D. E. Shaw & Co. Inc. Sells 102,562 Shares of Workiva Inc. (NYSE:WK)

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

Other institutional investors and hedge funds have also modified their holdings of the company. Twin Tree Management LP bought a new stake in Workiva in the fourth quarter worth $25,000. Johnson Financial Group Inc. bought a new stake in Workiva during the fourth quarter valued at about $66,000. GeoWealth Management LLC boosted its holdings in Workiva by 3,010.0% during the fourth quarter. GeoWealth Management LLC now owns 622 shares of the software maker's stock valued at $68,000 after acquiring an additional 602 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Workiva by 14,650.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker's stock valued at $97,000 after acquiring an additional 879 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in Workiva by 8.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker's stock valued at $159,000 after acquiring an additional 116 shares during the period. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Workiva

In other news, Director Robert H. Herz sold 1,000 shares of the firm's stock in a transaction that occurred 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 sale, the director now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael D. Hawkins sold 10,421 shares of the firm's stock in a transaction that occurred on 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 directly owns 61,298 shares of the company's stock, valued at approximately $5,236,688.14. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,129 shares of company stock valued at $1,807,333. Corporate insiders own 4.05% of the company's stock.

Workiva Trading Up 0.8%

NYSE:WK traded up $0.51 during mid-day trading on Tuesday, hitting $67.67. The company's stock had a trading volume of 23,259 shares, compared to its average volume of 721,478. Workiva Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $116.83. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of -73.55 and a beta of 0.98. The stock has a fifty day moving average of $71.64 and a 200-day moving average of $89.31.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on WK shares. Truist Financial decreased their price target on shares of Workiva from $120.00 to $95.00 and set a "buy" rating for the company in a report on Monday, April 7th. BNP Paribas started coverage on shares of Workiva in a report on Tuesday, April 22nd. They set an "outperform" rating and a $100.00 price target for the company. Stephens restated an "overweight" rating and set a $95.00 price target on shares of Workiva in a report on Thursday, May 22nd. Stifel Nicolaus cut their price objective on shares of Workiva from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Citigroup upped their price objective on shares of Workiva from $128.00 to $130.00 and gave the company a "buy" rating in a research 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $106.30.

About Workiva

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.