Slack (NASDAQ:WORK) CEO Stewart Butterfield Sells 2,500 Shares

Slack (NASDAQ:WORK) CEO Stewart Butterfield sold 2,500 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $33.26, for a total value of $83,150.00. Following the completion of the sale, the chief executive officer now directly owns 90,355 shares of the company’s stock, valued at approximately $3,005,207.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Monday, September 9th, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $25.11, for a total value of $62,775.00.
  • On Thursday, September 5th, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $28.92, for a total value of $72,300.00.
  • On Tuesday, September 3rd, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $28.41, for a total value of $71,025.00.
  • On Monday, July 29th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $33.18, for a total value of $82,950.00.
  • On Friday, August 2nd, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $31.09, for a total value of $77,725.00.
  • On Friday, August 9th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $30.96, for a total value of $77,400.00.
  • On Friday, August 16th, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $30.15, for a total value of $75,375.00.
  • On Tuesday, August 20th, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $30.52, for a total value of $76,300.00.
  • On Thursday, August 29th, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $29.68, for a total value of $74,200.00.
  • On Monday, August 26th, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $30.72, for a total value of $76,800.00.

Slack stock traded down $0.22 during mid-day trading on Friday, hitting $25.40. The company’s stock had a trading volume of 1,040,874 shares, compared to its average volume of 7,600,375. Slack has a one year low of $23.93 and a one year high of $42.00. The company has a 50 day simple moving average of $30.37.

Slack (NASDAQ:WORK) last issued its quarterly earnings data on Monday, June 10th. The company reported ($0.26) earnings per share for the quarter. The company had revenue of $134.82 million during the quarter.

Institutional investors have recently made changes to their positions in the stock. Morgan Stanley acquired a new stake in Slack during the second quarter worth $766,211,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Slack in the second quarter valued at $390,768,000. Vanguard Group Inc. acquired a new stake in shares of Slack in the second quarter valued at $263,631,000. Viking Global Investors LP acquired a new stake in shares of Slack in the second quarter valued at $170,236,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Slack in the second quarter valued at $118,808,000.

WORK has been the topic of a number of analyst reports. DA Davidson lifted their price objective on Slack to $31.00 and gave the company an “average” rating in a research report on Tuesday, June 11th. Morgan Stanley started coverage on Slack in a report on Tuesday, July 16th. They issued an “equal weight” rating and a $38.00 price target on the stock. Atlantic Securities started coverage on Slack in a report on Wednesday, June 19th. They issued an “overweight” rating and a $37.00 price target on the stock. Sanford C. Bernstein started coverage on Slack in a report on Wednesday, August 14th. They issued a “market perform” rating and a $31.00 price target on the stock. Finally, Monness Crespi & Hardt upped their price objective on Slack from $39.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Slack has an average rating of “Hold” and an average target price of $36.75.

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