Untitled Investments LP Invests $7.65 Million in Workiva Inc. (NYSE:WK)

Untitled Investments LP bought a new position in Workiva Inc. (NYSE:WK) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 69,841 shares of the software maker’s stock, valued at approximately $7,648,000. Workiva comprises 1.9% of Untitled Investments LP’s portfolio, making the stock its 15th largest holding. Untitled Investments LP owned about 0.13% of Workiva at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in WK. Sanctuary Advisors LLC purchased a new position in Workiva during the 3rd quarter worth $168,000. World Investment Advisors LLC purchased a new position in Workiva during the third quarter worth about $396,000. Nordea Investment Management AB purchased a new position in Workiva during the fourth quarter worth about $59,894,000. Harbor Capital Advisors Inc. grew its position in Workiva by 6.3% in the 4th quarter. Harbor Capital Advisors Inc. now owns 9,060 shares of the software maker’s stock worth $992,000 after purchasing an additional 537 shares in the last quarter. Finally, Heartwood Wealth Advisors LLC purchased a new stake in Workiva in the 4th quarter valued at about $219,000. Institutional investors own 92.21% of the company’s stock.

Insider Buying and Selling

In other news, CFO Jill Klindt sold 5,593 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $85.04, for a total transaction of $475,628.72. Following the sale, the chief financial officer now directly owns 119,054 shares in the company, valued at $10,124,352.16. This represents a 4.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Michael D. Hawkins sold 10,421 shares of the firm’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 transaction, the executive vice president now owns 61,298 shares of the company’s stock, valued at $5,236,688.14. This trade represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,129 shares of company stock valued at $1,807,333. Company insiders own 3.86% of the company’s stock.

Workiva Stock Down 0.3 %

Shares of NYSE:WK opened at $73.39 on Tuesday. The company has a 50-day moving average price of $78.37 and a two-hundred day moving average price of $90.99. Workiva Inc. has a twelve month low of $60.50 and a twelve month high of $116.83. The firm has a market capitalization of $4.12 billion, a PE ratio of -79.77 and a beta of 1.02.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on WK shares. Citigroup boosted their target price on Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. The Goldman Sachs Group reduced their price objective on Workiva from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Truist Financial lowered their target price on Workiva from $120.00 to $95.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Stifel Nicolaus cut their price target on shares of Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Stephens began coverage on shares of Workiva in a report on Wednesday, March 19th. They set an “overweight” rating and a $111.00 price objective for the company. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.90.

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.