UPWKNasdaqServices-Computer Processing & Data PreparationFiscal year ends December 31
UPWORK, INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026
$8.52+0.09 (+1.07%)
Close on Oct 19, 2026
- Market cap
- $1.11B
- P/E (TTM)
- 11.2
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
100.0%
126M of 125M shares
Institutional holders
297
58 new, 47 sold out
Net institutional buying
-8M
In Q2 2026
Insider trades, 12 months
0 buys · 43 sales
Net sold $15.80M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Vanguard Portfolio Management | 7,881,301 | 6.04% | 13G (passive) | Mar 31, 2026 |
| Quincy J. Lee | 7,744,477 | 6.20% | 13G (passive) | Jun 30, 2026 |
| Vanguard Capital Management | 6,597,364 | 5.06% | 13G (passive) | Mar 31, 2026 |
| Lsv Asset Management | 6,537,275 | 5.00% | 13G (passive) | Dec 31, 2025 |
| BlackRock, Inc. | 18,796,623 | 15.20% | 13G (passive) amendment | Jun 30, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of UPWK | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| BlackRock, Inc. | 19,259,723 | 15.42% | $161.01M | +403,601 | 0.00% |
| Vanguard Portfolio Management LLC | 7,898,745 | 6.32% | $66.03M | +124,397 | 0.00% |
| Ancient Art, L.P. | 7,228,530 | 5.79% | $60.43M | +1,268,621 | 12.35% |
| Lsv Asset Management | 6,381,628 | 5.11% | $53.35K | −410,900 | 0.10% |
| Vanguard Capital Management LLC | 5,313,767 | 4.25% | $44.42M | −298,931 | 0.00% |
| State Street Corp | 5,195,259 | 4.16% | $43.43M | +69,917 | 0.00% |
| Capital International Investors | 4,857,612 | 3.89% | $40.61M | +134,054 | 0.01% |
| Dimensional Fund Advisors LP | 4,743,484 | 3.80% | $39.66M | +1,027,868 | 0.01% |
| Goldman Sachs Group Inc | 4,270,252 | 3.42% | $35.70M | +1,719,424 | 0.00% |
| Geode Capital Management, LLC | 3,253,955 | 2.61% | $27.21M | +110,675 | 0.00% |
| Rice Hall James & Associates, LLC | 2,776,805 | 2.22% | $23.21M | +1,468,638 | 1.13% |
| Morgan Stanley | 2,463,966 | 1.97% | $20.60M | +1,278,271 | 0.00% |
| Invenomic Capital Management LP | 2,406,922 | 1.93% | $20.12M | +492,421 | 1.20% |
| UBS Group AG | 2,142,846 | 1.72% | $17.91M | +586,335 | 0.00% |
| Millennium Management LLC | 1,853,448 | 1.48% | $15.49M | +818,027 | 0.01% |
| Renaissance Technologies LLC | 1,681,020 | 1.35% | $14.05M | −359,300 | 0.02% |
| Citadel Advisors LLC | 1,655,618 | 1.33% | $13.84M | +1,424,134 | 0.00% |
| Jupiter Asset Management Ltd | 1,578,957 | 1.26% | $13.20M | +150,657 | 0.07% |
| Two Sigma Investments, LP | 1,499,477 | 1.20% | $12.54M | +733,168 | 0.01% |
| Arrowstreet Capital, Limited Partnership | 1,481,789 | 1.19% | $12.39M | +1,250,959 | 0.01% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 297 | 126M | 100.0% | 58 / 117 | 86 / 47 | 26M | 34M |
| Q1 2026 | 292 | 135M | 100.0% | 55 / 115 | 90 / 61 | 35M | 20M |
| Q4 2025 | 305 | 135M | 100.0% | 76 / 118 | 86 / 38 | 33M | 19M |
| Q3 2025 | 277 | 123M | 98.2% | 51 / 96 | 95 / 39 | 21M | 15M |
| Q2 2025 | 268 | 118M | 94.3% | 46 / 104 | 85 / 53 | 16M | 15M |
| Q1 2025 | 278 | 117M | 93.9% | 74 / 79 | 84 / 46 | 26M | 16M |
| Q4 2024 | 253 | 110M | 88.1% | 65 / 80 | 79 / 28 | 24M | 19M |
| Q3 2024 | 220 | 104M | 83.6% | 40 / 67 | 85 / 65 | 33M | 22M |
| Q2 2024 | 250 | 104M | 83.4% | 46 / 92 | 80 / 43 | 16M | 16M |
| Q1 2024 | 250 | 105M | 83.8% | 41 / 94 | 85 / 45 | 12M | 23M |
| Q4 2023 | 258 | 115M | 92.4% | 59 / 85 | 82 / 31 | 21M | 13M |
