Upwork Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

DB:UP2 Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Role	Shares	Max Price
29 May 24	Sell€11,605	Dave Bottoms	Individual		1,163	€9.98

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

What is the ownership structure of UP2?
Owner Type	Number of Shares	Ownership Percentage
Hedge Funds	7,339,684	5.49%
Individual Insiders	9,658,619	7.23%
General Public	16,967,985	12.7%
Institutions	99,700,835	74.6%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 70.02% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
12.2%	The Vanguard Group, Inc.	16,298,261	€262.1m	-0.2%	no data
11.1%	T. Rowe Price Group, Inc.	14,805,259	€238.1m	23.6%	0.02%
7.59%	BlackRock, Inc.	10,148,898	€163.2m	2.23%	no data
5.49%	Ancient Art, L.P.	7,339,684	€118.1m	0%	19.18%
3.65%	Engine Capital Management, LP	4,875,619	€78.4m	0%	11.36%
2.49%	Capital Research and Management Company	3,333,374	€53.6m	39.7%	no data
2.46%	Baillie Gifford & Co.	3,292,305	€53.0m	-8.98%	0.02%
2.25%	State Street Global Advisors, Inc.	3,009,193	€48.4m	-8.35%	no data
2.15%	Geode Capital Management, LLC	2,872,186	€46.2m	-0.65%	no data
2.14%	Gregory Gretsch	2,858,787	€46.0m	0%	no data
1.98%	Dorsey Asset Management LLC	2,647,145	€42.6m	-2.87%	3.54%
1.98%	Kevin Harvey	2,641,821	€42.5m	0%	no data
1.75%	Invenomic Capital Management LP	2,334,612	€37.5m	12.6%	5.23%
1.57%	Thomas Layton	2,096,809	€33.7m	0%	no data
1.47%	Teachers Insurance and Annuity Association-College Retirement Equities Fund	1,965,081	€31.6m	-28%	0.01%
1.37%	Atomvest Limited	1,831,516	€29.5m	0%	34.49%
1.34%	Dimensional Fund Advisors LP	1,789,969	€28.8m	-0.94%	no data
1.22%	Two Sigma Investments, LP	1,632,751	€26.3m	-4.62%	0.06%
0.99%	Voloridge Investment Management, LLC	1,326,148	€21.3m	98.1%	0.08%
0.93%	Hayden Brown	1,238,156	€19.9m	5.03%	no data
0.9%	Renaissance Technologies LLC	1,202,000	€19.3m	-34.6%	0.03%
0.85%	Northern Trust Global Investments	1,133,444	€18.2m	-0.91%	no data
0.79%	Two Sigma Advisers, LP	1,062,400	€17.1m	-22.5%	0.04%
0.76%	Charles Schwab Investment Management, Inc.	1,011,508	€16.3m	1.47%	no data
0.63%	Trexquant Investment LP	841,112	€13.5m	38.8%	0.17%

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/26 15:12
End of Day Share Price	2024/12/23 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Upwork Inc. is covered by 16 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Nathaniel Schindler	BofA Global Research
Marvin Fong	BTIG
Maria Ripps	Canaccord Genuity