544,989 Shares in Workiva Inc. (NYSE:WK) Acquired by Norges Bank

Norges Bank bought a new stake in shares of Workiva Inc. (NYSE:WK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 544,989 shares of the software maker's stock, valued at approximately $59,676,000. Norges Bank owned 0.98% of Workiva as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB acquired a new position in Workiva in the fourth quarter valued at $59,894,000. Groupama Asset Managment acquired a new stake in Workiva during the third quarter worth approximately $381,000. Jacobs Levy Equity Management Inc. bought a new stake in Workiva in the third quarter worth approximately $18,000,000. Janus Henderson Group PLC lifted its stake in Workiva by 839.8% in the third quarter. Janus Henderson Group PLC now owns 213,831 shares of the software maker's stock valued at $16,919,000 after buying an additional 191,078 shares during the period. Finally, Conestoga Capital Advisors LLC boosted its holdings in shares of Workiva by 13.7% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker's stock worth $127,570,000 after buying an additional 140,310 shares in the last quarter. Institutional investors and hedge funds own 92.21% of the company's stock.

Insiders Place Their Bets

In other Workiva news, Director Robert H. Herz sold 1,000 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $88.70, for a total value of $88,700.00. Following the completion of the transaction, the director now owns 34,084 shares in the company, valued at $3,023,250.80. This represents a 2.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael D. Hawkins sold 10,421 shares of Workiva stock in a transaction on Friday, March 7th. The stock was sold at an average price of $85.43, for a total value of $890,266.03. Following the sale, the executive vice president now owns 61,298 shares in the company, valued at $5,236,688.14. The trade was a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,129 shares of company stock valued at $1,807,333 in the last three months. 3.86% of the stock is currently owned by insiders.

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Workiva Trading Down 7.0 %

Workiva stock traded down $4.62 during trading on Tuesday, hitting $61.36. 1,315,739 shares of the company were exchanged, compared to its average volume of 477,984. The company has a market capitalization of $3.44 billion, a P/E ratio of -66.70 and a beta of 1.02. The business's 50 day moving average is $86.15 and its 200 day moving average is $91.94. Workiva Inc. has a 52 week low of $60.50 and a 52 week high of $116.83.

Analysts Set New Price Targets

WK has been the topic of a number of research reports. Robert W. Baird boosted their target price 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. The Goldman Sachs Group reduced their target price on Workiva from $132.00 to $118.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Truist Financial dropped their price target on Workiva from $120.00 to $95.00 and set a "buy" rating on the stock in a research note on Monday. Citigroup raised their price objective on Workiva from $128.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Finally, BMO Capital Markets decreased their price objective on Workiva from $120.00 to $108.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.78.

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.