21,002 Shares in Workiva Inc. (NYSE:WK) Purchased by G2 Investment Partners Management LLC

G2 Investment Partners Management LLC purchased a new position in Workiva Inc. (NYSE:WK - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 21,002 shares of the software maker's stock, valued at approximately $2,300,000.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position 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 acquiring an additional 70,820 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Workiva by 10.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,148,021 shares of the software maker's stock valued at $235,209,000 after purchasing an additional 200,220 shares during the period. Conestoga Capital Advisors LLC increased its position in Workiva by 13.7% in the fourth quarter. Conestoga Capital Advisors LLC now owns 1,165,019 shares of the software maker's stock worth $127,570,000 after buying an additional 140,310 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Workiva by 3.0% in the fourth quarter. First Trust Advisors LP now owns 824,219 shares of the software maker's stock worth $90,252,000 after buying an additional 24,172 shares during the period. Finally, Loomis Sayles & Co. L P lifted its position in shares of Workiva by 11.8% during 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 buying an additional 86,207 shares in the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

Workiva Price Performance

Shares of Workiva stock traded down $0.09 during trading on Wednesday, reaching $71.93. 195,563 shares of the stock traded hands, compared to its average volume of 521,523. Workiva Inc. has a 52-week low of $60.50 and a 52-week high of $116.83. The business has a fifty day simple moving average of $74.74 and a two-hundred day simple moving average of $90.14. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of -78.18 and a beta of 0.98.

Workiva (NYSE:WK - Get Free Report) last released its quarterly 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 firm had revenue of $206.28 million for the quarter, compared to analysts' expectations of $204.24 million. The business's quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 EPS. On average, research analysts predict that Workiva Inc. will post -0.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on WK shares. Stifel Nicolaus decreased 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. Truist Financial decreased their price objective on shares of Workiva from $120.00 to $95.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Raymond James dropped their target price 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. Stephens began coverage on Workiva in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $111.00 price target for the company. Finally, Citigroup boosted their price objective on Workiva from $128.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $107.90.

Insider Buying and Selling

In other Workiva news, CAO Brandon Ziegler sold 4,115 shares of the company's stock in a transaction that occurred on 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 directly owns 103,509 shares in the company, valued at $8,872,791.48. This represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Jill Klindt sold 5,593 shares of Workiva stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.04, for a total value of $475,628.72. Following the completion of the transaction, the chief financial officer now owns 119,054 shares of the company's stock, valued at approximately $10,124,352.16. This trade represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,129 shares of company stock worth $1,807,333. Insiders own 3.86% 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.