Point72 Asset Management L.P. Purchases New Holdings in Workiva Inc. (NYSE:WK)

Point72 Asset Management L.P. bought a new position in shares of Workiva Inc. (NYSE:WK - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 300,116 shares of the software maker's stock, valued at approximately $32,863,000. Point72 Asset Management L.P. owned 0.54% of Workiva at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC lifted its position in shares of Workiva by 141.6% during the 4th quarter. SG Americas Securities LLC now owns 9,341 shares of the software maker's stock worth $1,023,000 after buying an additional 5,475 shares during the period. Truist Financial Corp bought a new position in shares of Workiva during the 4th quarter worth approximately $211,000. Atria Wealth Solutions Inc. bought a new position in shares of Workiva during the 4th quarter worth approximately $237,000. Teacher Retirement System of Texas lifted its position in shares of Workiva by 29.8% during the 4th quarter. Teacher Retirement System of Texas now owns 7,668 shares of the software maker's stock worth $840,000 after buying an additional 1,761 shares during the period. Finally, Park Avenue Securities LLC lifted its position in shares of Workiva by 4.5% during the 4th quarter. Park Avenue Securities LLC now owns 4,561 shares of the software maker's stock worth $499,000 after buying an additional 198 shares during the period. Institutional investors own 92.21% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. BNP Paribas assumed coverage on Workiva in a research report on Tuesday, April 22nd. They set an "outperform" rating and a $100.00 target price for the company. The Goldman Sachs Group dropped their price target on Workiva from $118.00 to $105.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Stephens started coverage on Workiva in a report on Wednesday, March 19th. They set an "overweight" rating and a $111.00 price target for the company. Citigroup raised their price target on Workiva from $128.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Finally, BMO Capital Markets dropped their price target on Workiva from $120.00 to $108.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $107.90.

Insider Buying and Selling

In related news, CFO Jill Klindt sold 5,593 shares of the business's 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 directly owns 119,054 shares in the company, valued at approximately $10,124,352.16. The trade was a 4.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert H. Herz sold 1,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $88.70, for a total value of $88,700.00. Following the completion of the transaction, the director now owns 34,084 shares of the company's stock, valued at $3,023,250.80. This represents a 2.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,129 shares of company stock valued at $1,807,333 over the last three months. Company insiders own 3.86% of the company's stock.

Workiva Price Performance

Shares of NYSE WK traded up $0.79 during midday trading on Tuesday, hitting $70.88. The stock had a trading volume of 384,615 shares, compared to its average volume of 525,389. The company's 50-day simple moving average is $73.58 and its 200 day simple moving average is $89.98. The firm has a market cap of $3.98 billion, a P/E ratio of -77.04 and a beta of 0.98. Workiva Inc. has a fifty-two week low of $60.50 and a fifty-two week high of $116.83.

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

Workiva 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.