Workday’s David Duffield sells shares worth $21.46 million

David Duffield, a prominent shareholder of Workday, Inc. (NASDAQ:WDAY), executed a series of stock transactions recently, selling shares valued at approximately $21.46 million. The transactions, which occurred on March 14 and March 17, 2025, involved the sale of Class A Common Stock at prices ranging from $240.3039 to $252.2343 per share. The sales come as Workday, now valued at $67 billion, maintains a strong financial health rating according to InvestingPro analysis.

The sales were carried out under a Rule 10b5-1 trading plan, which had been previously established by the David A. Duffield Trust, the Cheryl D. Duffield Trust, and the Dave & Cheryl Duffield Foundation. Following these transactions, Duffield holds a significant number of shares through various trusts and foundations.

The transactions included multiple sales on March 14, with prices per share ranging from $240.3039 to $245.1133. On March 17, additional sales were executed, with prices ranging from $243.5311 to $252.2343 per share. The shares are held indirectly by the Dave and Cheryl Duffield Foundation and the David A. Duffield Trust, among others.

These sales are part of Duffield’s ongoing management of his stake in Workday, a leading provider of enterprise cloud applications for finance and human resources. The transactions were disclosed in a recent SEC filing, providing transparency to investors and stakeholders. With the company’s next earnings report expected on May 22, 2025, investors can access comprehensive analysis and 13 additional ProTips through InvestingPro’s detailed research reports.

In other recent news, Workday has reported strong fourth-quarter earnings that exceeded expectations, prompting several analysts to revise their price targets for the company’s stock. Scotiabank (TSX:BNS) raised its target to $355, maintaining a Sector Outperform rating, following impressive results in the UK and Germany and a notable focus on artificial intelligence (AI). Workday’s subscription revenue is projected to grow by about 15% by fiscal year 2026, with a free cash flow margin set at 28.2%, surpassing consensus estimates.

BMO Capital increased its price target to $314, citing the company’s strategic use of AI as a potential growth driver, although this potential is not fully recognized by investors yet. Stifel also adjusted its target to $310, highlighting Workday’s strong calculated remaining performance obligations (cRPO) growth and improved operating margins. RBC Capital raised its target to $340, noting the company’s solid fourth-quarter performance and early adoption of AI.

Piper Sandler updated its target to $290, reflecting anticipated margin benefits from a workforce reduction, though it maintained a Neutral rating due to a potential slowdown in revenue growth. Workday’s management has provided guidance for fiscal year 2026, expecting an operating margin of 28% and reaffirming a subscription revenue target of $8.8 billion. These developments indicate a positive sentiment among analysts regarding Workday’s financial health and strategic initiatives.

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