ProShare Advisors LLC Decreases Holdings in Workiva Inc. (NYSE:WK)

ProShare Advisors LLC lowered its position in Workiva Inc. (NYSE:WK) by 24.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,251 shares of the software maker’s stock after selling 2,315 shares during the quarter. ProShare Advisors LLC’s holdings in Workiva were worth $529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. EntryPoint Capital LLC bought a new position in shares of Workiva during the first quarter valued at about $40,000. Fidelis Capital Partners LLC bought a new position in Workiva during the 1st quarter worth approximately $45,000. RiverPark Advisors LLC increased its stake in Workiva by 361.5% in the 1st quarter. RiverPark Advisors LLC now owns 1,140 shares of the software maker’s stock worth $97,000 after purchasing an additional 893 shares during the period. Headlands Technologies LLC lifted its position in Workiva by 896.0% in the second quarter. Headlands Technologies LLC now owns 1,753 shares of the software maker’s stock valued at $128,000 after purchasing an additional 1,577 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Workiva by 8.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,347 shares of the software maker’s stock valued at $171,000 after purchasing an additional 179 shares during the period. 92.21% of the stock is currently owned by institutional investors.

Workiva Price Performance

Shares of WK opened at $79.12 on Tuesday. The company has a 50-day simple moving average of $75.87 and a two-hundred day simple moving average of $77.37. The firm has a market capitalization of $4.37 billion, a PE ratio of -46.00 and a beta of 1.05. Workiva Inc. has a one year low of $65.47 and a one year high of $105.00.

Workiva (NYSE:WK) last released its earnings results on Thursday, August 1st. The software maker reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The firm had revenue of $177.50 million during the quarter, compared to the consensus estimate of $175.22 million. During the same period in the previous year, the firm posted ($0.36) EPS. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. Analysts expect that Workiva Inc. will post -0.86 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on WK. Robert W. Baird lowered their price target on shares of Workiva from $105.00 to $94.00 and set an “outperform” rating for the company in a report on Thursday, June 27th. Northland Securities dropped their target price on shares of Workiva from $106.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. BMO Capital Markets restated an “outperform” rating and set a $96.00 price target on shares of Workiva in a report on Tuesday, June 11th. StockNews.com lowered Workiva from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Finally, Citigroup lifted their price objective on Workiva from $103.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

Insider Activity

In related news, EVP Michael D. Hawkins sold 2,761 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.60, for a total value of $205,970.60. Following the completion of the transaction, the executive vice president now directly owns 49,887 shares in the company, valued at approximately $3,721,570.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.86% of the company’s stock.

About Workiva

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.