| Q3 2023 | 232 | 107M | 85.7% | 45 / 84 | 72 / 24 | 23M | 19M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of UPWK | Value | % of fund | As of |
|---|---|---|---|---|---|
| iShares Core S&P Small-Cap ETF | 7,443,215 | 5.96% | $62.23M | 0.06% | Jun 30, 2026 |
| SMALLCAP World Fund Inc | 4,723,558 | 3.78% | $39.49M | 0.04% | Jun 30, 2026 |
| Vanguard Total Stock Market Index Fund | 3,687,208 | 2.95% | $30.83M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 3,158,028 | 2.53% | $26.40M | 0.03% | Jun 30, 2026 |
| Vanguard Small-Cap Index Fund | 2,688,737 | 2.15% | $22.48M | 0.01% | Jun 30, 2026 |
| Strategic Advisers U.S. Total Stock Fund | 2,184,832 | 1.75% | $19.27M | 0.02% | May 31, 2026 |
| Invenomic Fund | 1,569,060 | 1.26% | $14.37M | 1.68% | Jul 31, 2026 |
| Vanguard Small-Cap Growth Index Fund | 1,543,614 | 1.24% | $12.90M | 0.03% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 1,419,700 | 1.14% | $11.87M | 0.01% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 1,317,326 | 1.05% | $12.07M | 0.04% | Jul 31, 2026 |
| State Street(R) SPDR(R) Portfolio S&P 600(TM) Small Cap ETF | 1,132,849 | 0.91% | $9.47M | 0.06% | Jun 30, 2026 |
| iShares S&P Small-Cap 600 Growth ETF | 1,105,136 | 0.88% | $9.24M | 0.11% | Jun 30, 2026 |
| U.S. Small Cap Value Portfolio | 896,234 | 0.72% | $8.21M | 0.04% | Jul 31, 2026 |
| Pacer US Small Cap Cash Cows 100 ETF | 851,117 | 0.68% | $7.80M | 0.21% | Jul 31, 2026 |
| iShares Russell 2000 Value ETF | 811,884 | 0.65% | $6.79M | 0.05% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Hayden Brown | President & CEO, Director | 793,593 | 0.64% | Sep 22, 2026 |
| Erica Gessert | Chief Financial Officer | 373,222 | 0.30% | Sep 22, 2026 |
| Sabrina Mekhalfa | Chief Accounting Officer | 6,675 | 0.01% | Sep 22, 2026 |
| Anthony Ray Kappus | GM & Chief Operating Officer | 76,342 | 0.06% | Sep 22, 2026 |
| Dave Bottoms | GM, Marketplace | 2,678 | 0.00% | Mar 20, 2026 |
| Olivier Marie | Chief Accounting Officer | 748 | 0.00% | Aug 21, 2025 |
| Glenn Kelman | Director | 45,542 | 0.04% | Jun 8, 2026 |
| Dana L. Evan | Director | 56,835 | 0.05% | Jun 8, 2026 |
| Kevin Harvey | Director | 1,877,651 | 1.50% | Jun 8, 2026 |
| David H. Lissy | Director | 0 | – | Jun 8, 2026 |
| Claire Bramley | Director | 45,146 | 0.04% | Jun 8, 2026 |
| Thomas Layton | Director | 1,670,550 | 1.34% | Jun 8, 2026 |
| Gary Steele | Director | 91,336 | 0.07% | Jun 8, 2026 |
| Anilu Vazquez-Ubarri | Director | 83,968 | 0.07% | Jun 9, 2025 |
| Leela Srinivasan | Director | 79,469 | 0.06% | Jun 9, 2025 |
| Elizabeth A. Nelson | Director | 373,011 | 0.30% | May 14, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Hayden Brown President & CEO, Director | Sep 18, 2026 | Sale | −23,893 | $8.45 | $201.90K | 793,593 |
| Hayden Brown President & CEO, Director | Sep 18, 2026 | Option exercise | +17,733 | – | – | 788,809 |
| Hayden Brown President & CEO, Director | Sep 18, 2026 | Option exercise | +28,677 | – | – | 817,486 |
| Sabrina Mekhalfa Chief Accounting Officer | Sep 18, 2026 | Sale | −1,299 | $8.45 | $10.98K | 6,675 |
| Sabrina Mekhalfa Chief Accounting Officer | Sep 18, 2026 | Option exercise | +3,578 | – | – | 7,974 |
| Erica Gessert Chief Financial Officer | Sep 18, 2026 | Option exercise | +8,433 | – | – | 373,222 |
| Erica Gessert Chief Financial Officer | Sep 18, 2026 | Option exercise | +9,700 | – | – | 382,922 |
