T. Rowe Price Associates Slashes Upwork Inc. (UPWK) Stake to 0.2%

On June 5, 2026, T. Rowe Price Associates, Inc. filed a Schedule 13G/A (Amendment No. 5) regarding its holdings in Upwork Inc. (UPWK). The filing reveals a massive reduction in the firm's position. As of the event date on May 31, 2026, T. Rowe Price reported owning 229,581 shares of common stock, representing a mere 0.2% of the company. This is a significant decrease from its previous position of 17,432,565 shares, which accounted for a 13.4% stake in the issuer. The reporting person maintains sole voting power over 222,978 shares and sole dispositive power over all 229,581 shares. By dropping below the 5% ownership threshold, the filer indicated that the securities are held in the ordinary course of business and not for the purpose of influencing or changing control of the company. This divestment marks a near-total exit from its major shareholder status in Upwork.