Main Management ETF Advisors LLC Sells 960 Shares of Workiva Inc. (NYSE:WK)

Main Management ETF Advisors LLC cut its stake in shares of Workiva Inc. (NYSE:WK) by 8.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 10,680 shares of the software maker’s stock after selling 960 shares during the quarter. Main Management ETF Advisors LLC’s holdings in Workiva were worth $1,169,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Twin Tree Management LP bought a new stake in Workiva during the fourth quarter valued at approximately $25,000. Johnson Financial Group Inc. bought a new position in Workiva in the fourth quarter worth approximately $66,000. GeoWealth Management LLC boosted its stake in shares of Workiva by 3,010.0% during the 4th quarter. GeoWealth Management LLC now owns 622 shares of the software maker’s stock worth $68,000 after acquiring an additional 602 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Workiva by 14,650.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 885 shares of the software maker’s stock valued at $97,000 after acquiring an additional 879 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of Workiva by 8.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock valued at $159,000 after acquiring an additional 116 shares during the period. 92.21% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on WK. Stifel Nicolaus decreased their target price on Workiva from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Citigroup upped their price target on Workiva from $128.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Stephens started coverage on Workiva in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $111.00 price objective on the stock. BNP Paribas started coverage on Workiva in a research note on Tuesday, April 22nd. They set an “outperform” rating and a $100.00 price objective for the company. Finally, Truist Financial reduced their target price on shares of Workiva from $120.00 to $95.00 and set a “buy” rating for the company in a report on Monday, April 7th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Workiva currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.90.

Workiva Trading Up 1.6%

NYSE:WK opened at $72.00 on Wednesday. The stock has a 50-day moving average price of $74.74 and a 200 day moving average price of $90.14. The stock has a market capitalization of $4.04 billion, a P/E ratio of -78.26 and a beta of 0.98. Workiva Inc. has a 12-month low of $60.50 and a 12-month high of $116.83.

Workiva (NYSE:WK) last announced its quarterly earnings results on Thursday, May 1st. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.07. The company had revenue of $206.28 million during the quarter, compared to the consensus estimate of $204.24 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The business’s revenue was up 17.4% on a year-over-year basis. On average, research analysts predict that Workiva Inc. will post -0.92 earnings per share for the current fiscal year.

Insider Activity at Workiva

In other Workiva news, CAO Brandon Ziegler sold 4,115 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.72, for a total transaction of $352,737.80. Following the completion of the transaction, the chief accounting officer now owns 103,509 shares in the company, valued at $8,872,791.48. This trade represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert H. Herz sold 1,000 shares of Workiva stock in a transaction on Friday, March 14th. The stock was sold at an average price of $88.70, for a total transaction of $88,700.00. Following the completion of the transaction, the director now directly owns 34,084 shares of the company’s stock, valued at $3,023,250.80. The trade was a 2.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,129 shares of company stock valued at $1,807,333. Insiders own 3.86% of the company’s stock.

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.