Harvest Fund Management Co. Ltd Takes Position in Workiva Inc. (NYSE:WK)

Harvest Fund Management Co. Ltd bought a new position in shares of Workiva Inc. (NYSE:WK - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,940 shares of the software maker's stock, valued at approximately $431,000.

A number of other institutional investors have also modified their holdings of the business. Twin Tree Management LP purchased a new position in Workiva during the 4th quarter worth $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of Workiva by 14,650.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker's stock worth $97,000 after buying an additional 879 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Workiva by 8.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker's stock valued at $159,000 after acquiring an additional 116 shares during the period. Truist Financial Corp purchased a new stake in Workiva during the 4th quarter valued at approximately $211,000. Finally, Heartwood Wealth Advisors LLC purchased a new stake in Workiva during the 4th quarter valued at approximately $219,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WK shares. The Goldman Sachs Group boosted their price objective on shares of Workiva from $120.00 to $133.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Raymond James raised Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 target price for the company in a research note on Friday, January 3rd. Stephens started coverage on Workiva in a report on Wednesday, March 19th. They issued an "overweight" rating and a $111.00 price target for the company. Citigroup increased their price objective on Workiva from $128.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus decreased their target price 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. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Workiva has a consensus rating of "Moderate Buy" and an average target price of $120.25.

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Workiva Stock Down 3.8 %

Shares of WK traded down $3.31 during mid-day trading on Wednesday, reaching $83.46. 762,602 shares of the company's stock were exchanged, compared to its average volume of 431,613. Workiva Inc. has a 52-week low of $65.47 and a 52-week high of $116.83. The company has a 50-day simple moving average of $93.50 and a two-hundred day simple moving average of $92.25. The company has a market cap of $4.68 billion, a price-to-earnings ratio of -90.72 and a beta of 1.09.

Insiders Place Their Bets

In other news, CAO Brandon Ziegler sold 4,115 shares of the company's stock in a transaction dated 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 transaction, the chief accounting officer now owns 103,509 shares of the company's stock, valued at $8,872,791.48. This represents a 3.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 completion of the sale, the director now directly owns 34,084 shares in the company, valued at $3,023,250.80. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,129 shares of company stock valued at $1,807,333. Corporate insiders own 3.86% of the company's stock.

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.