Insider Selling: Slack Technologies, Inc. (NYSE:WORK) CTO Sells $45,240.00 in Stock

Slack Technologies, Inc. (NYSE:WORK) CTO Cal Henderson sold 1,500 shares of Slack Technologies stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $30.16, for a total value of $45,240.00. Following the sale, the chief technology officer now directly owns 42,061 shares in the company, valued at $1,268,559.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Cal Henderson also recently made the following trade(s):

  • On Wednesday, October 14th, Cal Henderson sold 1,500 shares of Slack Technologies stock. The shares were sold at an average price of $32.45, for a total value of $48,675.00.
  • On Monday, October 12th, Cal Henderson sold 1,500 shares of Slack Technologies stock. The shares were sold at an average price of $31.61, for a total value of $47,415.00.
  • On Wednesday, October 7th, Cal Henderson sold 1,500 shares of Slack Technologies stock. The shares were sold at an average price of $30.00, for a total value of $45,000.00.
  • On Tuesday, September 8th, Cal Henderson sold 1,500 shares of Slack Technologies stock. The shares were sold at an average price of $30.01, for a total value of $45,015.00.
  • On Friday, September 4th, Cal Henderson sold 1,500 shares of Slack Technologies stock. The shares were sold at an average price of $30.83, for a total value of $46,245.00.
  • On Wednesday, September 2nd, Cal Henderson sold 1,500 shares of Slack Technologies stock. The shares were sold at an average price of $33.75, for a total value of $50,625.00.
  • On Monday, August 31st, Cal Henderson sold 3,000 shares of Slack Technologies stock. The shares were sold at an average price of $32.05, for a total value of $96,150.00.
  • On Thursday, August 27th, Cal Henderson sold 3,000 shares of Slack Technologies stock. The shares were sold at an average price of $30.27, for a total value of $90,810.00.
  • On Friday, August 21st, Cal Henderson sold 3,000 shares of Slack Technologies stock. The stock was sold at an average price of $30.06, for a total value of $90,180.00.
  • On Wednesday, August 5th, Cal Henderson sold 1,500 shares of Slack Technologies stock. The stock was sold at an average price of $30.09, for a total value of $45,135.00.

Shares of Slack Technologies stock opened at $32.25 on Friday. The stock has a fifty day simple moving average of $28.58 and a 200 day simple moving average of $29.69. Slack Technologies, Inc. has a 12-month low of $15.10 and a 12-month high of $40.07. The company has a market capitalization of $18.40 billion, a P/E ratio of -55.60 and a beta of -0.21. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.73.

Slack Technologies (NYSE:WORK) last announced its quarterly earnings results on Tuesday, September 8th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.03. Slack Technologies had a negative return on equity of 39.14% and a negative net margin of 42.73%. The business had revenue of $215.90 million during the quarter, compared to the consensus estimate of $209.22 million. During the same quarter in the prior year, the company posted ($0.14) earnings per share. Slack Technologies’s revenue was up 48.9% compared to the same quarter last year. On average, analysts predict that Slack Technologies, Inc. will post -0.55 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the stock. Pegasus Asset Management Inc. grew its holdings in Slack Technologies by 0.6% during the second quarter. Pegasus Asset Management Inc. now owns 72,838 shares of the company’s stock worth $2,265,000 after buying an additional 419 shares in the last quarter. Joseph P. Lucia & Associates LLC grew its holdings in Slack Technologies by 30.6% during the second quarter. Joseph P. Lucia & Associates LLC now owns 3,245 shares of the company’s stock worth $101,000 after buying an additional 760 shares in the last quarter. Fifth Third Bancorp purchased a new position in Slack Technologies in the second quarter worth $31,000. First PREMIER Bank purchased a new position in Slack Technologies in the third quarter worth $27,000. Finally, Synovus Financial Corp boosted its position in Slack Technologies by 284.7% in the second quarter. Synovus Financial Corp now owns 1,354 shares of the company’s stock worth $41,000 after purchasing an additional 1,002 shares during the last quarter. Institutional investors and hedge funds own 65.92% of the company’s stock.

A number of research firms recently commented on WORK. Wells Fargo & Company cut their price objective on Slack Technologies from $40.00 to $33.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. They noted that the move was a valuation call. Zacks Investment Research raised Slack Technologies from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Thursday, August 6th. Barclays lowered their target price on Slack Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a report on Wednesday, September 9th. They noted that the move was a valuation call. Canaccord Genuity lowered their target price on Slack Technologies from $38.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, September 9th. Finally, Mizuho lowered their target price on Slack Technologies from $29.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, September 9th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $32.33.

About Slack Technologies

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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