Workday director David Duffield sells $18.7m in company stock

Workday, Inc. (NASDAQ:WDAY) Director David A. Duffield sold 99,835 shares of the company’s Class A Common Stock on October 9, 2026, for a total value of $18,723,975. The shares were sold at prices ranging from $185.695 to $191.6999 per share.

These sales were executed pursuant to a pre-arranged Rule 10b5-1 trading plan, which was adopted by the David A. Duffield Trust on December 2, 2025.

Prior to the sales, Mr. Duffield acquired 99,835 shares of Class A Common Stock at no cost. This acquisition was a conversion of an equivalent number of Class B Common Stock shares into Class A Common Stock. Each share of Class B Common Stock is convertible into one share of Class A Common Stock.

Following these transactions, Mr. Duffield, through the David A. Duffield Trust dated July 14, 1988, for which he serves as trustee and sole beneficiary, beneficially owns 105,049 shares of Workday Class A Common Stock. Additionally, the trust holds 35,480,751 shares of Class B Common Stock, which are convertible into Class A Common Stock.The insider sale comes as Workday shares have delivered a strong 55% return over the past six months, currently trading at $186.02 with a market capitalization of $44.8 billion. According to InvestingPro analysis, the stock remains undervalued relative to its Fair Value, placing it among opportunities on the Most Undervalued list. For deeper insights into Workday’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available for this and 1,400+ other US equities on InvestingPro.

In other recent news, Workday has been navigating several developments that may interest investors. Jefferies has lowered its price target for Workday to $210 from $220, citing concerns over slowing revenue and backlog growth as the company transitions its focus towards artificial intelligence. Despite these concerns, Citi has maintained a Neutral rating with a $201 price target, ahead of Workday’s upcoming investor events, where the company is expected to reiterate its fiscal year 2028 outlook. Meanwhile, Needham has expressed confidence in Workday by reiterating a Buy rating and a $230 price target, highlighting strong demand for Workday’s agentic innovations, particularly the Extend feature.

Additionally, Cantor Fitzgerald has reiterated an Overweight rating with a $205 price target following Workday’s announcement of a 2.5% workforce reduction, primarily affecting the product and technology teams. This move also includes reducing select leased office space locations. Oppenheimer has noted a shift in AI software spending, emphasizing a focus on return on investment as enterprises evaluate AI alongside labor costs. This disciplined approach reflects a broader trend of scrutinizing software vendors’ ability to convert AI adoption into sustainable growth. These recent developments provide a comprehensive view of the current landscape for Workday and its strategic direction.