Workiva Inc. (NYSE:WK) Shares Sold by Tensile Capital Management LP

Tensile Capital Management LP lessened its holdings in shares of Workiva Inc. (NYSE:WK) by 27.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 304,605 shares of the software maker’s stock after selling 113,716 shares during the period. Workiva makes up approximately 2.6% of Tensile Capital Management LP’s portfolio, making the stock its 14th biggest holding. Tensile Capital Management LP’s holdings in Workiva were worth $24,100,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in Workiva during the third quarter worth $28,000. Quarry LP boosted 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 purchasing an additional 166 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Workiva in the second quarter valued at $62,000. Headlands Technologies LLC lifted its position in shares of Workiva by 896.0% in the second quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker’s stock valued at $128,000 after acquiring an additional 1,577 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Workiva by 8.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,347 shares of the software maker’s stock valued at $171,000 after acquiring an additional 179 shares in the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Michael D. Hawkins sold 2,761 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.60, for a total transaction of $205,970.60. Following the transaction, the executive vice president now directly owns 49,887 shares in the company, valued at approximately $3,721,570.20. This represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.86% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WK. BMO Capital Markets upped their price objective on Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Robert W. Baird upped their price objective on Workiva from $94.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Stifel Nicolaus upped their price objective on Workiva from $85.00 to $102.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.20.

Workiva Trading Down 0.6 %

NYSE WK opened at $100.80 on Friday. The business’s 50-day moving average price is $86.30 and its 200 day moving average price is $79.07. Workiva Inc. has a twelve month low of $65.47 and a twelve month high of $105.00.

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.