Upwork Ownership

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

Recent Insider Transactions

NasdaqGS:UPWK Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
26 Nov 25	SellUS$6,827,478	Hayden Brown	Individual	350,000	US$19.78
21 Nov 25	SellUS$1,092,114	Hayden Brown	Individual	60,000	US$18.20
21 Nov 25	SellUS$218,849	Gary Steele	Individual	12,500	US$17.51
08 Aug 25	SellUS$115,937	Dave Bottoms	Individual	9,000	US$12.88
14 May 25	SellUS$8,746,450	Thomas Layton	Individual	500,000	US$17.52
12 May 25	SellUS$1,045,572	Elizabeth Nelson	Individual	60,000	US$17.43

Insider Trading Volume

Insider Buying: UPWK insiders have only sold shares in the past 3 months.

Ownership Breakdown

What is the ownership structure of UPWK?
Owner Type	Number of Shares	Ownership Percentage
Individual Insiders	8,717,546	6.24%
Institutions	130,975,357	93.8%

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

Top Shareholders

Top 25 shareholders own 77.54% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
14.1%	BlackRock, Inc.	18,421,755	US$384.1m	59.6%	no data
11.2%	The Vanguard Group, Inc.	14,666,762	US$305.8m	-2.63%	no data
10.2%	T. Rowe Price Group, Inc.	13,339,670	US$278.1m	-11.5%	0.02%
4.99%	LSV Asset Management	6,513,375	US$135.8m	-0.32%	0.26%
3.44%	Morgan Stanley	4,493,549	US$93.7m	1%	0.01%
3.27%	Ancient Art, L.P.	4,268,667	US$89.0m	13.1%	14.15%
2.36%	Geode Capital Management, LLC	3,085,118	US$64.3m	3%	no data
2.28%	State Street Global Advisors, Inc.	2,981,024	US$62.2m	-0.41%	no data
2.21%	Invesco Ltd.	2,890,103	US$60.3m	4.49%	0.01%
2.2%	Gregory Gretsch	2,870,141	US$59.8m	0%	no data
2.17%	Dimensional Fund Advisors LP	2,828,735	US$59.0m	2.58%	0.01%
2.04%	Kevin Harvey	2,670,686	US$55.7m	0%	no data
1.83%	Capital Research and Management Company	2,388,542	US$49.8m	-40.1%	no data
1.78%	Boston Partners Global Investors, Inc.	2,322,575	US$48.4m	435%	0.03%
1.43%	Allianz Asset Management GmbH	1,862,153	US$38.8m	94.1%	0.03%
1.41%	Goldman Sachs Asset Management, L.P.	1,842,467	US$38.4m	16.1%	0.01%
1.38%	Renaissance Technologies LLC	1,802,715	US$37.6m	-35.3%	0.05%
1.36%	The Goldman Sachs Group, Inc.	1,780,038	US$37.1m	53.1%	0.01%
1.34%	Balyasny Asset Management L.P.	1,753,332	US$36.6m	97.1%	0.08%
1.3%	Teachers Insurance and Annuity Association-College Retirement Equities Fund	1,697,597	US$35.4m	51.4%	0.01%
1.25%	Thomas Layton	1,639,134	US$34.2m	0%	no data
1.14%	Two Sigma Investments, LP	1,484,084	US$30.9m	-37.9%	0.05%
1.02%	Invenomic Capital Management LP	1,334,541	US$27.8m	187%	2.22%
0.91%	Northern Trust Global Investments	1,195,219	US$24.9m	0.31%	no data
0.9%	Baillie Gifford & Co.	1,178,263	US$24.6m	-33%	0.01%

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/12/28 07:46
End of Day Share Price	2025/12/26 00:00
Earnings	2025/09/30
Annual Earnings	2024/12/31

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.

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 Github.

Analyst Sources

Upwork Inc. is covered by 18 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