Insider Selling: Slack (NYSE:WORK) CEO Sells 2,500 Shares of Stock

Slack (NYSE:WORK) CEO Stewart Butterfield sold 2,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $21.93, for a total transaction of $54,825.00. Following the completion of the sale, the chief executive officer now directly owns 192,447 shares of the company’s stock, valued at $4,220,362.71. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

  • On Friday, November 29th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $22.89, for a total transaction of $57,225.00.
  • On Wednesday, November 27th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $22.47, for a total transaction of $56,175.00.
  • On Monday, November 25th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $22.11, for a total transaction of $55,275.00.
  • On Friday, November 22nd, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $21.16, for a total transaction of $52,900.00.
  • On Wednesday, November 20th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $21.49, for a total transaction of $53,725.00.
  • On Monday, November 18th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $23.10, for a total transaction of $57,750.00.
  • On Thursday, November 14th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $21.33, for a total transaction of $53,325.00.
  • On Tuesday, November 12th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $20.37, for a total transaction of $50,925.00.
  • On Wednesday, November 6th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $20.50, for a total transaction of $51,250.00.
  • On Friday, November 1st, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $20.75, for a total transaction of $51,875.00.

Shares of Slack stock traded down $0.91 during trading on Wednesday, hitting $21.66. 16,227,053 shares of the stock traded hands, compared to its average volume of 8,219,059. Slack has a 52-week low of $19.53 and a 52-week high of $42.00. The firm’s fifty day moving average is $21.85.

Slack (NYSE:WORK) last announced its quarterly earnings results on Wednesday, September 4th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.05. The firm had revenue of $144.97 million for the quarter, compared to analysts’ expectations of $140.60 million. As a group, research analysts forecast that Slack will post -0.43 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in WORK. Meadow Creek Investment Management LLC purchased a new position in shares of Slack during the second quarter valued at $25,000. Sterling Investment Advisors Ltd. purchased a new position in shares of Slack during the second quarter valued at $28,000. Global Retirement Partners LLC purchased a new position in shares of Slack during the third quarter valued at $33,000. Neuburgh Advisers LLC purchased a new position in shares of Slack during the second quarter valued at $35,000. Finally, Venturi Wealth Management LLC purchased a new position in shares of Slack during the third quarter valued at $36,000. Hedge funds and other institutional investors own 33.78% of the company’s stock.

Several research firms have weighed in on WORK. Piper Jaffray Companies began coverage on Slack in a research note on Monday, October 28th. They issued an “overweight” rating and a $30.00 price target for the company. Goldman Sachs Group set a $34.00 price target on Slack and gave the stock a “hold” rating in a research note on Thursday, September 5th. DA Davidson dropped their price target on Slack to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Monness Crespi & Hardt upped their price target on Slack from $39.00 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. Finally, Barclays restated a “buy” rating and issued a $31.00 price target on shares of Slack in a research note on Sunday, November 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. Slack currently has an average rating of “Buy” and an average price target of $32.63.

Slack 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 (NYSE:WORK)

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