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Workday, Inc. [WDAY]

Reporting date: 10/08/2025

⚠️ Neutral Insider Mix Detected

📝 What Happened

  • Insider: DUFFIELD DAVID A
  • Role: 10% owner
  • Company: Workday, Inc. (WDAY)
  • Transaction Date(s): 2025-10-08
  • Table I (Non-Derivative Securities)
    • Sale : 75,053 shares
    • Average Sale Price: $236.35
    • Total Value: 75,053 * $236.35 ≈ $17,738,401
    • Post-Transaction Direct Holdings: 102,997 shares
    • Indirect Holdings: 15,000 shares (Dave and Cheryl Duffield Foundation)
    • 10b5-1 Plan Used? Yes (sale effected pursuant to a Rule 10b5-1 trading plan)

📄 Summary

DUFFIELD DAVID A, 10% owner at Workday, Inc. (WDAY), mixed 75,053 shares on October 08, 2025, at an average price of $236.35, realizing proceeds of about ~$17,738,401. After the transaction, he now holds 102,997 shares directly and 15,000 shares indirectly. For retail traders, this is a neutral-to-slightly bearish event: routine plan-driven sales for liquidity, not a clear negative signal.

🔑 Interpretation

  • Type: Plan-driven (Rule 10b5-1) — pre-arranged sales rather than an ad-hoc discretionary sale.
  • Disposition: Shares were sold (multiple sell transactions executed under the 10b5-1 plan); one conversion (Class B to Class A) was followed by sales.
  • Size Context: The insider sold 75,053 shares — roughly 42% of the 178,050 shares shown immediately after the conversion — a meaningful reduction in direct holdings but small relative to the issuer-level stake implied elsewhere in the filing; it appears as scheduled liquidity/profit-taking rather than an emergency divestment.
  • ATH Metric: The trades executed near ~$236 per share. This price is not at an obvious historical low and sits below recent multi-month/all-time intraday peaks for many large-cap software names; the timing appears opportunistic for routine liquidity rather than clearly triggered by an all-time high or low price event.
  • Outlier Check: Not unusually large for this reporting person given prior periodic 10b5-1 activity and the size of the underlying holdings — consistent with planned, staged sales.

📊 Bullish or Bearish?

Neutral → Slightly Bearish

Neutral → Slightly Bearish. The filing shows a conversion (code C) immediately matched by multiple sales (code S) executed under a 10b5-1 plan, producing significant realized proceeds but leaving meaningful residual direct and indirect holdings. The activity reads as planned liquidity/profit-taking rather than a fresh negative signal; completeness of context (other insiders, cluster activity) is limited in this single filing.

✅ Bottom Line (Retail Takeaway)

This transaction looks like routine profit-taking under a pre-arranged 10b5-1 plan rather than a strong bearish signal. For retail traders, it’s likely noise — not a tradeable event alone unless corroborated by sales from multiple senior insiders or material company developments.