Upwork GM bottoms sells shares worth $446,254
#Dave Bottoms #Upwork #NASDAQ #Insider sale #Restricted Stock Units #Performance Stock Units #Rule 10b5‑1 #Tax withholding #Share repurchase #Market cap #P/E ratio #Analyst price target #Goldman Sachs #UBS #RBC Capital
📌 Key Takeaways
- Dave Bottoms sold 32,662 Upwork shares in two trades on February 18‑19 2026.
- Shares were sold at $13.28–$14.085, raising $446,254.
- Sale proceeded under a Rule 10b5‑1 trading plan adopted May 30 2025.
- It funded tax obligations tied to vesting of RSUs and PSUs.
- Upwork shares traded at $13.32, 33% YTD decline, near 52‑week low of $11.13.
- Company market cap: $1.73 billion; P/E: 16.
- Upwork announced a $300 million share repurchase program, total authorizations now $600 million.
- Analysts (Goldman Sachs, UBS, RBC Capital) lowered price targets but kept Buy ratings.
- Bottoms previously exercised options to acquire 28,912 and 3,750 shares.
📖 Full Retelling
Dave Bottoms, the general manager of Upwork’s marketplace, sold 32,662 shares of the company’s common stock for a total of $446,254 in two trades on February 18 and 19, 2026, with the proceeds used to satisfy tax withholding obligations arising from the vesting of Restricted Stock Units and Performance Stock Units.
The individual shares were sold at prices ranging from $13.28 to $14.085 on the Nasdaq-listed Upwork (NASDAQ: UPWK), whose shares were trading at $13.32 on the day of the sales—down 33% year‑to‑date and close to a 52‑week low of $11.13. The first transaction on February 18 involved 17,013 shares at an average price of $13.802, amounting to about $234,813. The second transaction on February 19 involved 15,649 shares at an average price of $13.5115, totaling roughly $211,441.
Bottoms carried out the sale under a pre‑arranged Rule 10b5‑1 trading plan that was adopted on May 30, 2025. Earlier that month, he had exercised options on February 17 and 18 that granted him 28,912 and 3,750 shares respectively, all stemming from performance and restricted stock units. After these transactions, he privately owned 345 shares of Upwork.
Upwork’s financial position remains stable, with a market capitalization of about $1.73 billion and a price‑to‑earnings ratio of 16. The company has also announced a $300 million share repurchase program, bringing total share repurchase authorizations to $600 million since November 2023.
Analysts have adjusted their outlooks: Goldman Sachs lowered its price target to $27; UBS cut its target to $23; RBC Capital trimmed its target to $20. All maintain a “Buy” or “Sector Perform” rating despite concerns over execution risk and revenue/EBITDA growth.
These events occurred amid broader market moves, including U.S. stocks closing lower on hawkish Fed minutes and global concerns about geopolitical tensions.
🏷️ Themes
Insider trading, Stock price volatility, Corporate governance, Share repurchase initiatives, Analyst sentiment
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Deep Analysis
Why It Matters
The sale by Upwork's GM indicates potential insider confidence in the company's valuation and may influence investor perception. It also highlights the company's ongoing share repurchase program and management's tax planning.
Context & Background
- Upwork shares are down 33% year-to-date and near the 52-week low
- The company has a $1.73 billion market cap and a P/E ratio of 16
- Management has executed a $300 million share repurchase program, adding to $600 million total authorized
What Happens Next
Analysts have lowered price targets but maintain buy ratings, suggesting cautious optimism. Future developments will likely focus on revenue growth, EBITDA performance, and potential further share buybacks.
Frequently Asked Questions
Why did Dave Bottoms sell shares?
To cover tax withholding obligations related to vesting of restricted stock units and performance stock units.
What is the impact of the sale on Upwork's stock?
The sale is a routine insider transaction and is unlikely to cause significant price movement.
What is the status of Upwork's share repurchase program?
The company has authorized $600 million for share buybacks, with $300 million already announced and $136 million used in 2025.
Original Source
try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Nvidia and OpenAI close to finalizing smaller, $30 bln investment- FT U.S. stocks end lower after hawkish Fed minutes; Walmart guidance falls short Gold largely flat as investors weigh geopolitical tensions, hawkish Fed minutes Berenberg sees more than 50% upside in this small-cap software stock (South Africa Philippines Nigeria) Upwork GM bottoms sells shares worth $446,254 By Investing.com Insider Trading Published 02/19/2026, 08:13 PM Upwork GM bottoms sells shares worth $446,254 0 UPWK -2.99% Upwork (NASDAQ:UPWK) General Manager, Marketplace, Dave Bottoms, sold a total of 32,662 shares of common stock in two transactions on February 18 and February 19, 2026, for approximately $446,254. The shares were sold at prices ranging from $13.34 to $14.085 and $13.28 to $13.79, respectively.The insider sale comes as Upwork shares trade at $13.32, down 33% year-to-date and near the stock’s 52-week low of $11.13. According to InvestingPro analysis, the stock appears undervalued at current levels, with the company maintaining a market cap of $1.73 billion and a P/E ratio of 16. On February 18, Bottoms sold 17,013 shares at a price of $13.802, totaling approximately $234,813. The following day, February 19, he sold 15,649 shares at a price of $13.5115, amounting to roughly $211,441. These sales were executed to cover tax withholding obligations related to the vesting of Restricted Stock Units or Performance Stock Units . The February 19 transaction was conducted under a pre-arranged Rule 10b5-1 trading plan adopted on May 30, 2025. In addition, Bottoms exercised options to acquire 28,912 shares of Upwork common stock on February 17 and 3,750 shares on February 18, both stemming from performance and restricted stock units. Following these transactions, Bottoms directly owns 345 shares of Upwork.InvestingPro offers deeper insights into Upwork’s financial health and 10+ additional ProTips for investors evaluating the stoc...
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