Workiva (NYSE:WK) Shares Down 4.8% - Time to Sell?

Shares of Workiva Inc. (NYSE:WK - Get Free Report) traded down 4.8% during mid-day trading on Wednesday . The company traded as low as $109.61 and last traded at $108.54. 71,919 shares traded hands during trading, a decline of 87% from the average session volume of 534,211 shares. The stock had previously closed at $114.04.

Analysts Set New Price Targets

WK has been the topic of several recent research reports. Robert W. Baird lifted their price target on Workiva from $110.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Citigroup lifted their target price on Workiva from $116.00 to $128.00 and gave the company a "buy" rating in a research report on Monday, December 16th. Stifel Nicolaus raised shares of Workiva from a "hold" rating to a "buy" rating and raised their price target for the stock from $102.00 to $130.00 in a research note on Wednesday, December 18th. BMO Capital Markets lifted their price objective on shares of Workiva from $96.00 to $104.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Finally, 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 report on Friday, January 3rd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Workiva currently has a consensus rating of "Moderate Buy" and an average target price of $122.14.

Workiva Price Performance

The stock has a market capitalization of $5.38 billion, a P/E ratio of -105.63 and a beta of 1.07. The company's 50-day simple moving average is $105.09 and its 200-day simple moving average is $87.25.

Institutional Trading of Workiva

Institutional investors and hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in shares of Workiva during the 3rd quarter worth about $28,000. Quarry LP lifted its position in Workiva by 57.8% during the second quarter. Quarry LP now owns 453 shares of the software maker's stock worth $33,000 after acquiring an additional 166 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Workiva during the second quarter worth approximately $62,000. Nisa Investment Advisors LLC boosted its holdings in shares of 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 acquiring an additional 116 shares during the period. Finally, Heartwood Wealth Advisors LLC acquired a new position in shares of Workiva in the fourth quarter valued at approximately $219,000. Institutional investors own 92.21% of the company's stock.

Workiva Company 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.

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