Upwork Inc.· UPWK

🇺🇸 US · SmallSP600NASDAQ

Industrials Staffing & Employment Services Website

Price: $8.35
Day: -0.24%
Mkt Cap: $1.03B
52W Range: $7.44 – $22.84
Volume: 3.12M
Beta: 1.01

D55D FrameworkQuarterly Data

Holdings Analysis

Insider activity, institutional flows, and fund ownership.

Smart Money: 3.1 / 5 (Neutral), from 3 of 3 components
Institutions Q2 2026: 315 institutions hold; 173 added, 92 reduced
Insiders Q3 2026: no purchases, 5 sales ($831.3K)

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Upwork Inc.

UPWK|Industrials|Staffing & Employment Services

Current price: $8

Smart Money

Dimension 5 of 5

Insider selling pace · Q3 2026

0.3x

quarter in progress, filings still arriving

Seller breadth · Q3 2026

3 sellers

vs 4.7 avg per quarter

Institutional net breadth · Q2 2026

+86

231 adding vs 145 reducing

Institutional ownership · Q2 2026

N/A

overlapping 13F filings

Insider Selling Pace

Each quarter's selling vs this stock's own trailing 6-quarter average

Light <0.5xRoutineElevated >1.5xHeavy >3xBuying

Institutional Positions

Institutions adding above the line, reducing below, net as a line

NewIncreasedReducedClosedNet

Largest Institutional Holders, Q2 2026

By reported market value, and how each moved in the quarter

Holder

Change

BLACKROCK, INC.

19.3M

+5.6%

VANGUARD PORTFOLIO MANAGEMENT LLC

7.9M

+5.0%

ANCIENT ART, L.P.

7.2M

+25.4%

LSV ASSET MANAGEMENT

6.4M

-2.9%

VANGUARD CAPITAL MANAGEMENT LLC

5.3M

-2.1%

STATE STREET CORP

5.2M

+4.8%

ETF & Fund Activity, Q2 2026

How the covering funds split between buying, holding and selling

142

80 buying142 unchanged44 selling

266 funds held UPWK in Q2 2026, holding 90.3M shares between them, up 3.4% on the quarter.

Largest fund holders

SPDR SERIES TRUST1.9M sh

ETF Series Solutions70.5K sh

Legg Mason Global Asset Management Trust35.3K sh

Notable Insider Transactions, Q3 2026

Largest open-market purchases and sales by value in the last eight quarters

Sale · May 14

LAYTON THOMAS

$4.4M

Sale · May 13

LAYTON THOMAS

$4.4M

Sale · Nov 26

Brown Hayden

$3.4M

Insider transactions from SEC Form 4 filings; institutional holdings from quarterly 13F filings, which are reported with a lag and can overlap between filers. 13F: quarterly institutional holdings report · ETF: Exchange-Traded Fund

See the complete picture

The full 5D Framework: Business Quality · Peer Comparison · Valuation · Analyst Sentiment · Smart Money

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Generated September 23, 2026

For educational purposes only. Not financial advice. Data may be delayed or incomplete.

Smart Money Sentiment

UPWK Smart Money Sentiment Score

A weighted 1-5 sentiment score across three smart money signals.

Smart Money

3.1/5

Neutral

Weighted across 3 components

Component Breakdown (3 of 3 available)

Insider Activity

40% weight

Institutional Flow

50% weight

Fund Flow

10% weight

+25

Overall Smart Money sentiment of 3.1/5 (Neutral) based on a weighted combination of 3 components. Insider activity uses a relative-baseline comparison against the stock's own history; institutional flow tracks position momentum and 13F share changes; fund flow measures ETF / mutual-fund buying vs selling. Higher scores indicate stronger bullish sentiment from professional investors.Last updated September 22, 2026.

Insider Trading Activity

Insider trading analysis comparing the latest quarter against the stock's own historical baseline.

Insider Selling Pace for UPWK

Each quarter's selling vs the stock's own trailing 6-quarter average; 1.0x is typical for this stock. Green triangles mark quarters with insider buying.

Neutral

Routine insider selling in Q3 2026

5 sales totaling $831.3K (98.6K shares)

Share volume is well below the historical pace (0.3x average), insiders are holding more

