Park Avenue Securities LLC Sells 757 Shares of Workiva Inc. (NYSE:WK)

Park Avenue Securities LLC lessened its position in Workiva Inc. (NYSE:WK) by 14.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,363 shares of the software maker’s stock after selling 757 shares during the period. Park Avenue Securities LLC’s holdings in Workiva were worth $345,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of WK. Quarry LP increased its stake in Workiva by 57.8% in the second quarter. Quarry LP now owns 453 shares of the software maker’s stock valued at $33,000 after purchasing an additional 166 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of Workiva during the first quarter worth $40,000. Fidelis Capital Partners LLC bought a new stake in shares of Workiva during the first quarter worth $45,000. Point72 Hong Kong Ltd bought a new stake in shares of Workiva during the second quarter worth $62,000. Finally, RiverPark Advisors LLC increased its position in shares of Workiva by 361.5% during the first quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock worth $97,000 after acquiring an additional 893 shares in the last quarter. Institutional investors own 92.21% of the company’s stock.

Workiva Price Performance

Shares of WK stock opened at $79.09 on Friday. The stock has a market cap of $4.37 billion, a P/E ratio of -47.93 and a beta of 1.05. The company has a fifty day moving average price of $76.71 and a two-hundred day moving average price of $77.05. Workiva Inc. has a one year low of $65.47 and a one year high of $105.00.

Workiva (NYSE:WK) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The business had revenue of $177.50 million for the quarter, compared to analysts’ expectations of $175.22 million. Workiva’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.36) EPS. As a group, equities research analysts anticipate that Workiva Inc. will post -0.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of Workiva from $103.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Robert W. Baird lowered their price objective on shares of Workiva from $105.00 to $94.00 and set an “outperform” rating for the company in a research report on Thursday, June 27th. Northland Securities lowered their price objective on shares of Workiva from $106.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, StockNews.com downgraded shares of Workiva from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Insider Buying and Selling at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.60, for a total value of $205,970.60. Following the completion of the sale, the executive vice president now owns 49,887 shares in the company, valued at $3,721,570.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.86% of the company’s stock.

About Workiva

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.