Mirae Asset Global Investments Co. Ltd. Sells 74,177 Shares of Workiva Inc. (NYSE:WK)

Mirae Asset Global Investments Co. Ltd. lessened its stake in Workiva Inc. (NYSE:WK) by 21.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 273,328 shares of the software maker’s stock after selling 74,177 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.51% of Workiva worth $27,787,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of WK. Vanguard Group Inc. raised its position in shares of Workiva by 0.8% in the third quarter. Vanguard Group Inc. now owns 4,328,052 shares of the software maker’s stock valued at $336,722,000 after purchasing an additional 33,593 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Workiva by 23.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,022,057 shares of the software maker’s stock worth $199,426,000 after acquiring an additional 564,500 shares during the period. Riverbridge Partners LLC grew its position in shares of Workiva by 4.2% in the second quarter. Riverbridge Partners LLC now owns 2,094,779 shares of the software maker’s stock valued at $212,955,000 after purchasing an additional 83,805 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Workiva by 12.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,985,617 shares of the software maker’s stock valued at $166,733,000 after purchasing an additional 227,006 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Workiva by 0.7% during the 1st quarter. Ameriprise Financial Inc. now owns 1,552,388 shares of the software maker’s stock worth $158,982,000 after purchasing an additional 11,041 shares in the last quarter. Hedge funds and other institutional investors own 83.69% of the company’s stock.

Insider Buying and Selling at Workiva

In other news, CAO Brandon Ziegler sold 1,370 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $88.50, for a total value of $121,245.00. Following the sale, the chief accounting officer now directly owns 85,523 shares of the company’s stock, valued at $7,568,785.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Workiva news, Director Robert H. Herz sold 1,500 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $89.32, for a total value of $133,980.00. Following the completion of the transaction, the director now owns 23,651 shares of the company’s stock, valued at approximately $2,112,507.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Brandon Ziegler sold 1,370 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $88.50, for a total transaction of $121,245.00. Following the sale, the chief accounting officer now directly owns 85,523 shares in the company, valued at approximately $7,568,785.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,865 shares of company stock worth $425,339. 5.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WK. Stifel Nicolaus cut their price objective on shares of Workiva from $97.00 to $92.00 and set a “hold” rating for the company in a research report on Tuesday, October 31st. BMO Capital Markets upped their target price on Workiva from $115.00 to $123.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 20th. Northland Securities lifted their price target on Workiva from $90.00 to $115.00 in a research report on Friday, August 4th. Wolfe Research initiated coverage on shares of Workiva in a research note on Monday, August 28th. They issued an “outperform” rating and a $120.00 target price on the stock. Finally, The Goldman Sachs Group boosted their price target on shares of Workiva from $108.00 to $121.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $115.38.

Workiva Price Performance

Shares of Workiva stock opened at $94.63 on Tuesday. The company has a debt-to-equity ratio of 2,262.59, a quick ratio of 2.16 and a current ratio of 2.16. The company has a fifty day moving average of $97.74 and a 200-day moving average of $99.41. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of -37.11 and a beta of 1.09. Workiva Inc. has a 52-week low of $72.65 and a 52-week high of $116.00.

Workiva (NYSE:WK) last announced its quarterly earnings data on Monday, October 30th. The software maker reported ($1.01) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.66). Workiva had a negative return on equity of 26,521.01% and a negative net margin of 22.60%. The business had revenue of $158.18 million during the quarter, compared to analysts’ expectations of $155.45 million. Equities research analysts expect that Workiva Inc. will post -2.35 EPS for the current year.

Workiva Company Profile

Workiva Inc, together with its subsidiaries, provides cloud-based compliance and regulatory reporting solutions worldwide. The company offers Workiva platform that offers controlled collaboration, data linking, data integrations, granular permissions, process management, and full audit trail services; and provides tools that enables customers to connect data from enterprise resource planning, human capital management, and customer relationship management systems, as well as from other third-party cloud and on-premise applications.