Workiva (NYSE:WK) Reaches New 12-Month Low – Should You Sell?

Workiva Inc. (NYSE:WK) hit a new 52-week low during trading on Friday . The stock traded as low as $64.30 and last traded at $64.61, with a volume of 111263 shares traded. The stock had previously closed at $69.25.

Analysts Set New Price Targets

WK has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price target on shares of Workiva from $130.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. The Goldman Sachs Group dropped their target price on shares of Workiva from $132.00 to $118.00 and set a “buy” rating for the company in a report on Friday, March 28th. Stephens began coverage on Workiva in a research note on Wednesday, March 19th. They set an “overweight” rating and a $111.00 price target on the stock. Citigroup upped their price target on Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Finally, Robert W. Baird lifted their price objective on Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $118.38.

Workiva Stock Performance

The business has a fifty day simple moving average of $88.44 and a 200 day simple moving average of $92.27. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of -73.34 and a beta of 1.02.

Insider Activity at Workiva

In other news, Director Robert H. Herz sold 1,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the sale, the director now owns 34,084 shares in the company, valued at $3,023,250.80. This trade represents a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael D. Hawkins sold 10,421 shares of the company’s stock in a transaction 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 owns 61,298 shares of the company’s stock, valued at $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 have sold a total of 21,129 shares of company stock valued at $1,807,333 over the last quarter. Insiders own 3.86% of the company’s stock.

Institutional Trading of Workiva

Hedge funds have recently added to or reduced their stakes in the business. Twin Tree Management LP purchased a new position in shares of Workiva during the 4th quarter worth about $25,000. Global Wealth Strategies & Associates acquired a new position in Workiva during the first quarter worth approximately $53,000. Johnson Financial Group Inc. purchased a new position in Workiva during the fourth quarter worth approximately $66,000. GeoWealth Management LLC boosted its holdings in shares of Workiva by 3,010.0% in the 4th quarter. GeoWealth Management LLC now owns 622 shares of the software maker’s stock valued at $68,000 after purchasing an additional 602 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Workiva by 14,650.0% during 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. 92.21% of the stock is owned by institutional investors and hedge funds.

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.