Assenagon Asset Management S.A. Sells 33,438 Shares of Workiva Inc. $WK

Key Points

• Assenagon Asset Management S.A. reduced its stake in Workiva Inc. by 18.4%, selling 33,438 shares and holding a total of 148,460 shares worth approximately $10.16 million.
• Several other institutional investors made significant adjustments to their positions in Workiva, with notable increases in holdings from Farther Finance Advisors LLC and Bessemer Group Inc..
• Analyst ratings for Workiva have generally been positive, with a consensus price target of $100.00 and multiple analysts issuing "buy" or "outperform" ratings.

Assenagon Asset Management S.A. trimmed its position in Workiva Inc. (NYSE:WK - Free Report) by 18.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 148,460 shares of the software maker's stock after selling 33,438 shares during the period. Assenagon Asset Management S.A. owned about 0.27% of Workiva worth $10,162,000 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 the stock. SVB Wealth LLC purchased a new stake in Workiva during the first quarter worth about $26,000. Farther Finance Advisors LLC increased its holdings in Workiva by 705.9% in the 1st quarter. Farther Finance Advisors LLC now owns 411 shares of the software maker's stock worth $31,000 after acquiring an additional 360 shares during the last quarter. Harbour Investments Inc. bought a new stake in Workiva in the 1st quarter valued at about $39,000. Bayforest Capital Ltd bought a new stake in Workiva during the 1st quarter valued at $39,000. Finally, Bessemer Group Inc. lifted its holdings in Workiva by 109.2% during the 1st quarter. Bessemer Group Inc. now owns 567 shares of the software maker's stock worth $43,000 after purchasing an additional 296 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on WK shares. Stifel Nicolaus upped their target price on Workiva from $85.00 to $92.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Raymond James Financial decreased their price objective on shares of Workiva from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, August 1st. Wolfe Research raised their target price on shares of Workiva from $85.00 to $95.00 and gave the company an "outperform" rating in a research note on Wednesday, September 10th. Robert W. Baird set a $105.00 price target on shares of Workiva in a research note on Wednesday, June 25th. Finally, Citigroup increased their price target on shares of Workiva from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, September 11th. Ten analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $100.00.

Workiva Trading Up 0.7%

Shares of NYSE WK opened at $83.35 on Wednesday. The firm has a fifty day simple moving average of $75.57 and a two-hundred day simple moving average of $72.88. The firm has a market capitalization of $4.67 billion, a PE ratio of -69.46 and a beta of 0.88. 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 announced its earnings results on Thursday, July 31st. The software maker reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.14. The firm had revenue of $215.19 million during the quarter, compared to the consensus estimate of $208.92 million. The firm's revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 EPS. Workiva has set its FY 2025 guidance at 1.310-1.380 EPS. Q3 2025 guidance at 0.370-0.410 EPS. On average, sell-side analysts predict that Workiva Inc. will post -0.92 earnings per share for the current year.

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.

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