Point72 Asia Singapore Pte. Ltd. Decreases Position in Workiva Inc. (NYSE:WK)

Point72 Asia Singapore Pte. Ltd. lessened its holdings in shares of Workiva Inc. (NYSE:WK) by 67.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 856 shares of the software maker’s stock after selling 1,773 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Workiva were worth $62,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quarry LP lifted its holdings in shares of Workiva by 57.8% during the 2nd quarter. Quarry LP now owns 453 shares of the software maker’s stock valued at $33,000 after purchasing an additional 166 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Workiva during the 1st quarter valued at $40,000. Fidelis Capital Partners LLC purchased a new position in Workiva in the 1st quarter worth $45,000. Point72 Hong Kong Ltd purchased a new position in Workiva in the 2nd quarter worth $62,000. Finally, RiverPark Advisors LLC raised its stake in Workiva by 361.5% in the 1st quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock worth $97,000 after acquiring an additional 893 shares during the last quarter. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Insider Activity

In other news, EVP Michael D. Hawkins sold 2,761 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.60, for a total transaction of $205,970.60. Following the sale, the executive vice president now directly owns 49,887 shares in the company, valued at $3,721,570.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.86% of the company’s stock.

Workiva Stock Performance

Shares of WK opened at $79.73 on Friday. The business’s 50-day moving average is $76.23 and its two-hundred day moving average is $77.26. The company has a market capitalization of $4.37 billion, a P/E ratio of -46.35 and a beta of 1.05. Workiva Inc. has a fifty-two week low of $65.47 and a fifty-two week high of $105.00.

Workiva (NYSE:WK) last announced its quarterly earnings results on Thursday, August 1st. The software maker reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). The business had revenue of $177.50 million during the quarter, compared to the consensus estimate of $175.22 million. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.36) earnings per share. Analysts forecast that Workiva Inc. will post -0.86 EPS for the current year.

Analysts Set New Price Targets

WK has been the subject of a number of research analyst reports. BMO Capital Markets restated an “outperform” rating and issued a $96.00 target price on shares of Workiva in a research note on Tuesday, June 11th. Northland Securities reduced their target price on Workiva from $106.00 to $95.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. StockNews.com lowered Workiva from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Robert W. Baird reduced their target price on Workiva from $105.00 to $94.00 and set an “outperform” rating for the company in a research note on Thursday, June 27th. Finally, Citigroup raised their target price on Workiva from $103.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.00.

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.