D. E. Shaw & Co. Inc. Reduces Position in Workiva Inc. (NYSE:WK)

D. E. Shaw & Co. Inc. cut its stake in Workiva Inc. (NYSE:WK - Free Report) by 86.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,511 shares of the software maker's stock after selling 102,562 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in Workiva were worth $1,698,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of WK. Balyasny Asset Management L.P. raised its holdings in shares of Workiva by 11.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 188,418 shares of the software maker's stock valued at $20,632,000 after purchasing an additional 18,610 shares during the last quarter. Aristeia Capital L.L.C. bought a new stake in Workiva in the 4th quarter worth about $8,957,000. Aequim Alternative Investments LP bought a new stake in Workiva in the 4th quarter worth about $2,431,000. Untitled Investments LP purchased a new stake in Workiva in the 4th quarter valued at about $7,648,000. Finally, Northern Trust Corp lifted its position in shares of Workiva by 6.9% during the 4th quarter. Northern Trust Corp now owns 596,466 shares of the software maker's stock worth $65,313,000 after buying an additional 38,633 shares in the last quarter. Institutional investors own 92.21% of the company's stock.

Insider Buying and Selling at Workiva

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 transaction of $890,266.03. Following the sale, the executive vice president now owns 61,298 shares in the company, valued at $5,236,688.14. This trade represents a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $88.70, for a total value of $88,700.00. Following the sale, the director now directly owns 34,084 shares of the company's stock, valued at approximately $3,023,250.80. This trade represents a 2.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,129 shares of company stock valued at $1,807,333 in the last quarter. 4.05% of the stock is currently owned by corporate insiders.

Workiva Stock Performance

Workiva stock traded down $0.05 during mid-day trading on Tuesday, reaching $67.11. The company's stock had a trading volume of 361,657 shares, compared to its average volume of 528,409. The firm's fifty day moving average price is $71.22 and its two-hundred day moving average price is $89.16. Workiva Inc. has a 12-month low of $60.50 and a 12-month high of $116.83. The company has a market capitalization of $3.74 billion, a P/E ratio of -72.95 and a beta of 0.98.

Workiva (NYSE:WK - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The software maker reported $0.14 EPS for the quarter, topping analysts' consensus estimates 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 business earned $0.22 earnings per share. Workiva's revenue was up 17.4% on a year-over-year basis. On average, research analysts predict that Workiva Inc. will post -0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on WK shares. BMO Capital Markets decreased their price target on Workiva from $120.00 to $108.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Stephens reaffirmed an "overweight" rating and set a $95.00 target price on shares of Workiva in a research report on Thursday, May 22nd. Truist Financial lowered their target price on Workiva from $120.00 to $95.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. The Goldman Sachs Group reduced their price target on shares of Workiva from $118.00 to $105.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Finally, Stifel Nicolaus decreased their price objective on shares of Workiva from $120.00 to $100.00 and set a "buy" rating for the company in a report on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Workiva currently has an average rating of "Moderate Buy" and a consensus price target of $106.30.

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.