Workiva Inc. (NYSE:WK) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lessened its position in Workiva Inc. (NYSE:WK - Free Report) by 20.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,068 shares of the software maker's stock after selling 16,121 shares during the quarter. Alliancebernstein L.P. owned 0.11% of Workiva worth $6,687,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the company. SG Americas Securities LLC grew its holdings in Workiva by 141.6% in the fourth quarter. SG Americas Securities LLC now owns 9,341 shares of the software maker's stock worth $1,023,000 after purchasing an additional 5,475 shares during the period. Nordea Investment Management AB bought a new position in Workiva in the fourth quarter worth approximately $59,894,000. Truist Financial Corp bought a new position in shares of Workiva in the fourth quarter worth about $211,000. World Investment Advisors LLC purchased a new stake in Workiva in the 3rd quarter worth $396,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Workiva by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,144,826 shares of the software maker's stock worth $90,597,000 after buying an additional 35,029 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Workiva

In related news, CAO Brandon Ziegler sold 4,115 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.72, for a total value of $352,737.80. Following the transaction, the chief accounting officer now owns 103,509 shares in the company, valued at $8,872,791.48. The trade was a 3.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 completion of the transaction, the director now directly owns 34,084 shares in the company, 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. Over the last ninety days, insiders sold 21,129 shares of company stock valued at $1,807,333. 3.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

WK has been the topic of several recent analyst reports. Stifel Nicolaus reduced their price target on Workiva from $130.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. The Goldman Sachs Group cut their price objective on Workiva from $132.00 to $118.00 and set a "buy" rating on the stock in a report on Friday, March 28th. BMO Capital Markets lowered their target price on Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Stephens assumed coverage on shares of Workiva in a report on Wednesday, March 19th. They issued an "overweight" rating and a $111.00 price objective for the company. Finally, Citigroup lifted their price objective on Workiva from $128.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, Workiva currently has an average rating of "Moderate Buy" and a consensus target price of $115.78.

Workiva Trading Up 0.0 %

Workiva stock traded up $0.03 during trading on Thursday, hitting $67.43. The company had a trading volume of 62,626 shares, compared to its average volume of 489,234. The company's 50 day simple moving average is $81.75 and its 200-day simple moving average is $91.26. Workiva Inc. has a 1-year low of $60.50 and a 1-year high of $116.83. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of -73.67 and a beta of 1.02.

Workiva 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.