Polar Asset Management Partners Inc. Buys Shares of 53,200 Workiva Inc. (NYSE:WK)

Polar Asset Management Partners Inc. bought a new stake in Workiva Inc. (NYSE:WK - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 53,200 shares of the software maker's stock, valued at approximately $5,825,000. Polar Asset Management Partners Inc. owned about 0.10% of Workiva at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in WK. GTS Securities LLC bought a new position in Workiva in the fourth quarter worth $212,000. Castleark Management LLC bought a new position in shares of Workiva in the fourth quarter worth about $6,800,000. Vident Advisory LLC acquired a new position in Workiva during the 4th quarter worth $240,000. Two Sigma Advisers LP boosted its holdings in Workiva by 155.8% in the fourth quarter. Two Sigma Advisers LP now owns 42,200 shares of the software maker's stock valued at $4,621,000 after acquiring an additional 25,700 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in shares of Workiva by 37.8% during the 4th quarter. Two Sigma Investments LP now owns 112,429 shares of the software maker's stock worth $12,311,000 after buying an additional 30,829 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Workiva

In other news, EVP Michael D. Hawkins sold 10,421 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $85.43, for a total value of $890,266.03. Following the completion of the transaction, the executive vice president now directly owns 61,298 shares in the company, valued at approximately $5,236,688.14. This represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jill Klindt sold 5,593 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.04, for a total value of $475,628.72. Following the sale, the chief financial officer now owns 119,054 shares in the company, valued at approximately $10,124,352.16. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,129 shares of company stock valued at $1,807,333. 4.05% of the stock is currently owned by corporate insiders.

Workiva Price Performance

Workiva stock traded up $0.36 during midday trading on Friday, hitting $67.18. The company's stock had a trading volume of 455,992 shares, compared to its average volume of 530,347. Workiva Inc. has a 1-year low of $60.50 and a 1-year high of $116.83. The company has a 50-day moving average price of $70.00 and a two-hundred day moving average price of $88.60. The company has a market cap of $3.74 billion, a price-to-earnings ratio of -73.02 and a beta of 0.98.

Workiva (NYSE:WK - Get Free Report) last issued 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 quarter in the previous year, the business posted $0.22 EPS. The firm's revenue for the quarter was up 17.4% on a year-over-year basis. Sell-side analysts forecast that Workiva Inc. will post -0.92 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Stephens reissued an "overweight" rating and issued a $95.00 target price on shares of Workiva in a research note on Thursday, May 22nd. Stifel Nicolaus cut their target price on Workiva from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. BNP Paribas started coverage on Workiva in a report on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 price objective for the company. The Goldman Sachs Group lowered their target price on shares of Workiva from $118.00 to $105.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Truist Financial dropped their price objective on Workiva from $120.00 to $95.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $106.30.

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.