Things for UpWork have been solid for the past several months. A recent partnership with Microsoft has the rumor mill abuzz about a potential acquisition of the freelance platform. And there is even more good news for the average investor, as UpWork insiders are holding their shares closely, positing that the company is set for a strong year ahead.
Insiders and institutions continue to hold
All public companies have to disclose shareholder information for insiders and entities which hold more than 10% of a company’s stock. UpWork is no exception to this rule, and by the looks of it, these insiders and institutions are continuing to acquire more and more UPWK shares.
Insiders hold more than 12% of all UPWK shares, which is a significant number. This means company executives and directors feel bullish about their own company, which is always a good sign for investors. Meanwhile, institutions hold over 75% of the float, or, total shares available for trading. Institutional investors are often seen as industry experts, and these experts are displaying a positive sentiment by holding such a large percentage of UPWK shares.
