Redwood Investments LLC Has $2.98 Million Stock Position in Workiva Inc. (NYSE:WK)

Redwood Investments LLC decreased its position in Workiva Inc. (NYSE:WK - Free Report) by 83.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,314 shares of the software maker's stock after selling 148,474 shares during the period. Redwood Investments LLC owned about 0.05% of Workiva worth $2,976,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cornerstone Planning Group LLC purchased a new stake in shares of Workiva in the second quarter valued at about $27,000. GHP Investment Advisors Inc. purchased a new stake in Workiva during the fourth quarter worth about $28,000. Belpointe Asset Management LLC boosted its holdings in Workiva by 133.8% during the first quarter. Belpointe Asset Management LLC now owns 346 shares of the software maker's stock worth $35,000 after buying an additional 198 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in Workiva during the third quarter worth about $54,000. Finally, Lazard Asset Management LLC purchased a new stake in Workiva during the first quarter worth about $82,000. Hedge funds and other institutional investors own 92.21% of the company's stock.

Workiva Trading Down 1.4 %

Shares of WK stock traded down $1.20 during trading hours on Monday, hitting $83.60. The company's stock had a trading volume of 245,604 shares, compared to its average volume of 400,392. The business has a fifty day moving average of $88.71 and a 200-day moving average of $94.14. The stock has a market cap of $4.58 billion, a price-to-earnings ratio of -35.27 and a beta of 1.03. Workiva Inc. has a twelve month low of $80.50 and a twelve month high of $116.00.

Workiva (NYSE:WK - Get Free Report) last posted its quarterly earnings results on Tuesday, February 20th. The software maker reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.15) by $0.10. The company had revenue of $166.65 million for the quarter, compared to analysts' expectations of $164.44 million. On average, equities analysts expect that Workiva Inc. will post -0.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other Workiva news, EVP Michael D. Hawkins sold 11,439 shares of the firm's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $93.62, for a total transaction of $1,070,919.18. Following the completion of the transaction, the executive vice president now directly owns 62,453 shares of the company's stock, valued at approximately $5,846,849.86. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. BMO Capital Markets decreased their price objective on shares of Workiva from $123.00 to $113.00 and set an "outperform" rating on the stock in a report on Wednesday, February 21st. Stifel Nicolaus decreased their price objective on shares of Workiva from $92.00 to $85.00 and set a "hold" rating on the stock in a report on Wednesday, February 21st. Finally, Citigroup reduced their price target on shares of Workiva from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $113.50.

About Workiva

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.