KLP Kapitalforvaltning AS Acquires Shares of 10,200 Workiva Inc. (NYSE:WK)

KLP Kapitalforvaltning AS bought a new stake in Workiva Inc. (NYSE:WK) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,200 shares of the software maker’s stock, valued at approximately $1,117,000.

A number of other institutional investors also recently made changes to their positions in the business. Twin Tree Management LP bought a new position in shares of Workiva during the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC raised its stake in Workiva by 14,650.0% during the fourth 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 in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Workiva by 8.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock worth $159,000 after buying an additional 116 shares during the last quarter. Truist Financial Corp acquired a new position in shares of Workiva in the 4th quarter worth approximately $211,000. Finally, Heartwood Wealth Advisors LLC bought a new stake in shares of Workiva in the 4th quarter valued at approximately $219,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WK. BMO Capital Markets reduced their price objective on Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Robert W. Baird boosted their price objective on Workiva from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Stephens started coverage on shares of Workiva in a research report on Wednesday, March 19th. They set an “overweight” rating and a $111.00 price target for the company. Stifel Nicolaus cut their price objective on shares of Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Citigroup upped their target price on shares of Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $118.38.

Insider Activity at Workiva

In related news, Director Robert H. Herz sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $88.70, for a total value of $88,700.00. Following the sale, the director now directly owns 34,084 shares in the company, valued at $3,023,250.80. The trade was a 2.85 % decrease in their position. 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 stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $85.43, for a total transaction of $890,266.03. Following the sale, the executive vice president now directly owns 61,298 shares of the company’s stock, valued at approximately $5,236,688.14. This represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,129 shares of company stock worth $1,807,333 over the last quarter. 3.86% of the stock is currently owned by company insiders.

Workiva Trading Down 3.0 %

WK stock opened at $78.66 on Monday. The firm’s 50-day moving average is $91.56 and its two-hundred day moving average is $92.45. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of -85.50 and a beta of 1.09. Workiva Inc. has a 52 week low of $65.47 and a 52 week high of $116.83.

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.