Insider Selling: Workiva Inc. (NYSE:WK) EVP Sells 10,421 Shares of Stock

Workiva Inc. (NYSE:WK) EVP Michael D. Hawkins sold 10,421 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.43, for a total transaction of $890,266.03. Following the completion of the transaction, the executive vice president now directly owns 61,298 shares of the company’s stock, valued at approximately $5,236,688.14. The trade was a 14.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Workiva Stock Down 1.0 %

Shares of WK traded down $0.87 during mid-day trading on Friday, reaching $85.89. 988,656 shares of the company’s stock were exchanged, compared to its average volume of 417,832. Workiva Inc. has a 52-week low of $65.47 and a 52-week high of $116.83. The company has a market cap of $4.76 billion, a price-to-earnings ratio of -93.36 and a beta of 1.09. The company has a 50-day simple moving average of $99.39 and a two-hundred day simple moving average of $91.20.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Workiva during the 4th quarter worth about $59,676,000. Nordea Investment Management AB acquired a new position in shares of Workiva in the 4th quarter valued at $59,894,000. Groupama Asset Managment purchased a new stake in shares of Workiva during the 3rd quarter valued at $381,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Workiva in the 4th quarter worth $51,353,000. Finally, Point72 Asset Management L.P. acquired a new position in Workiva in the fourth quarter valued at $32,863,000. 92.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on WK. BMO Capital Markets dropped their target price on Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Citigroup lifted their target price on shares of Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Stifel Nicolaus lowered their price objective on shares of Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group upped their target price on shares of Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. 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 research note on Friday, January 3rd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $121.57.

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.