Workiva Inc. (NYSE:WK) Shares Sold by Tensile Capital Management LP

Tensile Capital Management LP decreased its position in Workiva Inc. (NYSE:WK - Free Report) by 21.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 238,321 shares of the software maker's stock after selling 66,284 shares during the quarter. Workiva makes up 2.7% of Tensile Capital Management LP's portfolio, making the stock its 14th biggest holding. Tensile Capital Management LP owned 0.43% of Workiva worth $26,096,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WK. Nisa Investment Advisors LLC lifted its stake in Workiva by 8.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker's stock worth $159,000 after purchasing an additional 116 shares during the last quarter. World Investment Advisors lifted its stake in Workiva by 2.7% in the fourth quarter. World Investment Advisors now owns 5,135 shares of the software maker's stock worth $562,000 after purchasing an additional 135 shares during the last quarter. Park Avenue Securities LLC lifted its stake in Workiva by 4.5% in the fourth quarter. Park Avenue Securities LLC now owns 4,561 shares of the software maker's stock worth $499,000 after purchasing an additional 198 shares during the last quarter. Arizona State Retirement System lifted its stake in Workiva by 1.6% in the fourth quarter. Arizona State Retirement System now owns 14,170 shares of the software maker's stock worth $1,552,000 after purchasing an additional 224 shares during the last quarter. Finally, Twin Tree Management LP bought a new stake in Workiva in the fourth quarter worth about $25,000. Institutional investors own 92.21% of the company's stock.

Workiva Stock Down 3.3%

Shares of WK stock traded down $2.31 on Wednesday, hitting $68.60. The company had a trading volume of 466,142 shares, compared to its average volume of 526,626. Workiva Inc. has a twelve month low of $60.50 and a twelve month high of $116.83. The firm has a market cap of $3.85 billion, a P/E ratio of -74.56 and a beta of 0.98. The company has a 50-day moving average price of $72.92 and a 200-day moving average price of $89.71.

Workiva (NYSE:WK - Get Free Report) last posted its earnings results on Thursday, May 1st. The software maker reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.07. The company had revenue of $206.28 million during the quarter, compared to analyst estimates of $204.24 million. The company's quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 EPS. Equities research analysts expect that Workiva Inc. will post -0.92 EPS for the current year.

Wall Street Analyst Weigh In

WK has been the topic of a number of research analyst reports. BNP Paribas initiated coverage on shares of Workiva in a report on Tuesday, April 22nd. They issued an "outperform" rating and a $100.00 price target on the stock. Stephens began coverage on shares of Workiva in a report on Wednesday, March 19th. They set an "overweight" rating and a $111.00 price objective on the stock. Raymond James reduced their price target on Workiva from $125.00 to $105.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. The Goldman Sachs Group lowered their target price on shares of Workiva from $118.00 to $105.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Finally, Truist Financial reduced their target price on Workiva from $120.00 to $95.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.90.

Insider Transactions at Workiva

In other Workiva news, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the transaction, the director now owns 34,084 shares of the company's stock, valued at $3,023,250.80. The trade was a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Brandon Ziegler sold 4,115 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.72, for a total transaction of $352,737.80. Following the sale, the chief accounting officer now owns 103,509 shares of the company's stock, valued at $8,872,791.48. This trade represents a 3.82% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,129 shares of company stock valued at $1,807,333. 3.86% of the stock is currently owned by corporate insiders.

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.