READYSTATE Dumps 361,000 Workiva Shares Worth $32 Million
Key Points
Sold 361,224 shares of Workiva; estimated transaction value of $31.98 million based on quarterly average pricing.
Quarter-end Workiva position value declined by $31.09 million, reflecting both share sales and price movement.
Workiva trade equaled 1.3% of fund’s reportable U.S. equity assets under management (AUM) for the quarter.
Post-trade, the fund held 10,000 Workiva shares valued at $862,500 (0.03% of AUM), which places it outside the fund’s top five holdings.
The position was previously 1.4% of the fund’s AUM as of the prior quarter.
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On February 17, 2026, Readystate Asset Management LP disclosed in a U.S. Securities and Exchange Commission (SEC) filing that it sold shares of Workiva (NYSE:WK).
What happened
According to an SEC filing dated February 17, 2026, Readystate Asset Management LP reduced its position in Workiva by 361,224 shares during the fourth quarter of 2025. The estimated value of the share sale was $31.98 million, calculated using the average closing price for the quarter. The quarter-end value of the Workiva holding declined by $31.09 million, a figure that reflects both trading activity and stock price movement.
What else to know
- Readystate Asset Management LP’s Workiva stake decreased to 0.03% of reportable AUM as of December 31, 2025, after the sale.
- Top holdings after the filing:
- NYSEMKT: IVV: $252.7 million (19.4% of AUM)
- NYSE: HSY: $72.0 million (5.5% of AUM)
- NASDAQ: CYBR: $50.3 million (3.9% of AUM)
- NYSE: BMY: $42.5 million (3.3% of AUM)
- NASDAQ: SLNO: $40.5 million (3.1% of AUM)
- As of February 17, 2026, Workiva shares were priced at $58.00, down 35.4% over the past year, underperforming the S&P 500 by 46.8 percentage points.
Company overview
| Metric | Value |
|---|---|
| Market capitalization | $3.26 billion |
| Revenue (TTM) | $884.57 million |
| Net income (TTM) | ($26.17 million) |
| Price (as of February 17, 2026) | $58.00 |
Company snapshot
- Offers a cloud-based platform for compliance and regulatory reporting, featuring data integration, collaboration, and audit trail capabilities.
- Generates revenue through subscription-based software solutions designed to streamline complex reporting and data management processes.
- Serves public and private companies, government agencies, and higher-education institutions globally.
Workiva operates at scale in the technology sector, specializing in software applications that address regulatory and compliance reporting needs. The company leverages a software-as-a-service (SaaS) business model, providing mission-critical tools that enable secure, collaborative data management for a diverse client base. Its competitive edge lies in its integrated platform, which connects disparate data sources and simplifies compliance workflows for organizations worldwide.
What this transaction means for investors
READYSTATE Asset Management sold about 97% of its Workiva position in Q4, keeping only 10,000 shares when it had previously owned more than 371,000 shares of the SaaS stock.
READYSTATE had sold in Q4 as the stock had surged, and it looks like it made a wise decision. The filing did not reveal why the fund had sold nearly all of its Workiva position. However, AI models have upended the business models of some SaaS stocks. To that end, the stock took a nosedive in early 2026, falling below its low in 2022.
Time will tell whether this decision will pay off for the company. Workiva has pivoted from serving as a reporting tool to a platform to harness the power of AI to boost productivity within an organization.
Considering that its price-to-sales (P/S) ratio fell to a multi-year low of less than 4, READYSTATE appears cheap. That factor alone will make it interesting to see whether the size of the fund’s investment in Workiva experiences another change in future quarters.
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Will Healy has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bristol Myers Squibb, Hershey, and Workiva. The Motley Fool has a disclosure policy.
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