Insider Selling: Slack Technologies, Inc. (NYSE:WORK) SVP Sells 2,725 Shares of Stock

Slack Technologies, Inc. (NYSE:WORK) SVP Robert Frati sold 2,725 shares of the business’s stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $41.20, for a total transaction of $112,270.00. Following the completion of the sale, the senior vice president now directly owns 303,357 shares in the company, valued at approximately $12,498,308.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

Slack Technologies (NYSE:WORK) last issued its earnings results on Thursday, March 4th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.02. The company had revenue of $250.60 million during the quarter, compared to analysts’ expectations of $240.31 million. Slack Technologies had a negative net margin of 42.73% and a negative return on equity of 39.14%. The business’s revenue for the quarter was up 37.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) EPS. Sell-side analysts expect that Slack Technologies, Inc. will post -0.55 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. raised its position in shares of Slack Technologies by 868.0% during the 4th quarter. Meeder Asset Management Inc. now owns 726 shares of the company’s stock valued at $31,000 after acquiring an additional 651 shares during the last quarter. Alpha DNA Investment Management LLC bought a new stake in shares of Slack Technologies in the 4th quarter valued at $31,000. Clearview Wealth Advisors LLC bought a new stake in shares of Slack Technologies in the 4th quarter valued at $38,000. Avion Wealth bought a new stake in shares of Slack Technologies in the 4th quarter valued at $40,000. Finally, Arkadios Wealth Advisors increased its position 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 valued at $42,000 after buying an additional 300 shares in the last quarter. Institutional investors own 65.92% of the company’s stock.

WORK has been the topic of several analyst reports. Morgan Stanley raised shares of Slack Technologies from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $27.00 to $44.00 in a report on Wednesday, December 9th. Zacks Investment Research lowered shares of Slack Technologies from a “hold” rating to a “sell” rating in a report on Saturday, March 6th. Finally, DA Davidson lowered their target price on shares of Slack Technologies from $46.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday, March 5th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average 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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Insider Buying and Selling by Quarter for Slack Technologies (NYSE:WORK)

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