Workiva Inc. (WK) Shares Sold by Citadel Advisors LLC
Citadel Advisors LLC trimmed its stake in Workiva Inc. (NYSE:WK) by 47.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,029 shares of the software maker’s stock after selling 23,864 shares during the quarter. Citadel Advisors LLC owned 0.06% of Workiva worth $543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Old Mutual Global Investors UK Ltd. bought a new position in Workiva during the third quarter valued at approximately $106,000. ETF Managers Group LLC bought a new position in Workiva during the second quarter valued at approximately $118,000. Legal & General Group Plc raised its position in Workiva by 9.3% during the second quarter. Legal & General Group Plc now owns 6,999 shares of the software maker’s stock valued at $134,000 after acquiring an additional 597 shares in the last quarter. Bank of Montreal Can bought a new position in Workiva during the second quarter valued at approximately $162,000. Finally, Voya Investment Management LLC bought a new position in Workiva during the second quarter valued at approximately $192,000. 35.19% of the stock is owned by institutional investors and hedge funds.
In other Workiva news, major shareholder Jerome M. Behar sold 3,798 shares of the stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $20.25, for a total transaction of $76,909.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Jerome M. Behar sold 5,885 shares of the stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $20.20, for a total value of $118,877.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 106,154 shares of company stock worth $2,256,241. Corporate insiders own 33.29% of the company’s stock.
Shares of Workiva Inc. (WK) traded up $0.05 during mid-day trading on Tuesday, reaching $21.30. The company’s stock had a trading volume of 150,800 shares, compared to its average volume of 142,537. Workiva Inc. has a one year low of $12.15 and a one year high of $23.70. The company has a debt-to-equity ratio of -1.29, a quick ratio of 0.90 and a current ratio of 0.90.
Workiva (NYSE:WK) last announced its quarterly earnings results on Tuesday, November 7th. The software maker reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.17. Workiva had a negative return on equity of 13,251.94% and a negative net margin of 18.83%. The company had revenue of $52.10 million for the quarter, compared to the consensus estimate of $50.64 million. During the same quarter last year, the company posted ($0.23) earnings per share. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. sell-side analysts anticipate that Workiva Inc. will post -1.1 earnings per share for the current fiscal year.
WK has been the topic of several recent research reports. Stifel Nicolaus raised their price objective on shares of Workiva from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, August 18th. Northland Securities set a $23.00 price objective on shares of Workiva and gave the company a “buy” rating in a research report on Sunday, September 10th. SunTrust Banks reaffirmed a “buy” rating and set a $24.00 price objective (up previously from $22.00) on shares of Workiva in a research report on Wednesday, September 20th. Robert W. Baird raised their price objective on shares of Workiva from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, September 21st. Finally, Zacks Investment Research raised shares of Workiva from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. Workiva presently has a consensus rating of “Hold” and a consensus price target of $22.14.
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Workiva Inc provides enterprises with cloud solutions for improving productivity, accountability and insight into business data. The Company created Wdesk, a collaborative work management platform for organizations to collect, link, report and analyze their business data. Wdesk’s word processing, spreadsheet and presentation applications are integrated and built upon a data management engine, offering synchronized data, controlled collaboration, granular permissions and a full audit trail.
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