| Erica Gessert Chief Financial Officer | Sep 18, 2026 | Sale | −9,336 | $8.45 | $78.89K | 373,586 |
| Anthony Ray Kappus GM & Chief Operating Officer | Sep 18, 2026 | Sale | −45,732 | $8.45 | $386.44K | 76,342 |
| Anthony Ray Kappus GM & Chief Operating Officer | Sep 18, 2026 | Option exercise | +114,860 | – | – | 122,074 |
| Erica Gessert Chief Financial Officer | Aug 18, 2026 | Sale | −22,844 | $8.43 | $192.57K | 364,789 |
| Erica Gessert Chief Financial Officer | Aug 18, 2026 | Option exercise | +8,524 | – | – | 387,633 |
| Erica Gessert Chief Financial Officer | Aug 18, 2026 | Option exercise | +37,500 | – | – | 379,109 |
| Hayden Brown President & CEO, Director | Aug 18, 2026 | Option exercise | +14,850 | – | – | 812,345 |
| Hayden Brown President & CEO, Director | Aug 18, 2026 | Sale(10b5-1 plan) | −50,000 | $8.43 | $421.50K | 771,076 |
| Hayden Brown President & CEO, Director | Aug 18, 2026 | Option exercise | +13,639 | – | – | 844,317 |
| Hayden Brown President & CEO, Director | Aug 18, 2026 | Option exercise | +18,333 | – | – | 830,678 |
| Hayden Brown President & CEO, Director | Aug 18, 2026 | Sale(10b5-1 plan) | −23,241 | $8.43 | $195.92K | 821,076 |
| Anthony Ray Kappus GM & Chief Operating Officer | Aug 18, 2026 | Option exercise | +5,115 | – | – | 9,178 |
| Anthony Ray Kappus GM & Chief Operating Officer | Aug 18, 2026 | Sale | −1,964 | $8.43 | $16.56K | 7,214 |
| Anthony Ray Kappus GM & Chief Operating Officer | Jul 18, 2026 | Sale | −558 | $9.06 | $5.06K | 4,063 |
| Anthony Ray Kappus GM & Chief Operating Officer | Jul 18, 2026 | Option exercise | +1,412 | – | – | 4,621 |
| Erica Gessert Chief Financial Officer | Jun 18, 2026 | Option exercise | +9,700 | – | – | 350,778 |
| Erica Gessert Chief Financial Officer | Jun 18, 2026 | Option exercise | +8,432 | – | – | 341,078 |
| Erica Gessert Chief Financial Officer | Jun 18, 2026 | Sale | −9,169 | $8.15 | $74.73K | 341,609 |
| Hayden Brown President & CEO, Director | Jun 18, 2026 | Option exercise | +17,733 | – | – | 792,285 |
| Hayden Brown President & CEO, Director | Jun 18, 2026 | Option exercise | +28,678 | – | – | 820,963 |
| Hayden Brown President & CEO, Director | Jun 18, 2026 | Sale | −23,468 | $8.15 | $191.26K | 797,495 |
| Sabrina Mekhalfa Chief Accounting Officer | Jun 18, 2026 | Option exercise | +3,577 | – | – | 5,672 |
| Sabrina Mekhalfa Chief Accounting Officer | Jun 18, 2026 | Sale | −1,276 | $8.15 | $10.40K | 4,396 |
| Dana L. Evan Director | Jun 4, 2026 | Award | +20,880 | – | – | 56,835 |
| Kevin Harvey Director | Jun 4, 2026 | Award | +6,207 | – | – | 126,336 |
| Kevin Harvey Director | Jun 4, 2026 | Award | +20,880 | – | – | 147,216 |
| Claire Bramley Director | Jun 4, 2026 | Award | +45,146 | – | – | 45,146 |
| Glenn Kelman Director | Jun 4, 2026 | Award | +6,207 | – | – | 45,542 |
| Glenn Kelman Director | Jun 4, 2026 | Award | +20,880 | – | – | 66,422 |
| Thomas Layton Director | Jun 4, 2026 | Award | +6,772 | – | – | 31,416 |
| Thomas Layton Director | Jun 4, 2026 | Award | +20,880 | – | – | 52,296 |
| Thomas Layton Director | Jun 4, 2026 | Award | +6,207 | – | – | 24,644 |
| Gary Steele Director | Jun 4, 2026 | Award | +6,207 | – | – | 91,336 |
| Gary Steele Director | Jun 4, 2026 | Award | +20,880 | – | – | 112,216 |
| David H. Lissy Director | Jun 4, 2026 | Award | +45,146 | – | – | 45,146 |
| David H. Lissy Director | Jun 4, 2026 | Award | +20,880 | – | – | 66,026 |
