Workiva Inc. (NYSE:WK) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its position in shares of Workiva Inc. (NYSE:WK - Free Report) by 11.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 414,511 shares of the software maker's stock after selling 52,760 shares during the quarter. Renaissance Technologies LLC owned about 0.75% of Workiva worth $45,389,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Twin Tree Management LP bought a new position in shares of Workiva during the 4th quarter valued at approximately $25,000. EverSource Wealth Advisors LLC lifted its position in Workiva by 14,650.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker's stock valued at $97,000 after purchasing an additional 879 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Workiva by 8.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker's stock worth $159,000 after acquiring an additional 116 shares in the last quarter. Truist Financial Corp purchased a new stake in Workiva during the 4th quarter worth approximately $211,000. Finally, Heartwood Wealth Advisors LLC acquired a new position in Workiva during the fourth quarter worth $219,000. Institutional investors own 92.21% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on WK. Stephens initiated coverage on shares of Workiva in a research report on Wednesday, March 19th. They set an "overweight" rating and a $111.00 price objective for the company. Citigroup raised their price target on Workiva from $128.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Stifel Nicolaus dropped their target price on Workiva from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. 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 report on Monday, April 7th. Finally, Raymond James upgraded Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 price objective for the company in a report on Friday, January 3rd. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $115.78.

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Workiva Stock Performance

WK traded down $0.75 during trading on Wednesday, reaching $68.67. The stock had a trading volume of 74,203 shares, compared to its average volume of 488,446. The business has a 50-day moving average of $82.38 and a 200-day moving average of $91.42. Workiva Inc. has a one year low of $60.50 and a one year high of $116.83. The stock has a market cap of $3.85 billion, a PE ratio of -74.64 and a beta of 1.02.

Insider Buying and Selling

In related news, CAO Brandon Ziegler sold 4,115 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.72, for a total value of $352,737.80. Following the sale, the chief accounting officer now directly owns 103,509 shares in the company, valued at approximately $8,872,791.48. The trade was a 3.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert H. Herz sold 1,000 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $88.70, for a total transaction of $88,700.00. Following the sale, the director now directly owns 34,084 shares of the company's stock, 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. Insiders have sold a total of 21,129 shares of company stock worth $1,807,333 in the last quarter. Corporate insiders own 3.86% of the company's stock.

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.