Workday, Inc. (NASDAQ:WDAY) founder David A. Duffield has recently sold a significant portion of his holdings in the company, according to the latest SEC filings. The transactions, carried out between March 15 and March 18, show that Duffield sold a total of 56,375 shares of Class A Common Stock, netting over $32 million.
The sales occurred at weighted average prices ranging from $267.242 to $273.196. On March 15, Duffield sold 4,200 shares at an average price of $267.242, followed by 26,938 shares at $268.3339, 25,374 shares at $269.2405, and 7,817 shares at $270.2101. Subsequent sales on March 18 included 2,312 shares at $269.6979, 6,286 shares at $270.7632, 15,543 shares at $271.6841, 32,609 shares at $272.5734, and a smaller batch of 250 shares at $273.196.
The transactions were executed in accordance with a pre-established Rule 10b5-1 trading plan, which allows company insiders to sell stocks at predetermined times to avoid potential accusations of insider trading.
David A. Duffield, who is also a trustee and sole beneficiary of the David A. Duffield Trust, holds his shares through the trust, which was part of the selling entity. Additionally, a portion of the shares sold were owned indirectly by the Dave and Cheryl Duffield Foundation.
Investors following Workday's insider activity will note that these sales represent a sizable divestment by one of the company's key figures. However, Duffield still retains a substantial interest in the company, with over 10 million shares remaining after these transactions.
Workday, Inc., headquartered in Pleasanton, California, is a leading provider of enterprise cloud applications for finance and human resources.
InvestingPro Insights
As investors digest the news of Workday, Inc. (NASDAQ:WDAY) founder David A. Duffield's recent stock sales, it's essential to consider the company's financial health and market performance to understand the broader picture. According to InvestingPro, Workday holds more cash than debt on its balance sheet, suggesting a strong financial position. This is an important metric for investors, indicating the company's ability to fund operations and growth initiatives without relying heavily on external financing.
Moreover, Workday appears to be a stock that analysts are watching closely, with 26 analysts revising their earnings upwards for the upcoming period. This consensus could signal confidence in the company's future performance, potentially affecting investor sentiment. Additionally, Workday's stock is trading at a low P/E ratio relative to near-term earnings growth, which may attract investors looking for growth at a reasonable price.
Looking at the real-time metrics from InvestingPro, Workday's Market Cap stands at a robust 72.14B USD, reflecting its significant presence in the market. The P/E Ratio is currently at 51.52, and the company has shown a solid Revenue Growth of 16.78% over the last twelve months as of Q4 2024. These figures underscore Workday's growth trajectory and its valuation in the eyes of investors.
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