Thrivent Financial for Lutherans Cuts Stake in Workiva Inc. (NYSE:WK)

Thrivent Financial for Lutherans cut its stake in shares of Workiva Inc. (NYSE:WK) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,681 shares of the software maker’s stock after selling 2,603 shares during the quarter. Thrivent Financial for Lutherans owned about 0.39% of Workiva worth $23,836,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Twin Tree Management LP purchased a new stake in shares of Workiva during the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC grew its holdings in shares of 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 during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Workiva by 8.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,452 shares of the software maker’s stock valued at $159,000 after buying an additional 116 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Workiva during the third quarter valued at $168,000. Finally, Quantinno Capital Management LP purchased a new stake in Workiva in the third quarter valued at $207,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Brandon Ziegler sold 4,115 shares of the company’s stock in a transaction dated 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 represents a 3.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert H. Herz sold 1,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $88.70, for a total transaction of $88,700.00. Following the completion of the sale, the director now owns 34,084 shares of the company’s stock, valued at approximately $3,023,250.80. The trade was a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,129 shares of company stock worth $1,807,333 in the last 90 days. Insiders own 3.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WK shares. Stephens started coverage on shares of Workiva in a report on Wednesday. They issued an “overweight” rating and a $111.00 price target on the stock. The Goldman Sachs Group upped their price target on shares of Workiva from $120.00 to $133.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Stifel Nicolaus lowered their price target on shares of Workiva from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Citigroup upped their price target on shares of Workiva from $128.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Finally, BMO Capital Markets lowered their price target on shares of Workiva from $120.00 to $108.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $120.25.

Workiva Stock Performance

Shares of Workiva stock opened at $88.21 on Friday. Workiva Inc. has a fifty-two week low of $65.47 and a fifty-two week high of $116.83. The firm has a 50-day simple moving average of $94.70 and a two-hundred day simple moving average of $91.76. The company has a market cap of $4.95 billion, a P/E ratio of -95.88 and a beta of 1.09.

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.