Workiva Inc. (NYSE:WK) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its position in shares of Workiva Inc. (NYSE:WK) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,634 shares of the software maker’s stock after selling 5,213 shares during the period. Envestnet Asset Management Inc. owned about 0.34% of Workiva worth $20,327,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Workiva in the 4th quarter valued at about $59,676,000. Nordea Investment Management AB purchased a new stake in shares of Workiva in the 4th quarter valued at approximately $59,894,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Workiva in the 4th quarter valued at $51,353,000. Conestoga Capital Advisors LLC lifted its position in shares of Workiva by 13.7% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker’s stock worth $127,570,000 after purchasing an additional 140,310 shares during the last quarter. Finally, TimesSquare Capital Management LLC grew its stake in shares of Workiva by 19.7% during the fourth quarter. TimesSquare Capital Management LLC now owns 559,961 shares of the software maker’s stock worth $61,316,000 after purchasing an additional 92,192 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 other Workiva news, EVP Michael D. Hawkins sold 10,421 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.43, for a total value of $890,266.03. Following the sale, the executive vice president now directly owns 61,298 shares of the company’s stock, valued at approximately $5,236,688.14. This trade represents a 14.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert H. Herz sold 1,000 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $88.70, for a total transaction of $88,700.00. Following the sale, the director now directly owns 34,084 shares of the company’s stock, valued at $3,023,250.80. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,129 shares of company stock worth $1,807,333. 3.86% of the stock is owned by corporate insiders.

Workiva Stock Performance

Workiva stock opened at $68.62 on Tuesday. Workiva Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $116.83. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of -74.59 and a beta of 1.02. The stock has a fifty day moving average of $82.99 and a two-hundred day moving average of $91.58.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WK shares. Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price objective on the stock in a report on Friday, January 3rd. Stifel Nicolaus cut their price objective on shares of Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Citigroup upped 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. BMO Capital Markets cut their price target on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, Truist Financial dropped their price objective on Workiva from $120.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, April 7th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $115.78.

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.