Workiva Inc. (NYSE:WK) Shares Sold by Aquatic Capital Management LLC

Aquatic Capital Management LLC cut its holdings in Workiva Inc. (NYSE:WK - Free Report) by 29.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,324 shares of the software maker's stock after selling 3,519 shares during the period. Aquatic Capital Management LLC's holdings in Workiva were worth $911,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WK. Vanguard Group Inc. raised its stake in shares of Workiva by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 5,800,074 shares of the software maker's stock valued at $635,108,000 after acquiring an additional 70,820 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Workiva by 10.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,148,021 shares of the software maker's stock worth $235,209,000 after buying an additional 200,220 shares during the period. Conestoga Capital Advisors LLC lifted its stake 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 acquiring an additional 140,310 shares during the last quarter. First Trust Advisors LP boosted its holdings in Workiva by 3.0% during the 4th quarter. First Trust Advisors LP now owns 824,219 shares of the software maker's stock valued at $90,252,000 after acquiring an additional 24,172 shares during the period. Finally, Loomis Sayles & Co. L P increased its position in shares of Workiva by 11.8% during the fourth quarter. Loomis Sayles & Co. L P now owns 814,582 shares of the software maker's stock worth $89,197,000 after acquiring an additional 86,207 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Workiva Stock Up 4.1 %

WK stock traded up $2.74 during mid-day trading on Tuesday, hitting $68.99. 220,177 shares of the company were exchanged, compared to its average volume of 509,325. The business has a fifty day simple moving average of $76.95 and a 200-day simple moving average of $90.64. Workiva Inc. has a 12-month low of $60.50 and a 12-month high of $116.83. The firm has a market capitalization of $3.87 billion, a P/E ratio of -74.90 and a beta of 0.98.

Workiva (NYSE:WK - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.07. The business had revenue of $206.28 million for the quarter, compared to analysts' expectations of $204.24 million. During the same quarter last year, the company earned $0.22 earnings per share. The firm's revenue for the quarter was up 17.4% on a year-over-year basis. Research analysts predict that Workiva Inc. will post -0.92 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Jill Klindt sold 5,593 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.04, for a total value of $475,628.72. Following the completion of the sale, the chief financial officer now directly owns 119,054 shares of the company's stock, valued at approximately $10,124,352.16. This represents a 4.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brandon Ziegler sold 4,115 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.72, for a total transaction of $352,737.80. Following the completion of the sale, the chief accounting officer now owns 103,509 shares of the company's stock, valued at approximately $8,872,791.48. This trade represents a 3.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,129 shares of company stock worth $1,807,333 in the last quarter. 3.86% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on WK shares. BNP Paribas initiated coverage on Workiva in a report on Tuesday, April 22nd. They set an "outperform" rating and a $100.00 target price for the company. Raymond James lowered their price target on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating on the stock in a report on Friday. Stephens assumed coverage on shares of Workiva in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $111.00 target price for the company. 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. Finally, BMO Capital Markets decreased 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. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $107.90.

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.