Trexquant Investment LP Acquires 40,329 Shares of Workiva Inc. (NYSE:WK)

Trexquant Investment LP lifted its stake in shares of Workiva Inc. (NYSE:WK - Free Report) by 85.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,428 shares of the software maker's stock after buying an additional 40,329 shares during the quarter. Trexquant Investment LP owned approximately 0.16% of Workiva worth $9,573,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Twin Tree Management LP acquired a new position in shares of Workiva during the fourth quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted 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 purchasing an additional 879 shares during the period. Nisa Investment Advisors LLC grew its holdings 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 valued at $159,000 after acquiring an additional 116 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Workiva in the third quarter valued at about $168,000. Finally, Quantinno Capital Management LP bought a new stake in shares of Workiva in the 3rd quarter valued at approximately $207,000. Institutional investors own 92.21% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WK. The Goldman Sachs Group decreased 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. Stifel Nicolaus lowered their price objective on shares of Workiva from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Raymond James raised shares of 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. BMO Capital Markets decreased their price target on shares of Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Finally, Stephens started coverage on shares of Workiva in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $111.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $118.38.

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Workiva Stock Down 2.6 %

NYSE WK traded down $1.78 on Friday, reaching $67.47. The company had a trading volume of 1,269,937 shares, compared to its average volume of 467,065. Workiva Inc. has a 52 week low of $63.96 and a 52 week high of $116.83. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of -73.34 and a beta of 1.02. The stock's 50 day moving average is $88.44 and its 200-day moving average is $92.17.

Insider Buying and Selling

In other news, EVP Michael D. Hawkins sold 10,421 shares of the firm's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.43, for a total transaction of $890,266.03. Following the sale, the executive vice president now owns 61,298 shares of the company's stock, valued at $5,236,688.14. This trade represents a 14.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Brandon Ziegler sold 4,115 shares of Workiva stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.72, for a total value of $352,737.80. Following the transaction, the chief accounting officer now owns 103,509 shares in the company, valued at $8,872,791.48. This trade represents a 3.82 % decrease in their position. 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 90 days. 3.86% of the stock is owned by insiders.

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.