWK recently. We have seen 7 analysts offer price targets for $UPWK in the last 6 months, with a median target of $18.0.
Here are some recent targets:
- Brad Erickson from RBC Capital set a target price of $18.0 on 06/02/2025
- Matthew Condon from JMP Securities set a target price of $20.0 on 05/16/2025
- Ronald Josey from Citigroup set a target price of $18.0 on 05/06/2025
- Bernie McTernan from Needham set a target price of $19.0 on 05/06/2025
- Brent Thill from Jefferies set a target price of $20.0 on 04/07/2025
- Nat Schindler from Scotiabank set a target price of $15.0 on 03/12/2025
- Andrew Boone from Citizens Capital Markets set a target price of $18.0 on 03/10/2025
Full Release
PALO ALTO, Calif., Sept. 03, 2025 (GLOBE NEWSWIRE) -- Upwork Inc. (Nasdaq: UPWK), the world’s human and AI-powered work marketplace, today announced that its board of directors approved an additional $100 million share repurchase program.
“Upwork’s financial results continue to exceed expectations, giving us another opportunity to utilize our balance sheet to increase shareholder value,” said Hayden Brown, president and CEO, Upwork. “Our track record of operational discipline and rapid execution is enabling us to grow GSV and continue our market share gains.”
Repurchases of Upwork’s common stock under the repurchase authorization may be made from time to time on the open market (including through the use of trading plans intended to qualify under Rule 10b5-1 under the Exchange Act of 1934, as amended), in privately negotiated transactions, or by other methods, at Upwork’s discretion, and in accordance with applicable securities laws and other restrictions. The repurchase authorization has no expiration date and will continue until otherwise suspended, terminated, or modified at any time for any reason. The repurchase authorization does not obligate Upwork to repurchase any dollar amount or number of shares, and the timing and amount of any repurchases will depend on market and business conditions and other considerations.
About Upwork Inc.
Upwork Inc. is the parent company of the
Upwork Marketplace
and
Lifted
, its enterprise-focused subsidiary. Through its family of businesses, Upwork Inc. connects companies with global, AI-enabled talent across every contingent work model.
The Upwork Marketplace is the world’s human and AI-powered work marketplace that connects businesses with highly skilled, AI-enabled independent talent from across the globe. From Fortune 100 enterprises to entrepreneurs, companies rely on the trusted Upwork Marketplace platform and its mindful AI companion, Uma ™, to find and hire expert talent, leverage AI-powered work solutions, and drive business transformation. With on-demand access to professionals spanning more than 10,000 skills across AI & machine learning, software development, sales & marketing, customer support, finance & accounting, and more, the Upwork Marketplace enables businesses of all sizes to scale, innovate, and transform their workforces for the age of AI and beyond.
Since its founding, with more than $25 billion in talent earnings facilitated to date, the Upwork Marketplace continues to deliver on its purpose to create opportunity in every era of work. Learn more at upwork.com and follow us on LinkedIn , Facebook , Instagram , TikTok , and X .
Contact:
Samuel Meehan
Vice President, Investor Relations
[email protected]
Safe Harbor:
This press release of Upwork Inc. (the “Company,” “we,” “us,” or “our”) contains “forward-looking” statements within the meaning of the federal securities laws. Forward-looking statements include all statements other than statements of historical fact, including any statements regarding our future operating results and financial position, information or predictions concerning the future of our business or strategy, anticipated events and trends, potential growth or growth prospects, competitive position, technological and market trends, industry environment, the economy, our plans with respect to share repurchases, the expected impact and timing of strategic initiatives, and other future conditions.
We have based these forward-looking statements largely on our current expectations and projections as of the date hereof about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short- and long-term business operations and objectives, and financial needs. As such, they are subject to inherent uncertainties, known and unknown risks, and changes in circumstances that are difficult to predict and in many cases outside our control, and you should not rely on such forward-looking statements as predictions of future events. We make no representation that the projected results will be achieved or that future events and circumstances will occur, and actual results may differ materially and adversely from our expectations. The forward-looking statements are made as of the date hereof, and we do not undertake, and expressly disclaim, any obligation to update or revise any forward-looking statements, conform these statements to actual results, or make changes in our expectations, except as required by law. Additional information regarding the risks and uncertainties that could cause actual results to differ materially from our expectations is included under the caption "Risk Factors" in our Quarterly Report on Form 10-Q for the three months ended June 30, 2025, filed with the SEC on August 6, 2025, and in our other SEC filings, which are available on our Investor Relations website at investors.upwork.com and on the SEC’s website at www.sec.gov.
Undue reliance should not be placed on the forward-looking statements in this press release. Neither we nor any other person makes any representation or warranty as to the accuracy or completeness of the information herein. This press release is made solely for informational purposes.
