CIBC Private Wealth Group LLC Has $4.23 Million Stock Holdings in Workiva Inc. (NYSE:WK)

CIBC Private Wealth Group LLC cut its position in shares of Workiva Inc. (NYSE:WK - Free Report) by 28.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,117 shares of the software maker's stock after selling 15,214 shares during the quarter. CIBC Private Wealth Group LLC owned 0.07% of Workiva worth $4,230,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in WK. Twin Tree Management LP bought a new stake in Workiva in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC raised its position in Workiva by 14,650.0% in 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 in the last quarter. Nisa Investment Advisors LLC lifted its stake in Workiva by 8.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker's stock worth $159,000 after purchasing an additional 116 shares during the period. Truist Financial Corp acquired a new stake in Workiva during the fourth quarter valued at approximately $211,000. Finally, Heartwood Wealth Advisors LLC bought a new stake in shares of Workiva in the 4th quarter valued at approximately $219,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Workiva news, EVP Michael D. Hawkins sold 10,421 shares of the company's stock in a transaction dated Friday, March 7th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jill Klindt sold 5,593 shares of Workiva stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.04, for a total transaction of $475,628.72. Following the sale, the chief financial officer now owns 119,054 shares of the company's stock, valued at approximately $10,124,352.16. This represents a 4.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,129 shares of company stock valued at $1,807,333. 3.86% of the stock is currently owned by corporate insiders.

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Workiva Trading Down 10.1 %

Shares of WK traded down $7.76 during mid-day trading on Thursday, hitting $69.36. 1,098,550 shares of the company traded hands, compared to its average volume of 463,664. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of -75.39 and a beta of 1.02. The business has a 50-day moving average of $89.03 and a 200 day moving average of $92.22. Workiva Inc. has a one year low of $65.47 and a one year high of $116.83.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on WK shares. Stifel Nicolaus cut their target price on Workiva from $130.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. 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 note on Friday, December 13th. Raymond James upgraded 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 report on Friday, January 3rd. Stephens assumed coverage on shares of Workiva in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $111.00 price target on the stock. Finally, The Goldman Sachs Group decreased their price objective on shares of Workiva from $132.00 to $118.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Workiva has a consensus rating of "Moderate Buy" and a consensus price target of $118.38.

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.