Woodline Partners LP Has $944,000 Stock Position in Workiva Inc. (NYSE:WK)

Woodline Partners LP decreased its position in Workiva Inc. (NYSE:WK) by 91.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,619 shares of the software maker’s stock after selling 98,172 shares during the period. Woodline Partners LP’s holdings in Workiva were worth $944,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Workiva by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 5,800,074 shares of the software maker’s stock valued at $635,108,000 after purchasing an additional 70,820 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Workiva by 10.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,148,021 shares of the software maker’s stock valued at $235,209,000 after buying an additional 200,220 shares during the last quarter. Conestoga Capital Advisors LLC boosted its position in shares of Workiva by 13.7% in the 4th quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker’s stock worth $127,570,000 after purchasing an additional 140,310 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Workiva by 3.0% in the 4th quarter. First Trust Advisors LP now owns 824,219 shares of the software maker’s stock worth $90,252,000 after purchasing an additional 24,172 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of Workiva by 11.8% in the 4th quarter. Loomis Sayles & Co. L P now owns 814,582 shares of the software maker’s stock worth $89,197,000 after purchasing an additional 86,207 shares during the last quarter. Institutional investors and hedge funds own 92.21% of the company’s stock.

Insider Activity

In related news, CAO Brandon Ziegler sold 4,115 shares of Workiva stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.72, for a total transaction of $352,737.80. Following the completion of the transaction, the chief accounting officer now owns 103,509 shares in the company, valued at approximately $8,872,791.48. This trade represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $88.70, for a total value of $88,700.00. Following the transaction, the director now owns 34,084 shares of the company’s stock, valued at $3,023,250.80. The trade was a 2.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,129 shares of company stock worth $1,807,333 in the last quarter. Corporate insiders own 4.05% of the company’s stock.

Workiva Trading Down 0.7%

WK stock opened at $67.08 on Tuesday. The stock has a 50-day moving average price of $71.64 and a two-hundred day moving average price of $89.31. The stock has a market cap of $3.74 billion, a PE ratio of -72.91 and a beta of 0.98. Workiva Inc. has a 1 year low of $60.50 and a 1 year high of $116.83.

Workiva (NYSE:WK) last announced its quarterly earnings data on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.07. The company had revenue of $206.28 million during the quarter, compared to the consensus estimate of $204.24 million. Workiva’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. On average, analysts forecast that Workiva Inc. will post -0.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on WK. Raymond James reduced their price target on Workiva from $125.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. The Goldman Sachs Group reduced their price target on Workiva from $118.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Truist Financial reduced their price target on Workiva from $120.00 to $95.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Stifel Nicolaus reduced their price target on Workiva from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Finally, BNP Paribas assumed coverage on Workiva in a research note on Tuesday, April 22nd. They set an “outperform” rating and a $100.00 price objective on the stock. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $106.30.

Workiva Profile

Workiva Inc, together with its subsidiaries, provides cloud-based reporting solutions in the United States and internationally. The company offers Workiva platform, a multi-tenant cloud software that provides data linking capabilities; audit trail services; administrators access management; and allows customers to connect data from multiple enterprise resource planning, human capital management, and customer relationship management systems, as well as other third-party cloud and on-premise applications.