Envestnet Asset Management Inc. Sells 5,213 Shares of Workiva Inc. (NYSE:WK)

Envestnet Asset Management Inc. cut its holdings in shares of Workiva Inc. (NYSE:WK - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 185,634 shares of the software maker's stock after selling 5,213 shares during the quarter. Envestnet Asset Management Inc. owned about 0.34% of Workiva worth $20,327,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of WK. Nisa Investment Advisors LLC grew its holdings in shares of Workiva by 8.7% in the 4th 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 last quarter. World Investment Advisors raised its holdings in Workiva by 2.7% in the fourth quarter. World Investment Advisors now owns 5,135 shares of the software maker's stock worth $562,000 after purchasing an additional 135 shares during the period. Park Avenue Securities LLC boosted its position in shares of Workiva by 4.5% during the fourth quarter. Park Avenue Securities LLC now owns 4,561 shares of the software maker's stock worth $499,000 after purchasing an additional 198 shares in the last quarter. Arizona State Retirement System raised its stake in Workiva by 1.6% during the 4th quarter. Arizona State Retirement System now owns 14,170 shares of the software maker's stock worth $1,552,000 after buying an additional 224 shares during the period. Finally, Twin Tree Management LP acquired a new stake in shares of Workiva during the fourth quarter worth $25,000. 92.21% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Workiva news, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction that occurred 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 transaction, the director now directly owns 34,084 shares of the company's stock, valued at $3,023,250.80. The trade was a 2.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brandon Ziegler sold 4,115 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.72, for a total transaction of $352,737.80. Following the transaction, the chief accounting officer now directly owns 103,509 shares of the company's stock, valued at approximately $8,872,791.48. This trade represents a 3.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,129 shares of company stock worth $1,807,333. 3.86% of the stock is owned by company insiders.

Workiva Stock Up 0.2 %

NYSE:WK traded up $0.14 during trading hours on Friday, hitting $67.54. 345,533 shares of the company traded hands, compared to its average volume of 491,050. The firm's 50-day simple moving average is $81.17 and its 200-day simple moving average is $91.18. The company has a market cap of $3.79 billion, a PE ratio of -73.41 and a beta of 1.02. Workiva Inc. has a one year low of $60.50 and a one year high of $116.83.

Wall Street Analyst Weigh In

WK has been the subject of a number of recent research reports. Truist Financial reduced their price objective on shares of Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a research note on Monday, April 7th. BMO Capital Markets decreased their target price on Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Stephens began coverage on Workiva in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $111.00 price target for the company. Stifel Nicolaus lowered their price target on shares of Workiva from $130.00 to $120.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group reduced their price objective on shares of Workiva from $118.00 to $105.00 and set a "buy" rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $114.33.

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.