Insider Selling: Workiva Inc. (NYSE:WK) CAO Sells 4,115 Shares of Stock

Workiva Inc. (NYSE:WK) CAO Brandon Ziegler sold 4,115 shares of Workiva stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.72, for a total transaction of $352,737.80. Following the completion of the sale, the chief accounting officer now directly owns 103,509 shares of the company’s stock, valued at approximately $8,872,791.48. The trade was a 3.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Workiva Stock Performance

Shares of NYSE WK traded down $0.87 during midday trading on Friday, hitting $85.89. 988,656 shares of the company’s stock traded hands, compared to its average volume of 417,832. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of -93.36 and a beta of 1.09. The firm has a fifty day moving average of $99.39 and a 200 day moving average of $91.20. Workiva Inc. has a 1 year low of $65.47 and a 1 year high of $116.83.

Analyst Ratings Changes

Several research firms have weighed in on WK. Robert W. Baird boosted their price objective on Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. BMO Capital Markets lowered their price target on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Raymond James upgraded shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price objective on the stock in a research report on Friday, January 3rd. Citigroup upped their price objective on shares of Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group raised their price target on Workiva from $120.00 to $133.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.57.

Hedge Funds Weigh In On Workiva

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Workiva by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,800,074 shares of the software maker’s stock worth $635,108,000 after buying an additional 70,820 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in Workiva by 10.3% during 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 purchasing an additional 200,220 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in Workiva by 13.7% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker’s stock valued at $127,570,000 after acquiring an additional 140,310 shares during the period. Geode Capital Management LLC lifted its holdings in Workiva by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker’s stock valued at $90,597,000 after buying an additional 35,029 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Workiva by 3.0% in the fourth quarter. First Trust Advisors LP now owns 824,219 shares of the software maker’s stock valued at $90,252,000 after purchasing an additional 24,172 shares during the period. 92.21% of the stock is currently owned by institutional investors.

About Workiva

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.