296,048 Shares in Slack (NYSE:WORK) Bought by First Trust Advisors LP
First Trust Advisors LP bought a new position in shares of Slack (NYSE:WORK) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 296,048 shares of the company’s stock, valued at approximately $7,946,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Belpointe Asset Management LLC bought a new position in Slack during the fourth quarter worth about $374,000. Credit Suisse AG increased its position in Slack by 32.0% during the fourth quarter. Credit Suisse AG now owns 191,437 shares of the company’s stock worth $4,303,000 after acquiring an additional 46,454 shares during the period. Financial Counselors Inc. bought a new position in Slack during the first quarter worth about $743,000. Stifel Financial Corp increased its holdings in Slack by 17.1% in the 3rd quarter. Stifel Financial Corp now owns 10,024 shares of the company’s stock valued at $231,000 after buying an additional 1,465 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in Slack in the 4th quarter valued at about $377,000. Institutional investors and hedge funds own 47.81% of the company’s stock.
Several equities analysts have commented on WORK shares. Credit Suisse Group raised their target price on shares of Slack from $21.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. DA Davidson raised their target price on shares of Slack from $20.00 to $29.00 and gave the company a “neutral” rating in a report on Friday, March 27th. Morgan Stanley raised their target price on shares of Slack from $25.00 to $29.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. ValuEngine raised shares of Slack from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Monness Crespi & Hardt decreased their target price on shares of Slack from $41.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, March 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $29.35.
NYSE:WORK opened at $31.71 on Friday. The firm’s 50 day simple moving average is $27.56 and its 200 day simple moving average is $24.23. Slack has a one year low of $15.10 and a one year high of $42.00. The company has a market cap of $17.51 billion and a PE ratio of -20.33.
Slack (NYSE:WORK) last posted 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. Slack had a negative net margin of 90.58% and a negative return on equity of 138.05%. The business had revenue of $181.90 million for the quarter, compared to the consensus estimate of $174.24 million. The firm’s quarterly revenue was up 49.1% on a year-over-year basis. On average, equities analysts predict that Slack will post -0.61 earnings per share for the current fiscal year.
Slack Company Profile
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.
Further Reading: Market Indexes
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