Workiva Inc. (NYSE:WK) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its position in shares of Workiva Inc. (NYSE:WK) by 1.2% during the 4th quarter, HoldingsChannel reports. The fund owned 217,681 shares of the software maker’s stock after selling 2,603 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Workiva were worth $23,836,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Twin Tree Management LP acquired a new position in shares of Workiva during the 4th quarter valued at about $25,000. EverSource Wealth Advisors LLC raised its holdings in Workiva by 14,650.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker’s stock valued at $97,000 after buying an additional 879 shares during the period. Nisa Investment Advisors LLC raised its holdings in 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 buying an additional 116 shares during the period. Truist Financial Corp purchased a new stake in Workiva in the 4th quarter valued at about $211,000. Finally, Heartwood Wealth Advisors LLC purchased a new stake in Workiva in the 4th quarter valued at about $219,000. Institutional investors and hedge funds own 92.21% of the company’s stock.

Workiva Stock Performance

WK stock opened at $88.21 on Friday. The company’s 50 day moving average price is $94.70 and its 200 day moving average price is $91.76. Workiva Inc. has a fifty-two week low of $65.47 and a fifty-two week high of $116.83. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of -95.88 and a beta of 1.09.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Stifel Nicolaus reduced their price objective 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. Raymond James upgraded shares of Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 price objective on the stock in a report on Friday, January 3rd. The Goldman Sachs Group boosted their price objective on shares of Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. BMO Capital Markets cut their price target on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, Stephens began coverage on shares of Workiva in a research note on Wednesday. They set an “overweight” rating and a $111.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $120.25.

Insider Buying and Selling

In related news, Director Robert H. Herz sold 1,000 shares of the company’s 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 completion of the transaction, the director now directly owns 34,084 shares of the company’s stock, valued at $3,023,250.80. This represents a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael D. Hawkins sold 10,421 shares of the company’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 value of $890,266.03. Following the completion of the transaction, the executive vice president now directly 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. Over the last ninety days, insiders have sold 21,129 shares of company stock worth $1,807,333. Company insiders own 3.86% 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.