Workiva Inc. (NYSE:WK) Shares Sold by Advantage Alpha Capital Partners LP

Advantage Alpha Capital Partners LP cut its stake in Workiva Inc. (NYSE:WK) by 47.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,570 shares of the software maker’s stock after selling 41,902 shares during the period. Advantage Alpha Capital Partners LP’s holdings in Workiva were worth $4,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Twin Tree Management LP purchased a new stake in Workiva in the 4th quarter valued at $25,000. EverSource Wealth Advisors LLC increased its position in Workiva by 14,650.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker’s stock worth $97,000 after purchasing an additional 879 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Workiva by 8.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock worth $159,000 after purchasing an additional 116 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of Workiva in the 3rd quarter valued at approximately $168,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of Workiva during the 3rd quarter worth approximately $207,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. 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. The Goldman Sachs Group lifted their price target on shares of Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Robert W. Baird upped their price objective on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Stifel Nicolaus lowered their price objective 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, Citigroup boosted their target price on Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.25.

Workiva Price Performance

NYSE WK opened at $87.28 on Monday. The business has a 50 day moving average price of $94.33 and a 200 day moving average price of $92.06. The company has a market capitalization of $4.90 billion, a P/E ratio of -94.87 and a beta of 1.09. Workiva Inc. has a 1-year low of $65.47 and a 1-year high of $116.83.

Insider Transactions at Workiva

In other Workiva news, Director Robert H. Herz sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $88.70, for a total value of $88,700.00. Following the sale, the director now directly owns 34,084 shares of the company’s stock, valued at approximately $3,023,250.80. This trade represents a 2.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael D. Hawkins sold 10,421 shares of the business’s 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 of the company’s stock, valued at approximately $5,236,688.14. The trade was a 14.53 % 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. 3.86% of the stock is currently owned by insiders.

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.