First Trust Advisors LP acquired a new position in Slack (NYSE:WORK) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 296,048 shares of the company’s stock, valued at approximately $7,946,000. First Trust Advisors LP owned 0.05% of Slack as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. CSat Investment Advisory L.P. boosted its stake in Slack by 9.8% in the 4th quarter. CSat Investment Advisory L.P. now owns 6,735 shares of the company’s stock worth $151,000 after purchasing an additional 602 shares during the period. Kiwi Wealth Investments Limited Partnership boosted its stake in Slack by 3.4% in the 4th quarter. Kiwi Wealth Investments Limited Partnership now owns 30,272 shares of the company’s stock worth $681,000 after purchasing an additional 991 shares during the period. Duncker Streett & Co. Inc. acquired a new position in Slack in the 1st quarter worth approximately $27,000. Quadrant Capital Group LLC acquired a new position in Slack in the 4th quarter worth approximately $27,000. Finally, Vista Wealth Management Group LLC boosted its stake in shares of Slack by 2.6% during the 1st quarter. Vista Wealth Management Group LLC now owns 50,017 shares of the company’s stock valued at $1,342,000 after buying an additional 1,256 shares during the period. 47.81% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Stewart Butterfield sold 2,500 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $24.05, for a total transaction of $60,125.00. Following the transaction, the chief executive officer now owns 145,195 shares in the company, valued at approximately $3,491,939.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John Ofarrell sold 42,990 shares of the business’s stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $18.77, for a total transaction of $806,922.30. The disclosure for this sale can be found here. Insiders sold a total of 1,771,999 shares of company stock worth $42,848,500 in the last quarter. Insiders own 26.82% of the company’s stock.
Shares of WORK opened at $31.71 on Friday. The company has a market capitalization of $17.51 billion and a PE ratio of -20.33. Slack has a one year low of $15.10 and a one year high of $42.00. The company’s fifty day moving average price is $27.56 and its 200 day moving average price is $24.23.
Slack (NYSE:WORK) last announced its earnings results on Thursday, March 12th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. The firm had revenue of $181.90 million for the quarter, compared to the consensus estimate of $174.24 million. Slack had a negative net margin of 90.58% and a negative return on equity of 138.05%. The company’s revenue for the quarter was up 49.1% compared to the same quarter last year. As a group, equities research analysts forecast that Slack will post -0.61 EPS for the current year.
WORK has been the subject of a number of research reports. DA Davidson lifted their target price on shares of Slack from $20.00 to $29.00 and gave the company a “neutral” rating in a research note on Friday, March 27th. Stephens reissued a “buy” rating and set a $32.00 target price on shares of Slack in a research note on Thursday, March 26th. Wells Fargo & Co decreased their target price on shares of Slack from $30.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, March 13th. Monness Crespi & Hardt decreased their target price on shares of Slack from $41.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, March 13th. Finally, Zacks Investment Research lowered shares of Slack from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $29.35.
Slack Technologies, Inc operates Slack, a business technology software platform in the United States and internationally. Its platform brings together people, applications, and data, as well as sells its offering under a software-as-a-service model. The company was formerly known as Tiny Speck, Inc and changed its name to Slack Technologies, Inc in 2014.
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