Lakehouse Capital Pty Ltd Purchases 98,750 Shares of Workiva Inc. $WK

Key Points

• Lakehouse Capital nearly doubled its Workiva position in the third quarter, purchasing 98,750 additional shares to own 199,776 shares worth approximately $13.3 million. Institutional investors collectively own 92.21% of Workiva.
• Analyst sentiment is broadly positive: Workiva has a consensus rating of “Moderate Buy” and an average price target of $87, compared with a recent share price of $71.92.
• Workiva exceeded quarterly expectations, reporting adjusted EPS of $0.77 versus a $0.64 consensus estimate and revenue of $255.29 million, up 18.6% year over year.

Lakehouse Capital Pty Ltd raised its position in Workiva Inc. (NYSE:WK - Free Report) by 97.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 199,776 shares of the software maker's stock after buying an additional 98,750 shares during the quarter. Workiva comprises about 10.6% of Lakehouse Capital Pty Ltd's portfolio, making the stock its 3rd largest position. Lakehouse Capital Pty Ltd owned about 0.36% of Workiva worth $13,299,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Squarepoint Ops LLC increased its stake in Workiva by 110.7% in the second quarter. Squarepoint Ops LLC now owns 1,247,400 shares of the software maker's stock valued at $60,511,000 after acquiring an additional 655,396 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Workiva by 88.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,109,646 shares of the software maker's stock valued at $66,168,000 after purchasing an additional 520,839 shares during the last quarter. Hawk Ridge Capital Management LP acquired a new position in shares of Workiva during the 1st quarter worth $65,091,000. First Trust Advisors LP raised its holdings in shares of Workiva by 16.4% during the 1st quarter. First Trust Advisors LP now owns 862,936 shares of the software maker's stock worth $51,457,000 after buying an additional 121,643 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Workiva during the 4th quarter worth $53,375,000. 92.21% of the stock is owned by institutional investors.

Insider Buying and Selling at Workiva

In other news, EVP Brandon Ziegler sold 6,571 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $75.97, for a total value of $499,198.87. Following the completion of the sale, the executive vice president owned 126,216 shares of the company's stock, valued at approximately $9,588,629.52. This represents a 4.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.77% of the company's stock.

Analysts Set New Price Targets

WK has been the topic of a number of recent analyst reports. Zacks Research upgraded Workiva from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. Citigroup reissued a "buy" rating on shares of Workiva in a report on Thursday, August 6th. Robert W. Baird raised their price target on shares of Workiva from $95.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, September 16th. Wall Street Zen raised shares of Workiva from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 26th. Finally, Weiss Ratings upgraded shares of Workiva from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Workiva presently has a consensus rating of "Moderate Buy" and a consensus price target of $87.00.

Workiva Trading Up 1.0%

Workiva stock opened at $71.92 on Tuesday. The stock has a 50-day moving average price of $70.71 and a two-hundred day moving average price of $59.08. Workiva Inc. has a 12 month low of $43.34 and a 12 month high of $97.10. The company has a market capitalization of $4.04 billion, a PE ratio of 87.71 and a beta of 0.53.

Workiva (NYSE:WK - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The software maker reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. Workiva had a negative return on equity of 140.17% and a net margin of 4.87%.The company had revenue of $255.29 million during the quarter, compared to the consensus estimate of $251.16 million. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The firm's revenue was up 18.6% compared to the same quarter last year. Workiva has set its FY 2026 guidance at 3.380-3.390 EPS and its Q3 2026 guidance at 0.790-0.820 EPS. As a group, analysts predict that Workiva Inc. will post 1.31 earnings per share for the current fiscal year.

About Workiva

Workiva Inc is a cloud-based software company that helps organizations manage complex reporting, compliance and operational processes. Its platform connects data from multiple sources, enabling users to prepare, review and distribute financial reports, regulatory filings, management reports and other business documents through a collaborative digital environment.

The company's products support financial reporting, environmental, social and governance (ESG) reporting, risk management, internal controls, audit management and regulatory compliance.

Want to see what other hedge funds are holding WK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Workiva Inc. (NYSE:WK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.