3 different insiders sold this quarter

Sell-only pattern: no insider purchases across 15 quarters

Steady selling pace across recent quarters

0.3x

Selling pace

quarter in progress, filings still arriving

1.01%

Stake sold

of active insiders' holdings

3 sellers

Seller breadth

vs 4.7 avg per quarter

None

Insider buying

in the last 16 quarters

Notable Recent Transactions, UPWK

Top 8 highest-value insider trades from the last 8 quarters

LAYTON THOMAS

Director

Sell

250,000 shares at $17.52

≈13.4% of their stake at the time

May 14, 2025$4.38M

LAYTON THOMAS

Director

Sell

250,000 shares at $17.47

≈11.8% of their stake at the time

May 13, 2025$4.37M

Brown Hayden

CEO

Sell

175,000 shares at $19.43

≈18.0% of their stake at the time

Nov 26, 2025$3.40M

Brown Hayden

CEO

Sell

100,000 shares at $19.44

≈12.5% of their stake at the time

Nov 26, 2025$1.94M

Brown Hayden

CEO

Sell

75,000 shares at $19.78

≈7.2% of their stake at the time

Nov 25, 2025$1.48M

NELSON ELIZABETH A

Director

Sell

75,000 shares at $17.37

≈60.5% of their stake at the time

Dec 18, 2024$1.30M

NELSON ELIZABETH A

Director

Sell

73,101 shares at $17.57

≈80.1% of their stake at the time

Feb 19, 2025$1.28M

Brown Hayden

CEO

Sell

60,000 shares at $18.20

≈5.4% of their stake at the time

Nov 21, 2025$1.09M

Institutional Ownership Analysis

Institutional ownership analysis with position momentum, 13F share flow, and ownership percentage trends.

Institutional Positions for UPWK

Institutions adding (new + increased) above zero, reducing (reduced + closed) below, net as a line

New Increased Reduced Closed Net (adding − reducing)

Neutral

Mixed institutional activity in Q2 2026

13F filings cover more than 100% of shares this quarter (overlapping reports), so ownership and share-flow figures are unreliable

Moderate accumulation: 231 adding vs 145 reducing

Momentum improving from prior quarter

+86

Net breadth

231 adding vs 145 reducing

Accumulating

1.59

Add / reduce ratio

in Q2 2026

New − closed

58 initiated, 53 exited

8 of 10

Top holders adding

largest holders with a known change

Position Changes

Q2 2026: how are institutions adjusting their positions?

+231 growing-145 shrinkingNet: +86

173

New (58)

Increased (173)

Reduced (92)

Closed (53)

Top Institutional Holders, UPWK

Largest 8 institutional positions by ownership percentage as of Q2 2026

BLACKROCK, INC.

19.3M

$161.0M

Ownership

15.54%

+5.6%

VANGUARD PORTFOLIO MANAGEMENT LLC

7.9M

$66.0M

Ownership

6.37%

+5.0%

ANCIENT ART, L.P.

7.2M

$60.4M

Ownership

5.83%

+25.4%

LSV ASSET MANAGEMENT

6.4M

$53.4M

Ownership

5.15%

-2.9%

VANGUARD CAPITAL MANAGEMENT LLC

5.3M

$44.4M

Ownership

4.29%

-2.1%

STATE STREET CORP

5.2M

$43.4M

Ownership

4.19%

+4.8%

STATE STREET CORP

5.2M

$43.4M

Ownership

4.06%

+1.4%

CAPITAL INTERNATIONAL INVESTORS

4.9M

$40.6M

Ownership

3.92%

+6.3%

ETF and Mutual Fund Holdings

ETF and mutual fund activity breakdown showing buying vs selling funds, top fund holders, and detailed holdings.

Fund Activity

Q2 2026: 266 ETFs and mutual funds reporting

80 buying44 sellingNet: +36

142

Buying (80)

Unchanged (142)

Selling (44)

In total, funds bought 7.8M shares and sold 4.8M this quarter. Each fund counts once in the bar above, whatever the size of its move.

Bullish Signal

Funds accumulating in Q2 2026

266 ETFs and mutual funds reporting

80 funds buying vs 44 selling

Top Fund Holders, UPWK

Largest 8 ETF and mutual fund positions by shares held, each fund's latest filing

SPDR SERIES TRUST

1.9M

Weight

9.30%

Jul 31, 2026No change

ETF Series Solutions

70.5K

Weight

—

Jul 31, 2026No change

Legg Mason Global Asset Management Trust

35.3K

Weight

0.00%

Jun 30, 2026No change

BlackRock Advantage SMID Cap Fund, Inc.

34.4K

Weight

6.12%

Jun 30, 2026No change

MFS VARIABLE INSURANCE TRUST III

32.9K

Weight

0.16%

Jun 30, 2026Increased

IVY FUNDS

31.8K

Weight

0.02%

Jun 30, 2026No change

MML Series Investment Fund II

29.6K

Weight

0.23%

Jun 30, 2026No change

TIMOTHY PLAN

27.3K

Weight

0.48%

Jun 30, 2026No change

Upwork Inc.· UPWK

Holdings Analysis

Insider Trading Activity

1.3Transaction History271Real market purchases and sales onlyShow All Types

Institutional Ownership Analysis

2.4Detailed Holdings132Most recent institutional positions with changes and valuations

ETF and Mutual Fund Holdings

3.3Fund Holdings Details25Most recent ETF and mutual fund holdings with share counts and weights

Search stocks

Holdings Analysis

Insider Trading Activity

1.3Transaction History271Real market purchases and sales onlyShow All Types

Institutional Ownership Analysis

2.4Detailed Holdings132Most recent institutional positions with changes and valuations

ETF and Mutual Fund Holdings

3.3Fund Holdings Details25Most recent ETF and mutual fund holdings with share counts and weights