ProShare Advisors LLC Has $1.60 Million Stock Holdings in Workiva Inc. (NYSE:WK)

ProShare Advisors LLC reduced its stake in shares of Workiva Inc. (NYSE:WK - Free Report) by 26.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,584 shares of the software maker's stock after selling 5,254 shares during the period. ProShare Advisors LLC's holdings in Workiva were worth $1,597,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of WK. Vanguard Group Inc. raised its holdings in shares of Workiva by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 5,800,074 shares of the software maker's stock valued at $635,108,000 after purchasing an additional 70,820 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Workiva by 10.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,148,021 shares of the software maker's stock worth $235,209,000 after acquiring an additional 200,220 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of Workiva by 13.7% during the 4th quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker's stock valued at $127,570,000 after acquiring an additional 140,310 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Workiva by 3.0% in the 4th quarter. First Trust Advisors LP now owns 824,219 shares of the software maker's stock valued at $90,252,000 after acquiring an additional 24,172 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in shares of Workiva by 11.8% in the 4th quarter. Loomis Sayles & Co. L P now owns 814,582 shares of the software maker's stock valued at $89,197,000 after acquiring an additional 86,207 shares in the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.

Workiva Price Performance

Shares of WK traded down $0.44 on Friday, reaching $67.08. 444,818 shares of the stock traded hands, compared to its average volume of 529,079. The stock's 50-day moving average price is $72.09 and its 200-day moving average price is $89.52. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of -72.91 and a beta of 0.98. Workiva Inc. has a 12 month low of $60.50 and a 12 month high of $116.83.

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

Wall Street Analyst Weigh In

WK has been the subject of a number of recent analyst reports. The Goldman Sachs Group decreased their target price on Workiva from $118.00 to $105.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Stifel Nicolaus lowered their target price on shares of Workiva from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Citigroup boosted their target price on shares of Workiva from $128.00 to $130.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Raymond James decreased their price target on shares of Workiva from $125.00 to $105.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, BMO Capital Markets dropped their price objective on Workiva from $120.00 to $108.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $106.30.

Insider Transactions at Workiva

In other news, CAO Brandon Ziegler sold 4,115 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $85.72, for a total value of $352,737.80. Following the transaction, the chief accounting officer now directly owns 103,509 shares in the company, valued at $8,872,791.48. This trade represents a 3.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael D. Hawkins sold 10,421 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.43, for a total transaction of $890,266.03. Following the completion of the sale, the executive vice president now owns 61,298 shares in the company, valued at $5,236,688.14. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,129 shares of company stock worth $1,807,333. Insiders own 4.05% of the company's stock.

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.