Workiva Inc. (NYSE:WK) Position Reduced by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its position in Workiva Inc. (NYSE:WK) by 16.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 172,202 shares of the software maker’s stock after selling 33,049 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Workiva were worth $18,856,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in WK. Norges Bank acquired a new stake in Workiva during the 4th quarter worth about $59,676,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Workiva in the fourth quarter worth approximately $51,353,000. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Workiva by 10.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,148,021 shares of the software maker’s stock worth $235,209,000 after purchasing an additional 200,220 shares during the period. Engle Capital Management L.P. purchased a new position in Workiva during the fourth quarter valued at approximately $20,367,000. Finally, LMR Partners LLP acquired a new position in Workiva in the 4th quarter valued at approximately $16,151,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Workiva Stock Performance

Shares of NYSE WK opened at $72.03 on Thursday. The business’s 50-day simple moving average is $74.46 and its 200-day simple moving average is $90.02. Workiva Inc. has a 52 week low of $60.50 and a 52 week high of $116.83. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of -78.29 and a beta of 0.98.

Workiva (NYSE:WK) last announced its quarterly 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 company had revenue of $206.28 million for the quarter, compared to analyst estimates of $204.24 million. During the same quarter last year, the business earned $0.22 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, equities research analysts forecast that Workiva Inc. will post -0.92 earnings per share for the current year.

Insider Activity at Workiva

In other Workiva news, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $88.70, for a total value of $88,700.00. Following the transaction, the director now directly owns 34,084 shares of the company’s stock, valued at $3,023,250.80. The trade was a 2.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Brandon Ziegler sold 4,115 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $85.72, for a total value of $352,737.80. Following the transaction, the chief accounting officer now owns 103,509 shares of the company’s stock, valued at approximately $8,872,791.48. This trade represents a 3.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,129 shares of company stock worth $1,807,333. 3.86% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on WK. The Goldman Sachs Group decreased their target price on shares of Workiva from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Citigroup lifted their price objective on Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. BNP Paribas began coverage on Workiva in a research report on Tuesday, April 22nd. They issued an “outperform” rating and a $100.00 target price on the stock. BMO Capital Markets reduced 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. Finally, Stifel Nicolaus dropped their price objective on Workiva from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $107.90.

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.