Harvest Fund Management Co. Ltd Makes New $431,000 Investment in Workiva Inc. (NYSE:WK)

Harvest Fund Management Co. Ltd purchased a new position in shares of Workiva Inc. (NYSE:WK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,940 shares of the software maker’s stock, valued at approximately $431,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Xponance Inc. raised its position in Workiva by 9.3% during the fourth quarter. Xponance Inc. now owns 3,609 shares of the software maker’s stock worth $395,000 after acquiring an additional 308 shares in the last quarter. William Blair Investment Management LLC raised its position in Workiva by 12.5% during the fourth quarter. William Blair Investment Management LLC now owns 445,628 shares of the software maker’s stock worth $48,796,000 after acquiring an additional 49,549 shares in the last quarter. Cibc World Markets Corp bought a new position in shares of Workiva in the fourth quarter valued at about $517,000. Twin Tree Management LP bought a new position in shares of Workiva in the fourth quarter valued at about $25,000. Finally, Nicholas Company Inc. raised its position in shares of Workiva by 9.7% in the fourth quarter. Nicholas Company Inc. now owns 74,056 shares of the software maker’s stock valued at $8,109,000 after purchasing an additional 6,523 shares during the period. 92.21% of the stock is owned by institutional investors.

Workiva Stock Performance

NYSE:WK opened at $87.28 on Friday. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of -94.87 and a beta of 1.09. Workiva Inc. has a 52 week low of $65.47 and a 52 week high of $116.83. The firm’s 50-day simple moving average is $94.33 and its 200 day simple moving average is $91.82.

Insider Activity

In related news, EVP Michael D. Hawkins sold 10,421 shares of Workiva stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.43, for a total transaction of $890,266.03. Following the sale, the executive vice president now directly owns 61,298 shares in the company, valued at $5,236,688.14. This trade represents a 14.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert H. Herz sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the transaction, the director now owns 34,084 shares of the company’s stock, valued at approximately $3,023,250.80. The trade was a 2.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,129 shares of company stock worth $1,807,333. Corporate insiders own 3.86% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. BMO Capital Markets dropped their price objective on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Robert W. Baird increased their price objective on shares of Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Stifel Nicolaus dropped their price objective on shares of Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group increased their price objective on shares of Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.25.

Workiva Company 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.