Balyasny Asset Management L.P. Buys 18,610 Shares of Workiva Inc. (NYSE:WK)

Balyasny Asset Management L.P. boosted its stake in shares of Workiva Inc. (NYSE:WK - Free Report) by 11.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 188,418 shares of the software maker's stock after buying an additional 18,610 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.34% of Workiva worth $20,632,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WK. Twin Tree Management LP purchased a new position in Workiva in the fourth quarter valued at approximately $25,000. Johnson Financial Group Inc. purchased a new stake in shares of Workiva during the fourth quarter worth about $66,000. GeoWealth Management LLC boosted its position in Workiva by 3,010.0% during the 4th quarter. GeoWealth Management LLC now owns 622 shares of the software maker's stock valued at $68,000 after acquiring an additional 602 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Workiva by 14,650.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker's stock worth $97,000 after purchasing an additional 879 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Workiva by 8.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker's stock worth $159,000 after purchasing an additional 116 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Workiva Price Performance

WK stock traded up $3.44 during midday trading on Monday, hitting $71.01. The stock had a trading volume of 484,144 shares, compared to its average volume of 518,858. The firm has a market cap of $3.99 billion, a PE ratio of -77.25 and a beta of 0.98. The company's 50-day moving average price is $75.41 and its 200 day moving average price is $90.32. Workiva Inc. has a 12-month low of $60.50 and a 12-month high of $116.83.

Workiva (NYSE:WK - Get Free Report) last released its earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.07. The company had revenue of $206.28 million during the quarter, compared to the consensus estimate of $204.24 million. During the same period in the previous year, the firm posted $0.22 EPS. Workiva's revenue for the quarter was up 17.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Workiva Inc. will post -0.92 EPS for the current year.

Analyst Upgrades and Downgrades

WK has been the subject of a number of recent analyst reports. The Goldman Sachs Group decreased their price objective on shares of Workiva from $118.00 to $105.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Citigroup boosted their price objective on shares of Workiva from $128.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Stephens assumed coverage on Workiva in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $111.00 price objective for the company. Stifel Nicolaus reduced their price objective on Workiva from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Finally, Raymond James dropped their target price on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Workiva presently has an average rating of "Moderate Buy" and a consensus target price of $107.90.

Insider Buying and Selling

In related news, CFO Jill Klindt sold 5,593 shares of Workiva stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.04, for a total transaction of $475,628.72. Following the completion of the transaction, the chief financial officer now directly owns 119,054 shares of the company's stock, valued at $10,124,352.16. This trade represents a 4.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael D. Hawkins sold 10,421 shares of the business's stock in a transaction dated 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 owns 61,298 shares in the company, valued at approximately $5,236,688.14. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,129 shares of company stock worth $1,807,333 in the last quarter. 3.86% of the stock is currently owned by company insiders.

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.