Workiva (NYSE:WK) Sets New 1-Year Low - Should You Sell?

Workiva Inc. (NYSE:WK - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $64.30 and last traded at $64.61, with a volume of 111263 shares. The stock had previously closed at $69.25.

Analysts Set New Price Targets

A number of research firms have commented on WK. Stephens initiated coverage on shares of Workiva in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $111.00 target price on the stock. 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. BMO Capital Markets cut 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. The Goldman Sachs Group lowered their price target on Workiva from $132.00 to $118.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Finally, Raymond James upgraded Workiva from a "market perform" rating to an "outperform" rating and set a $135.00 price objective on the stock in a report on Friday, January 3rd. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $115.78.

Workiva Price Performance

The stock's 50 day moving average is $86.15 and its two-hundred day moving average is $91.94. The stock has a market capitalization of $3.89 billion, a PE ratio of -75.33 and a beta of 1.02.

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Insider Buying and Selling at Workiva

In other news, Director Robert H. Herz sold 1,000 shares of the company's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the completion of the transaction, the director now directly owns 34,084 shares of the company's stock, valued at approximately $3,023,250.80. This represents a 2.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jill Klindt sold 5,593 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.04, for a total value of $475,628.72. Following the completion of the transaction, the chief financial officer now owns 119,054 shares in the company, valued at approximately $10,124,352.16. The trade was a 4.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,129 shares of company stock valued at $1,807,333. Insiders own 3.86% of the company's stock.

Institutional Trading of Workiva

Several institutional investors have recently modified their holdings of the stock. Twin Tree Management LP purchased a new position in shares of Workiva in the 4th quarter valued at $25,000. Global Wealth Strategies & Associates purchased a new position in shares of Workiva during the first quarter worth about $53,000. Johnson Financial Group Inc. acquired a new stake in shares of Workiva during the fourth quarter worth about $66,000. GeoWealth Management LLC increased its position in shares of Workiva by 3,010.0% during the fourth quarter. GeoWealth Management LLC now owns 622 shares of the software maker's stock worth $68,000 after purchasing an additional 602 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Workiva by 14,650.0% in the 4th 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 last quarter. Hedge funds and other institutional investors own 92.21% of the company's stock.

About Workiva

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.