Insider Selling: Slack (NYSE:WORK) CEO Sells 2,260 Shares of Stock

Slack (NYSE:WORK) CEO Stewart Butterfield sold 2,260 shares of Slack stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $25.46, for a total value of $57,539.60. Following the completion of the sale, the chief executive officer now owns 198,155 shares of the company’s stock, valued at $5,045,026.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Stewart Butterfield also recently made the following trade(s):

  • On Thursday, February 6th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $22.90, for a total transaction of $57,250.00.
  • On Tuesday, February 4th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $22.98, for a total transaction of $57,450.00.
  • On Friday, January 31st, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $20.48, for a total transaction of $51,200.00.
  • On Wednesday, January 29th, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $20.86, for a total transaction of $52,150.00.
  • On Monday, January 27th, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $20.06, for a total transaction of $50,150.00.
  • On Thursday, January 23rd, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $21.55, for a total transaction of $53,875.00.
  • On Tuesday, January 21st, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $22.37, for a total transaction of $55,925.00.
  • On Friday, January 17th, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $22.66, for a total transaction of $56,650.00.
  • On Wednesday, January 15th, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $22.64, for a total transaction of $56,600.00.
  • On Monday, January 13th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $23.21, for a total transaction of $58,025.00.

Slack stock opened at $26.55 on Friday. The stock has a 50-day moving average price of $22.42 and a 200 day moving average price of $24.38. Slack has a 52 week low of $19.53 and a 52 week high of $42.00.

Slack (NYSE:WORK) last issued its quarterly earnings results on Wednesday, December 4th. The company reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.07. Slack had a negative net margin of 90.86% and a negative return on equity of 554.57%. The company had revenue of $168.70 million for the quarter, compared to the consensus estimate of $156.14 million. The company’s revenue for the quarter was up 59.8% on a year-over-year basis. On average, equities analysts anticipate that Slack will post -0.33 EPS for the current fiscal year.

WORK has been the subject of a number of analyst reports. DA Davidson restated a “neutral” rating and set a $26.00 target price on shares of Slack in a report on Tuesday. They noted that the move was a valuation call. Wells Fargo & Co started coverage on shares of Slack in a research report on Monday, January 27th. They issued an “overweight” rating and a $30.00 price objective on the stock. Credit Suisse Group reduced their price objective on shares of Slack from $35.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, December 5th. Robert W. Baird increased their target price on shares of Slack to $31.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Finally, Mizuho raised their target price on shares of Slack from $20.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $30.76.

Several hedge funds have recently added to or reduced their stakes in the company. Pegasus Asset Management Inc. boosted its stake in shares of Slack by 1.2% in the 3rd quarter. Pegasus Asset Management Inc. now owns 37,979 shares of the company’s stock valued at $901,000 after buying an additional 465 shares during the period. Sterling Investment Advisors Ltd. grew its position in shares of Slack by 67.6% during the third quarter. Sterling Investment Advisors Ltd. now owns 1,240 shares of the company’s stock worth $29,000 after buying an additional 500 shares in the last quarter. CSat Investment Advisory L.P. increased its stake in shares of Slack by 9.8% during the fourth quarter. CSat Investment Advisory L.P. now owns 6,735 shares of the company’s stock worth $151,000 after buying an additional 602 shares during the period. Kiwi Wealth Investments Limited Partnership increased its stake in shares of Slack by 3.4% during the fourth quarter. Kiwi Wealth Investments Limited Partnership now owns 30,272 shares of the company’s stock worth $681,000 after buying an additional 991 shares during the period. Finally, Quadrant Capital Group LLC acquired a new stake in Slack in the fourth quarter valued at approximately $27,000. 33.60% of the stock is currently owned by institutional investors and hedge funds.

About Slack

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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Insider Buying and Selling by Quarter for Slack (NYSE:WORK)

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