Bank Julius Baer & Co. Ltd Zurich lessened its holdings in Slack Technologies, Inc. (NYSE:WORK) by 99.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,580 shares of the company’s stock after selling 248,173 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Slack Technologies were worth $109,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of WORK. Renaissance Technologies LLC purchased a new stake in Slack Technologies in the 4th quarter valued at about $289,965,000. TIG Advisors LLC purchased a new stake in Slack Technologies in the 4th quarter valued at about $227,890,000. Alpine Associates Management Inc. purchased a new stake in Slack Technologies in the 4th quarter valued at about $165,057,000. Westchester Capital Management LLC purchased a new stake in Slack Technologies in the 4th quarter valued at about $142,203,000. Finally, BlackRock Inc. increased its stake in Slack Technologies by 11.4% in the 4th quarter. BlackRock Inc. now owns 23,859,863 shares of the company’s stock valued at $1,007,842,000 after buying an additional 2,438,238 shares during the last quarter. Institutional investors own 65.92% of the company’s stock.
In other Slack Technologies news, insider Tamar Yehoshua sold 49,082 shares of the firm’s stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $41.20, for a total value of $2,022,178.40. Following the completion of the transaction, the insider now directly owns 221,153 shares of the company’s stock, valued at approximately $9,111,503.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Graham Smith sold 8,000 shares of the firm’s stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $41.01, for a total transaction of $328,080.00. Following the completion of the transaction, the director now directly owns 23,854 shares of the company’s stock, valued at $978,252.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 170,624 shares of company stock valued at $7,030,232. Insiders own 26.82% of the company’s stock.
Slack Technologies (NYSE:WORK) last released its quarterly earnings data on Thursday, March 4th. The company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. Slack Technologies had a negative net margin of 42.73% and a negative return on equity of 39.14%. The company had revenue of $250.60 million during the quarter, compared to the consensus estimate of $240.31 million. During the same period last year, the firm earned ($0.04) EPS. Slack Technologies’s revenue for the quarter was up 37.8% on a year-over-year basis. Research analysts forecast that Slack Technologies, Inc. will post -0.55 earnings per share for the current fiscal year.
Several research firms have commented on WORK. Morgan Stanley upgraded shares of Slack Technologies from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $27.00 to $44.00 in a research note on Wednesday, December 9th. DA Davidson decreased their price target on shares of Slack Technologies from $46.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, March 5th. Finally, Zacks Investment Research lowered shares of Slack Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, March 6th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the stock. Slack Technologies has a consensus rating of “Hold” and a consensus target price of $41.16.
Slack Technologies 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.
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