Workiva (NYSE:WK) Stock Price Down 4.8% – Should You Sell?

Workiva Inc. (NYSE:WK)’s stock price was down 4.8% on Wednesday . The company traded as low as $109.61 and last traded at $108.54. Approximately 71,919 shares were traded during trading, a decline of 87% from the average daily volume of 534,211 shares. The stock had previously closed at $114.04.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Citigroup increased their price target on shares of Workiva from $116.00 to $128.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Raymond James upgraded Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price target on the stock in a report on Friday, January 3rd. The Goldman Sachs Group increased their price objective on Workiva from $120.00 to $133.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. BMO Capital Markets boosted their target price on Workiva from $96.00 to $104.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus upgraded shares of Workiva from a “hold” rating to a “buy” rating and lifted their price target for the company from $102.00 to $130.00 in a report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $122.14.

Workiva Stock Performance

The stock has a market cap of $5.49 billion, a P/E ratio of -106.78 and a beta of 1.07. The business’s 50-day moving average price is $104.86 and its 200-day moving average price is $87.08.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of Workiva in the third quarter worth about $28,000. Quarry LP increased its stake in Workiva by 57.8% in the 2nd quarter. Quarry LP now owns 453 shares of the software maker’s stock worth $33,000 after acquiring an additional 166 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Workiva during the 2nd quarter worth approximately $62,000. Nisa Investment Advisors LLC boosted its position in shares of Workiva by 8.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock valued at $159,000 after acquiring an additional 116 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Workiva in the third quarter valued at $168,000. Institutional investors own 92.21% of the company’s stock.

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.