Swedbank AB Sells 90,800 Shares of Workiva Inc. (NYSE:WK)

Swedbank AB trimmed its position in Workiva Inc. (NYSE:WK) by 47.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,000 shares of the software maker’s stock after selling 90,800 shares during the period. Swedbank AB owned approximately 0.18% of Workiva worth $7,912,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dynasty Wealth Management LLC bought a new stake in Workiva in the 1st quarter valued at approximately $226,000. Motley Fool Asset Management LLC acquired a new position in Workiva during the first quarter worth $289,000. Comerica Bank boosted its holdings in Workiva by 23.8% during the first quarter. Comerica Bank now owns 87,999 shares of the software maker’s stock worth $7,462,000 after purchasing an additional 16,943 shares during the last quarter. iA Global Asset Management Inc. grew its position in Workiva by 12.5% in the first quarter. iA Global Asset Management Inc. now owns 7,159 shares of the software maker’s stock valued at $607,000 after purchasing an additional 794 shares in the last quarter. Finally, Burney Co. acquired a new stake in Workiva in the 1st quarter valued at $3,678,000. 92.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Robert W. Baird raised their price objective on Workiva from $94.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Stifel Nicolaus upped their price objective on Workiva from $85.00 to $102.00 and gave the stock a “hold” rating in a research note on Thursday, November 7th. StockNews.com downgraded Workiva from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Northland Securities decreased 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, BMO Capital Markets boosted their price objective on shares of Workiva from $96.00 to $104.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Workiva presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.20.

Insider Buying and Selling at Workiva

In other Workiva news, EVP Michael D. Hawkins sold 2,761 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.60, for a total value of $205,970.60. Following the transaction, the executive vice president now directly owns 49,887 shares of the company’s stock, valued at $3,721,570.20. This represents a 5.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 3.86% of the company’s stock.

Workiva Stock Performance

NYSE WK opened at $98.73 on Wednesday. The stock has a market cap of $5.47 billion, a PE ratio of -105.70 and a beta of 1.05. The firm has a 50-day moving average of $83.03 and a 200-day moving average of $78.18. Workiva Inc. has a 52-week low of $65.47 and a 52-week high of $105.00.

Workiva 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.