Wealthfront Advisers LLC Takes Position in Workiva Inc. (NYSE:WK)

Wealthfront Advisers LLC purchased a new stake in shares of Workiva Inc. (NYSE:WK) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 71,015 shares of the software maker’s stock, valued at approximately $7,776,000.

Several other institutional investors and hedge funds have also modified their holdings of WK. Nisa Investment Advisors LLC lifted its stake in shares of Workiva by 8.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock valued at $159,000 after purchasing an additional 116 shares during the last quarter. Truist Financial Corp acquired a new stake in shares of Workiva in the 4th quarter valued at $211,000. Heartwood Wealth Advisors LLC acquired a new stake in shares of Workiva in the 4th quarter valued at $219,000. Abacus Planning Group Inc. acquired a new stake in shares of Workiva in the 4th quarter valued at $222,000. Finally, Legato Capital Management LLC acquired a new stake in shares of Workiva in the 4th quarter valued at $226,000. 92.21% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Citigroup lifted their price objective on shares of Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group lifted their price objective on shares of Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Stifel Nicolaus cut their target price on shares of Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, BMO Capital Markets cut their target price on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Workiva presently has an average rating of “Moderate Buy” and a consensus target price of $121.57.

Insider Activity

In other news, CAO Brandon Ziegler sold 4,115 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.72, for a total transaction of $352,737.80. Following the completion of the transaction, the chief accounting officer now owns 103,509 shares of the company’s stock, valued at approximately $8,872,791.48. This represents a 3.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jill Klindt sold 5,593 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $85.04, for a total transaction of $475,628.72. Following the transaction, the chief financial officer now directly owns 119,054 shares of the company’s stock, valued at $10,124,352.16. This represents a 4.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,129 shares of company stock valued at $1,718,633. Insiders own 3.86% of the company’s stock.

Workiva Stock Performance

Shares of WK opened at $86.87 on Thursday. The company has a 50-day simple moving average of $97.90 and a 200-day simple moving average of $91.51. The firm has a market capitalization of $4.81 billion, a P/E ratio of -94.42 and a beta of 1.09. Workiva Inc. has a 52 week low of $65.47 and a 52 week high of $116.83.

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.