Wealthfront Advisers LLC bought a new stake in Workiva Inc. (NYSE:WK - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 71,015 shares of the software maker's stock, valued at approximately $7,776,000. Wealthfront Advisers LLC owned about 0.13% of Workiva at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in WK. SG Americas Securities LLC increased its stake in Workiva by 141.6% in the 4th quarter. SG Americas Securities LLC now owns 9,341 shares of the software maker's stock valued at $1,023,000 after buying an additional 5,475 shares during the last quarter. Mutual of America Capital Management LLC increased its position in shares of Workiva by 138.8% during the third quarter. Mutual of America Capital Management LLC now owns 54,059 shares of the software maker's stock valued at $4,277,000 after acquiring an additional 31,421 shares during the last quarter. Nordea Investment Management AB bought a new stake in Workiva during the fourth quarter worth $59,894,000. GSA Capital Partners LLP purchased a new position in Workiva in the third quarter worth $641,000. Finally, Impax Asset Management Group plc boosted its position in Workiva by 16.5% in the third quarter. Impax Asset Management Group plc now owns 158,586 shares of the software maker's stock worth $12,547,000 after purchasing an additional 22,500 shares during the last quarter. 92.21% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on WK shares. Raymond James upgraded Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 target price on the stock in a research note on Friday, January 3rd. The Goldman Sachs Group lifted their price objective on shares of Workiva from $120.00 to $133.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Stifel Nicolaus dropped their target price on shares of Workiva from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. BMO Capital Markets decreased their price target on shares of Workiva from $120.00 to $108.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Finally, Robert W. Baird upped their price objective on Workiva from $110.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $121.57.
Check Out Our Latest Stock Analysis on WK
Insider Buying and Selling at Workiva
In other news, EVP Michael D. Hawkins sold 10,421 shares of the 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 transaction, the executive vice president now directly owns 61,298 shares in the company, valued at approximately $5,236,688.14. This represents a 14.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Brandon Ziegler sold 4,115 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.72, for a total value of $352,737.80. Following the completion of the sale, the chief accounting officer now owns 103,509 shares of the company's stock, valued at $8,872,791.48. The trade was a 3.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,129 shares of company stock valued at $1,718,633 in the last quarter. 3.86% of the stock is currently owned by corporate insiders.
Workiva Trading Up 4.1 %
Shares of NYSE WK traded up $3.48 during mid-day trading on Friday, hitting $88.54. The company had a trading volume of 210,565 shares, compared to its average volume of 421,153. Workiva Inc. has a 1 year low of $65.47 and a 1 year high of $116.83. The company has a market capitalization of $4.97 billion, a price-to-earnings ratio of -96.27 and a beta of 1.09. The stock's 50-day moving average price is $96.98 and its 200-day moving average price is $91.43.
Workiva Company Profile
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Free Report)
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.
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