Scalar Gauge Management LLC Has $7.90 Million Stake in WalkMe Ltd. (NASDAQ:WKME)

Scalar Gauge Management LLC increased its stake in WalkMe Ltd. (NASDAQ:WKME) by 11.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 565,574 shares of the company’s stock after purchasing an additional 59,841 shares during the period. WalkMe makes up approximately 4.6% of Scalar Gauge Management LLC’s portfolio, making the stock its 5th biggest holding. Scalar Gauge Management LLC owned approximately 0.65% of WalkMe worth $7,901,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Slotnik Capital LLC bought a new position in shares of WalkMe during the 2nd quarter valued at about $10,480,000. Glazer Capital LLC purchased a new stake in WalkMe in the second quarter worth approximately $5,514,000. Renaissance Technologies LLC grew its position in WalkMe by 195.3% during the second quarter. Renaissance Technologies LLC now owns 308,600 shares of the company’s stock valued at $4,311,000 after acquiring an additional 204,100 shares during the last quarter. Horrell Capital Management Inc. raised its stake in shares of WalkMe by 231.4% during the first quarter. Horrell Capital Management Inc. now owns 303,459 shares of the company’s stock worth $2,610,000 after acquiring an additional 211,900 shares in the last quarter. Finally, ARK Investment Management LLC lifted its holdings in shares of WalkMe by 35.5% in the 2nd quarter. ARK Investment Management LLC now owns 271,592 shares of the company’s stock worth $3,794,000 after acquiring an additional 71,094 shares during the last quarter. 70.91% of the stock is owned by hedge funds and other institutional investors.

WalkMe Stock Performance

WKME stock opened at $13.95 on Tuesday. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -31.70 and a beta of 0.16. The firm’s 50-day moving average price is $13.88 and its two-hundred day moving average price is $11.43. WalkMe Ltd. has a 12-month low of $7.60 and a 12-month high of $14.09.

WalkMe (NASDAQ:WKME) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. The business had revenue of $69.51 million during the quarter, compared to analyst estimates of $69.61 million. WalkMe had a negative return on equity of 9.60% and a negative net margin of 16.55%. The business’s revenue was up 5.1% compared to the same quarter last year.

Analyst Ratings Changes

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

WalkMe Profile

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.