Traders Purchase High Volume of WalkMe Call Options (NASDAQ:WKME)

WalkMe Ltd. (NASDAQ:WKME – Get Rating) was the target of some unusual options trading activity on Monday. Stock investors purchased 7,283 call options on the company. This is an increase of 13,906% compared to the average volume of 52 call options.

Institutional Investors Weigh In On WalkMe

Several institutional investors and hedge funds have recently added to or reduced their stakes in WKME. B. Riley Asset Management LLC increased its position in WalkMe by 21.7% in the 1st quarter. B. Riley Asset Management LLC now owns 913,096 shares of the company’s stock valued at $9,715,000 after acquiring an additional 162,931 shares during the period. Potrero Capital Research LLC boosted its stake in shares of WalkMe by 300.5% during the 1st quarter. Potrero Capital Research LLC now owns 171,590 shares of the company’s stock worth $1,826,000 after acquiring an additional 128,751 shares in the last quarter. Boothbay Fund Management LLC boosted its stake in shares of WalkMe by 43.5% during the 1st quarter. Boothbay Fund Management LLC now owns 349,379 shares of the company’s stock worth $3,717,000 after acquiring an additional 105,909 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of WalkMe by 24.6% during the 1st quarter. Renaissance Technologies LLC now owns 17,200 shares of the company’s stock worth $183,000 after acquiring an additional 3,400 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of WalkMe by 18.1% during the 1st quarter. Bank of America Corp DE now owns 50,003 shares of the company’s stock worth $532,000 after acquiring an additional 7,648 shares in the last quarter. 61.04% of the stock is currently owned by institutional investors and hedge funds.

WalkMe Stock Down 4.8 %

Shares of NASDAQ:WKME opened at $9.52 on Tuesday. WalkMe has a 52-week low of $6.87 and a 52-week high of $14.80. The stock’s fifty day simple moving average is $9.98 and its 200-day simple moving average is $9.83. The company has a market capitalization of $786.83 million, a P/E ratio of -8.50 and a beta of -0.23.

Analyst Ratings Changes

Several equities research analysts recently issued reports on WKME shares. Needham & Company LLC reissued a “buy” rating and issued a $20.00 target price on shares of WalkMe in a report on Wednesday, April 19th. BMO Capital Markets cut their target price on WalkMe from $11.00 to $10.50 in a research note on Thursday, May 18th. Citigroup decreased their target price on WalkMe from $12.00 to $10.00 in a report on Thursday, May 18th. 51job reaffirmed a “maintains” rating on shares of WalkMe in a research note on Thursday, May 18th. Finally, Morgan Stanley dropped their target price on WalkMe from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Thursday, February 16th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.21.

About WalkMe

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WalkMe Ltd. provides cloud-based digital adoption platform in the United States and internationally. Its digital adoption platform enables organizations to measure, drive, and act to maximize the impact of their digital transformation and accelerate the return on their software investment. The company was formerly known as Make Tutorial Ltd.