Insider Selling: Slack Technologies, Inc. (NYSE:WORK) SVP Sells $112,270.00 in Stock


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Slack Technologies, Inc. (NYSE:WORK) SVP Robert Frati sold 2,725 shares of the firm’s stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $41.20, for a total transaction of $112,270.00. Following the completion of the transaction, the senior vice president now owns 303,357 shares in the company, valued at $12,498,308.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of WORK opened at $41.50 on Thursday. The firm’s 50 day moving average is $41.19 and its 200-day moving average is $37.38. The stock 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. Slack Technologies, Inc. has a 12-month low of $23.35 and a 12-month high of $44.57.

Slack Technologies (NYSE:WORK) last announced 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. The company had revenue of $250.60 million for 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 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. As a group, equities research analysts forecast that Slack Technologies, Inc. will post -0.55 EPS for the current fiscal year.

A number of research firms have recently issued reports on WORK. DA Davidson reduced their price target on shares of Slack Technologies from $46.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, March 5th. Zacks Investment Research downgraded shares of Slack Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, March 6th. Finally, Morgan Stanley upgraded shares of Slack Technologies from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $27.00 to $44.00 in a research report on Wednesday, December 9th. 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 stock has a consensus rating of “Hold” and an average price target of $41.16.

Several institutional investors and hedge funds have recently made changes to their positions in WORK. Meeder Asset Management Inc. grew its stake in shares of Slack Technologies by 868.0% in the 4th quarter. Meeder Asset Management Inc. now owns 726 shares of the company’s stock worth $31,000 after purchasing an additional 651 shares during the last quarter. Alpha DNA Investment Management LLC acquired a new position in shares of Slack Technologies in the 4th quarter worth approximately $31,000. BNC Wealth Management LLC acquired a new position in shares of Slack Technologies in the 3rd quarter worth approximately $33,000. Clearview Wealth Advisors LLC acquired a new position in shares of Slack Technologies in the 4th quarter worth approximately $38,000. Finally, Avion Wealth acquired a new position in shares of Slack Technologies in the 4th quarter worth approximately $40,000. 65.92% of the stock is currently owned by institutional investors.

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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