Insider Selling: Slack Technologies, Inc. (NYSE:WORK) Insider Sells $2,022,178.40 in Stock


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Slack Technologies, Inc. (NYSE:WORK) insider Tamar Yehoshua sold 49,082 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 221,153 shares of the company’s stock, valued at $9,111,503.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

NYSE:WORK opened at $41.50 on Thursday. The company has a market capitalization of $23.91 billion, a P/E ratio of -71.55 and a beta of -0.02. The business’s 50-day moving average is $41.19 and its 200 day moving average is $37.38. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.73. Slack Technologies, Inc. has a 12 month low of $23.35 and a 12 month high of $44.57.

Slack Technologies (NYSE:WORK) last issued its quarterly earnings data on Thursday, March 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. Slack Technologies had a negative return on equity of 39.14% and a negative net margin of 42.73%. The business had revenue of $250.60 million for the quarter, compared to analysts’ expectations of $240.31 million. During the same period in the prior year, the firm earned ($0.04) EPS. The company’s revenue for the quarter was up 37.8% on a year-over-year basis. On average, research analysts forecast that Slack Technologies, Inc. will post -0.55 earnings per share for the current year.

A number of research firms recently issued reports on WORK. Morgan Stanley raised shares of Slack Technologies from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $27.00 to $44.00 in a report on Wednesday, December 9th. DA Davidson cut their price objective on shares of Slack Technologies from $46.00 to $40.00 and set a “neutral” rating for the company in a research report on Friday, March 5th. Finally, Zacks Investment Research lowered Slack Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, March 6th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $41.16.

A number of hedge funds have recently added to or reduced their stakes in WORK. Arkadios Wealth Advisors grew its stake in shares of Slack Technologies by 42.9% in the 4th quarter. Arkadios Wealth Advisors now owns 1,000 shares of the company’s stock worth $42,000 after buying an additional 300 shares in the last quarter. Bedell Frazier Investment Counseling LLC increased its stake in Slack Technologies by 0.6% during the fourth quarter. Bedell Frazier Investment Counseling LLC now owns 53,945 shares of the company’s stock worth $2,279,000 after acquiring an additional 335 shares during the last quarter. Thoroughbred Financial Services LLC raised its position in Slack Technologies by 0.7% during the fourth quarter. Thoroughbred Financial Services LLC now owns 49,148 shares of the company’s stock valued at $2,076,000 after purchasing an additional 345 shares during the period. Westside Investment Management Inc. lifted its stake in shares of Slack Technologies by 4.2% in the 4th quarter. Westside Investment Management Inc. now owns 10,000 shares of the company’s stock valued at $29,960,000 after purchasing an additional 400 shares during the last quarter. Finally, KMG Fiduciary Partners LLC boosted its holdings in shares of Slack Technologies by 2.2% in the 4th quarter. KMG Fiduciary Partners LLC now owns 27,029 shares of the company’s stock worth $1,135,000 after purchasing an additional 573 shares during the period. Institutional investors and hedge funds own 65.92% of the company’s stock.

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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