Aigen Investment Management LP Lowers Holdings in Workiva Inc. (NYSE:WK)

Aigen Investment Management LP decreased its holdings in shares of Workiva Inc. (NYSE:WK) by 69.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,320 shares of the software maker’s stock after selling 10,003 shares during the quarter. Aigen Investment Management LP’s holdings in Workiva were worth $473,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased 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 worth $159,000 after purchasing an additional 116 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Workiva during the third quarter worth about $168,000. Quantinno Capital Management LP acquired a new stake in shares of Workiva during the third quarter valued at about $207,000. Truist Financial Corp purchased a new stake in shares of Workiva in the 4th quarter valued at approximately $211,000. Finally, Heartwood Wealth Advisors LLC acquired a new position in shares of Workiva in the 4th quarter worth approximately $219,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.

Workiva Price Performance

Shares of NYSE WK opened at $85.89 on Friday. The company has a market cap of $4.76 billion, a price-to-earnings ratio of -93.36 and a beta of 1.09. The stock’s 50-day moving average is $99.39 and its two-hundred day moving average is $91.20. Workiva Inc. has a 1-year low of $65.47 and a 1-year high of $116.83.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Citigroup lifted their target price on shares of Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. The Goldman Sachs Group lifted their price objective on Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Raymond James raised Workiva from a “market perform” rating to an “outperform” rating and set a $135.00 target price on the stock in a research note on Friday, January 3rd. BMO Capital Markets lowered their target price on Workiva from $120.00 to $108.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, Robert W. Baird boosted their price target on shares of Workiva from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $121.57.

Insider Transactions at Workiva

In related news, CAO Brandon Ziegler sold 4,115 shares of the business’s 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 approximately $8,872,791.48. The trade was a 3.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Jill Klindt sold 5,593 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $85.04, for a total value of $475,628.72. Following the completion of the transaction, the chief financial officer now directly owns 119,054 shares in the company, valued at $10,124,352.16. This trade represents a 4.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,129 shares of company stock valued at $1,718,633. 3.86% of the stock is currently owned by corporate insiders.

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.