Slack Technologies, Inc. (NYSE:WORK) CAO Sells $171,927.60 in Stock

Slack Technologies, Inc. (NYSE:WORK) CAO Brandon Zell sold 4,173 shares of the firm’s stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $41.20, for a total transaction of $171,927.60. Following the completion of the transaction, the chief accounting officer now directly owns 189,527 shares in the company, valued at $7,808,512.40. The sale was disclosed in a document filed with the SEC, which is available at this link.

Shares of Slack Technologies stock opened at $41.50 on Thursday. The firm has a market capitalization of $23.91 billion, a price-to-earnings ratio of -71.55 and a beta of -0.02. Slack Technologies, Inc. has a fifty-two week low of $23.35 and a fifty-two week high of $44.57. The company has a debt-to-equity ratio of 0.73, a quick ratio of 3.29 and a current ratio of 3.29. The stock has a 50 day moving average of $41.19 and a 200 day moving average of $37.38.

Slack Technologies (NYSE:WORK) last issued its quarterly earnings data on Thursday, March 4th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.02. The company had revenue of $250.60 million during the quarter, compared to analyst estimates of $240.31 million. Slack Technologies had a negative return on equity of 39.14% and a negative net margin of 42.73%. The firm’s revenue for the quarter was up 37.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.04) earnings per share. Analysts forecast that Slack Technologies, Inc. will post -0.55 EPS for the current year.

A number of institutional investors have recently modified their holdings of the stock. Arkadios Wealth Advisors grew its position in Slack Technologies by 42.9% in the fourth quarter. Arkadios Wealth Advisors now owns 1,000 shares of the company’s stock worth $42,000 after acquiring an additional 300 shares during the period. Bedell Frazier Investment Counseling LLC grew its position in Slack Technologies by 0.6% in the fourth quarter. Bedell Frazier Investment Counseling LLC now owns 53,945 shares of the company’s stock worth $2,279,000 after acquiring an additional 335 shares during the period. Thoroughbred Financial Services LLC grew its position in Slack Technologies by 0.7% in the fourth quarter. Thoroughbred Financial Services LLC now owns 49,148 shares of the company’s stock worth $2,076,000 after acquiring an additional 345 shares during the period. Westside Investment Management Inc. grew its position in Slack Technologies by 4.2% in the fourth quarter. Westside Investment Management Inc. now owns 10,000 shares of the company’s stock worth $29,960,000 after acquiring an additional 400 shares during the period. Finally, KMG Fiduciary Partners LLC boosted its position in shares of Slack Technologies by 2.2% during the fourth quarter. KMG Fiduciary Partners LLC now owns 27,029 shares of the company’s stock worth $1,135,000 after buying an additional 573 shares during the period. Institutional investors own 65.92% of the company’s stock.

A number of research analysts recently weighed in on the stock. DA Davidson decreased 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 note on Friday, March 5th. Morgan Stanley raised shares of Slack Technologies from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $27.00 to $44.00 in a research note on Wednesday, December 9th. Finally, Zacks Investment Research lowered shares of Slack Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, March 6th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $41.16.

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.

Featured Article: Analyst Ratings Trading

Insider Buying and Selling by Quarter for Slack Technologies (NYSE:WORK)

Receive News & Ratings for Slack Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Slack Technologies and related companies with MarketBeat.com's FREE daily email newsletter.