The cluster is dominated by David Duffield's sales tied to derivative conversions — a routine pattern for a 10% owner. CFO Rowe's $393K sale is modest relative to his likely holdings. No C-suite buying to offset. Monitor next 10-Q for any guidance revision, but this cluster alone does not warrant a trade.
Price Chart
Executive Summary
A cluster of insider selling at Workday (WDAY) over the past week, led by 10% owner David Duffield and CFO Zane Rowe, totaled ~$777K in open-market sales. While the dollar amount is trivial relative to WDAY's $35.8B market cap (0.002%), the cluster includes the co-founder/10% owner and the CFO, which adds informational weight. The sales are likely liquidity-driven (Duffield's sales coincide with derivative conversions), and the proportionality check shows no material signal — this is routine insider activity.
Key Financial Metrics
Key Facts
- 4 insiders sold a total of ~$777K in open-market sales over a 7-day window
- David Duffield (10% owner) sold ~$14.7M across multiple transactions on 2026-07-09, including derivative conversions
- CFO Zane Rowe sold $393K, President Robert Enslin sold $114K, President Gerrit Kazmaier sold $43K
- Total cluster value of $777K represents ~0.002% of WDAY's $35.8B market cap — trivial
- Duffield's sales coincided with derivative conversions of 107,500 shares at $0 (non-cash exercise)
- Historical performance on WDAY shows avg T+20 alpha of -4.99% with 33% win rate — past calls have underperformed
Financial Impact
Total insider sales of ~$777K represent ~0.002% of WDAY's $35.8B market cap — immaterial
Risk Factors
- Insider selling by co-founder and CFO could signal lack of conviction if it accelerates
- Historical T+20 alpha on WDAY reports is -4.99% with 33% win rate — past calls have underperformed
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-WDAY-1784009037918 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 27, 2026 5w ago | Press Release | $204.72 $188.60 | ▼ −7.87% | ▼ −8.13% | $186.14 (−9.08%) |
Jul 14, 2026 11w ago | Insider Cluster | $141.82 $175.29 | ▲ +23.60% | ▲ +21.26% | $186.14 (+31.25%) |
Jul 13, 2026 11w ago | Insider Cluster | $144.87 $184.19 | ▲ +27.14% | ▲ +23.96% | $186.14 (+28.49%) |
Jul 7, 2026 12w ago | Insider Cluster | $137.88 $170.64 | ▲ +23.76% | ▲ +20.48% | $186.14 (+35.00%) |
Jul 7, 2026 12w ago | Insider Cluster | $143.65 $165.05 | ▲ +14.90% | ▲ +13.57% | $186.14 (+29.58%) |
Jun 25, 2026 14w ago | 144 | $124.21 $127.87 | ▲ +2.95% | ▲ +1.69% | $186.14 (+49.86%) |
Jun 22, 2026 14w ago | 144 | $115.13 $147.22 | ▲ +27.87% | ▲ +26.71% | $186.14 (+61.68%) |
Jun 13, 2026 15w ago | Institutional Cluster | $129.60 $144.87 | ▼ −11.78% | ▼ −12.53% | $186.14 (−43.63%) |
Jun 12, 2026 15w ago | 144 | $129.60 $144.87 | ▲ +11.78% | ▲ +12.53% | $186.14 (+43.63%) |
Jun 9, 2026 16w ago | 144 | $137.47 $138.34 | ▲ +0.63% | ▼ −2.99% | $186.14 (+35.40%) |
US Market Status
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