Renaissance Technologies LLC Buys 204,100 Shares of WalkMe Ltd. (NASDAQ:WKME)

Renaissance Technologies LLC boosted its holdings in shares of WalkMe Ltd. (NASDAQ:WKME) by 195.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 308,600 shares of the company’s stock after purchasing an additional 204,100 shares during the period. Renaissance Technologies LLC’s holdings in WalkMe were worth $4,311,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pentwater Capital Management LP bought a new position in WalkMe during the second quarter worth about $251,000. ARK Investment Management LLC lifted its stake in WalkMe by 35.5% during the second quarter. ARK Investment Management LLC now owns 271,592 shares of the company’s stock worth $3,794,000 after purchasing an additional 71,094 shares during the period. Tidal Investments LLC acquired a new stake in shares of WalkMe during the first quarter worth approximately $289,000. California State Teachers Retirement System increased its holdings in shares of WalkMe by 9.1% during the first quarter. California State Teachers Retirement System now owns 26,070 shares of the company’s stock worth $224,000 after buying an additional 2,166 shares in the last quarter. Finally, Quadrature Capital Ltd increased its holdings in shares of WalkMe by 14.8% during the first quarter. Quadrature Capital Ltd now owns 68,703 shares of the company’s stock worth $589,000 after buying an additional 8,841 shares in the last quarter. Institutional investors own 70.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reissued a “hold” rating on shares of WalkMe in a report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $12.86.

WalkMe Stock Performance

Shares of NASDAQ WKME opened at $13.95 on Friday. WalkMe Ltd. has a 52-week low of $7.60 and a 52-week high of $14.09. The firm has a 50 day moving average price of $13.89 and a two-hundred day moving average price of $11.56. The stock has a market cap of $1.21 billion, a P/E ratio of -31.70 and a beta of 0.16.

WalkMe (NASDAQ:WKME) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.04. WalkMe had a negative net margin of 16.55% and a negative return on equity of 9.60%. The company had revenue of $69.51 million during the quarter, compared to analysts’ expectations of $69.61 million. WalkMe’s revenue for the quarter was up 5.1% on a year-over-year basis.

About WalkMe

WalkMe Ltd. provides cloud-based digital adaption platform and associated professional services in the United States and internationally. The company's AI-driven digital adoption platform helps companies to effectively navigate change brought by technology, which stack, identifies, and delivers the personalized guidance and automation.