At a glance
David A. Duffield, a long-time principal shareholder and listed as owning roughly ten percent of Workday Inc (NASDAQ: WDAY), executed sales of 107,500 shares of the companys Class A Common Stock on March 23, 2026. The aggregate proceeds were approximately $14.7 million, generated across several transactions with prices ranging from $134.6624 to $137.554 per share.
Breakdown of the sale
- 2,500 shares sold at a weighted average price of $134.6624
- 21,592 shares sold at a weighted average price of $135.7603
- 48,797 shares sold at a weighted average price of $136.8891
- 34,611 shares sold at a weighted average price of $137.554
Those dispositions were carried out pursuant to a Rule 10b5-1 trading plan that Duffield put in place on December 2, 2025.
Concurrent conversion and post-transaction holdings
On the same date as the sales, Duffield converted 107,500 shares of Class B Common Stock into an equal number of Class A Common Stock shares. Following the sales and conversion, Duffield's direct holdings stand at 105,049 shares of Workday Class A Common Stock.
Share price context and valuation view
The insider activity took place against a backdrop of a substantial share-price decline: Workdays stock has fallen 47% over the past six months and was trading at $127.07 at the time referenced. An InvestingPro analysis cited in the company commentary indicates the stock appears undervalued at current levels, noting a gross profit margin of 76% and a balance sheet with more cash than debt.
Recent operating and commercial developments
Workday reported Q4 FY2026 results that met revenue guidance and beat earnings expectations. Management attributed an improvement in operating margin in part to a moderately slow hiring pace during the quarter. Commercially, Fairview Health Services selected Workday to modernize HR, finance, and supply chain systems, a program that will transition 34,000 employees onto Workdays platform as part of a multi-year deployment.
Governance and analyst moves
Workdays Board granted equity awards to Aneel Bhusri following his appointment as Chief Executive Officer; those awards consist of restricted stock units for 437,602 shares of Workday Class A Common Stock, with vesting scheduled over four years. In the wake of recent developments and outlook concerns, three brokerages Freedom Capital Markets, BMO Capital, and DA Davidson lowered their price targets on the shares. The brokers cited AI competition risk, growth uncertainty, and guidance misses among their reasons. Despite the target cuts, Freedom Capital retained a Buy rating, BMO Capital kept an Outperform, and DA Davidson maintained a Neutral rating.
Research access
For investors seeking additional analysis, a comprehensive Pro Research Report is available for WDAY and more than 1,400 other U.S. stocks on InvestingPro.
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