David A. Duffield, who holds approximately a ten percent stake in Workday, Inc. (NASDAQ: WDAY), executed a sale of Class A common stock valued at roughly $13.9 million on April 6, 2026, regulatory filings show.
The trades comprised a total of 96,490 Class A shares. Reported prices for the parcels ranged from $128.9736 to $132.0075 per share. The breakdown by tranche was: 18,924 shares at a weighted average price of $128.9736; 74,430 shares at a weighted average price of $129.6105; 13,346 shares at a weighted average price of $130.292; and 800 shares at a weighted average price of $132.0075.
On the same day, Duffield converted 107,500 shares of Class B common stock into Class A common stock, increasing his Class A holdings through a conversion rather than an outright purchase.
Those transactions occurred while Workday shares were trading at $127.51, representing a decline of 45% over the prior six months and placing the stock near its 52-week low of $117.76.
Context from company results and analyst reactions
Workday reported solid results for the fourth quarter of fiscal 2026, meeting revenue forecasts and exceeding earnings expectations. Despite this outcome, several sell-side firms adjusted their price targets and outlooks.
- DA Davidson lowered its price target for Workday to $125, citing guidance that missed forecasts for both revenue and profitability.
- BMO Capital moved its target to $182, pointing to uncertainty around growth as the company focuses on innovation and AI capabilities.
- Freedom Capital Markets trimmed its price objective to $210 but kept a Buy rating, noting competition risks in AI.
In parallel, InvestingPro analysis included in the filings and commentary suggests Workday may be undervalued, noting a 75.7% gross profit margin and a strong balance sheet position; subscribers are offered 17 additional ProTips related to the company.
Corporate developments
Workday’s board approved equity awards to Aneel Bhusri, the company’s co-founder, in connection with his recent appointment as CEO. The award consists of a restricted stock unit for 437,602 shares of Workday Class A common stock, set to vest over a four-year schedule.
Separately, Fairview Health Services selected Workday to deploy an integrated platform covering human resources, finance and supply chain management as part of Fairview’s modernization initiative. The customer selection was highlighted alongside the other recent corporate and market developments.
Taken together, the insider sale and conversion, recent quarterly performance, analyst target changes and executive equity grants present a mix of signals for investors assessing Workday at current pricing levels.