| Erica Gessert Chief Financial Officer | May 18, 2026 | Option exercise | +8,524 | – | – | 354,808 |
| Erica Gessert Chief Financial Officer | May 18, 2026 | Option exercise | +37,500 | – | – | 346,284 |
| Erica Gessert Chief Financial Officer | May 18, 2026 | Sale | −22,162 | $8.66 | $191.92K | 332,646 |
| Anthony Ray Kappus GM & Chief Operating Officer | May 18, 2026 | Sale | −1,905 | $8.66 | $16.50K | 3,209 |
| Anthony Ray Kappus GM & Chief Operating Officer | May 18, 2026 | Option exercise | +5,114 | – | – | 5,114 |
| Hayden Brown President & CEO, Director | May 18, 2026 | Option exercise | +14,850 | – | – | 815,126 |
| Hayden Brown President & CEO, Director | May 18, 2026 | Option exercise | +18,334 | – | – | 833,460 |
| Hayden Brown President & CEO, Director | May 18, 2026 | Option exercise | +13,638 | – | – | 847,098 |
| Hayden Brown President & CEO, Director | May 18, 2026 | Sale(10b5-1 plan) | −50,000 | $8.57 | $428.50K | 774,552 |
| Hayden Brown President & CEO, Director | May 18, 2026 | Sale(10b5-1 plan) | −22,546 | $8.66 | $195.25K | 824,552 |
| Dave Bottoms GM, Marketplace | Mar 19, 2026 | Sale(10b5-1 plan) | −7,000 | $11.49 | $80.43K | 2,678 |
| Sabrina Mekhalfa Chief Accounting Officer | Mar 18, 2026 | Sale | −1,482 | $12.31 | $18.24K | 2,095 |
| Sabrina Mekhalfa Chief Accounting Officer | Mar 18, 2026 | Option exercise | +3,577 | – | – | 3,577 |
| Erica Gessert Chief Financial Officer | Mar 18, 2026 | Option exercise | +9,699 | – | – | 316,518 |
| Erica Gessert Chief Financial Officer | Mar 18, 2026 | Sale | −9,278 | $12.31 | $114.21K | 307,240 |
| Erica Gessert Chief Financial Officer | Mar 18, 2026 | Option exercise | +8,433 | – | – | 306,819 |
| Hayden Brown President & CEO, Director | Mar 18, 2026 | Option exercise | +17,733 | – | – | 793,800 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Kappus Anthony Officer | Sep 18, 2026 | 45,732 | $386.48K | Sep 18, 2026 | Restricted Stock |
| Brown Hayden Officer, Director | Sep 18, 2026 | 23,893 | $201.92K | Sep 18, 2026 | Restricted Stock |
| Gessert Erica Officer | Sep 18, 2026 | 9,336 | $78.90K | Sep 18, 2026 | Restricted Stock |
| Brown Hayden Director, Officer | Aug 18, 2026 | 50,000 | $409.50K | Aug 18, 2026 | RSU/PSU |
| Gessert Erica Officer | Aug 18, 2026 | 22,844 | $192.48K | Aug 18, 2026 | Restricted Stock |
| Brown Hayden Officer, Director | Aug 18, 2026 | 23,241 | $195.82K | Aug 18, 2026 | Performance Shares |
| Brown Hayden Officer, Director | Jun 18, 2026 | 23,468 | $191.28K | Jun 18, 2026 | Restricted Stock |
| Gessert Erica Officer | Jun 18, 2026 | 9,169 | $74.73K | Jun 18, 2026 | Restricted Stock |
| Brown Hayden Director, Officer | May 18, 2026 | 50,000 | $408.50K | May 18, 2026 | Restricted stock units and Performance stock units |
| Brown Hayden Officer, Director | May 18, 2026 | 22,546 | $195.33K | May 18, 2026 | Performance Shares |
| Gessert Erica Officer | May 18, 2026 | 22,162 | $192.00K | May 18, 2026 | Restricted Stock |
| Bottoms David Officer | Mar 19, 2026 | 7,000 | $84.63K | Mar 19, 2026 | Restricted Stock Units |
| Brown Hayden Officer, Director | Mar 18, 2026 | 23,745 | $292.34K | Mar 18, 2026 | Restricted Stock |
| Gessert Erica Officer | Mar 18, 2026 | 9,278 | $114.23K | Mar 18, 2026 | Restricted Stock |
| Bottoms David Officer | Mar 18, 2026 | 11,575 | $142.51K | Mar 18, 2026 | Restricted Stock |