Workiva Inc. (NYSE:WK) Shares Sold by Redwood Investments LLC

Redwood Investments LLC reduced its position in shares of Workiva Inc. (NYSE:WKFree Report) by 83.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,314 shares of the software maker’s stock after selling 148,474 shares during the period. Redwood Investments LLC owned 0.05% of Workiva worth $2,976,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WK. Raymond James & Associates increased its position in Workiva by 4.8% during the first quarter. Raymond James & Associates now owns 36,473 shares of the software maker’s stock worth $4,304,000 after purchasing an additional 1,667 shares during the last quarter. MetLife Investment Management LLC increased its position in Workiva by 54.8% during the first quarter. MetLife Investment Management LLC now owns 22,917 shares of the software maker’s stock worth $2,704,000 after purchasing an additional 8,109 shares during the last quarter. Rhumbline Advisers increased its position in Workiva by 3.2% during the first quarter. Rhumbline Advisers now owns 44,602 shares of the software maker’s stock worth $5,263,000 after purchasing an additional 1,366 shares during the last quarter. Sei Investments Co. increased its position in Workiva by 34.7% during the first quarter. Sei Investments Co. now owns 125,714 shares of the software maker’s stock worth $14,834,000 after purchasing an additional 32,360 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Workiva by 3.6% during the first quarter. Vanguard Group Inc. now owns 4,316,544 shares of the software maker’s stock worth $509,353,000 after buying an additional 149,693 shares during the period. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Citigroup lowered their target price on shares of Workiva from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Stifel Nicolaus lowered their target price on shares of Workiva from $92.00 to $85.00 and set a “hold” rating for the company in a research note on Wednesday, February 21st. Finally, BMO Capital Markets lowered their target price on shares of Workiva from $123.00 to $113.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Workiva has an average rating of “Moderate Buy” and an average price target of $113.50.

Get Our Latest Research Report on WK

Insider Activity

In other news, EVP Michael D. Hawkins sold 11,439 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $93.62, for a total value of $1,070,919.18. Following the completion of the transaction, the executive vice president now owns 62,453 shares of the company’s stock, valued at $5,846,849.86. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 5.71% of the company’s stock.

Workiva Price Performance

NYSE WK opened at $84.80 on Monday. The firm has a 50 day simple moving average of $88.97 and a 200-day simple moving average of $94.34. Workiva Inc. has a one year low of $80.50 and a one year high of $116.00.

Workiva (NYSE:WKGet Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The software maker reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.10. The business had revenue of $166.65 million during the quarter, compared to analysts’ expectations of $164.44 million. Equities research analysts expect that Workiva Inc. will post -0.91 earnings per share for the current year.

About Workiva

(Free Report)

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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Institutional Ownership by Quarter for Workiva (NYSE:WK)

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