Upwork CEO Brown sells $320k in shares after option exercise

Upwork (NASDAQ:UPWK) President and CEO Hayden Brown sold 23,716 shares of common stock on June 18, 2025, at a price of $13.5054, for a total of $320,294. The sales occurred in multiple transactions at prices ranging from $13.24 to $13.73 per share, with the stock currently trading at a notably low P/E ratio of 7.4x and maintaining impressive gross margins of nearly 78%.

On the same day, Brown also exercised options to acquire a total of 46,410 shares of Upwork’s common stock upon the vesting of restricted stock units. Following these transactions, Brown directly owns 1,153,485 shares of Upwork. The company maintains strong financial health with a "GREAT" rating according to InvestingPro, which offers 10+ additional exclusive insights about Upwork’s valuation and financial position.

In other recent news, Upwork Inc. reported impressive financial results for the first quarter of 2025, with revenue reaching $192.7 million, a 1% year-over-year increase, and surpassing market expectations. The company’s EBITDA also exceeded guidance by $6 million, leading to an increase in their 2026 EBITDA guidance by $10 million. Analysts from JMP Securities maintained a Market Outperform rating with an $18 price target, highlighting Upwork’s 29% EBITDA margin and projecting future margins to reach 35%. Meanwhile, Citi analysts adjusted their price target from $19 to $18, maintaining a Neutral rating due to macroeconomic uncertainties despite the positive earnings report.

Upwork’s strategic focus on AI and enterprise strategies appears to be driving its strong performance, with initiatives like the Ooma (NYSE:OOMA) AI platform enhancing user engagement. The company also reported a Gross Services Volume (GSV) of $988 million, a slight year-over-year decline but still above consensus expectations. The appointment of Dana L. Evan and Glenn Kelman to Upwork’s Board of Directors is part of the company’s efforts to bolster its AI strategy and expand its enterprise offerings. These developments reflect Upwork’s resilience amid challenging economic conditions and its commitment to future growth.

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