Slack (NYSE:WORK) CFO Allen Shim Sells 4,858 Shares

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Slack (NYSE:WORK) CFO Allen Shim sold 4,858 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $21.84, for a total value of $106,098.72. Following the completion of the transaction, the chief financial officer now owns 37,460 shares of the company’s stock, valued at approximately $818,126.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Allen Shim also recently made the following trade(s):

  • On Friday, November 1st, Allen Shim sold 28,321 shares of Slack stock. The stock was sold at an average price of $20.75, for a total value of $587,660.75.
  • On Monday, October 7th, Allen Shim sold 20,000 shares of Slack stock. The shares were sold at an average price of $1.44, for a total value of $28,800.00.
  • On Tuesday, October 1st, Allen Shim sold 3,905 shares of Slack stock. The shares were sold at an average price of $22.98, for a total value of $89,736.90.

Shares of Slack stock traded down $0.91 during trading on Wednesday, hitting $21.66. 16,227,053 shares of the company’s stock traded hands, compared to its average volume of 8,219,059. Slack has a 1 year low of $19.53 and a 1 year high of $42.00. The stock has a 50-day simple moving average of $21.85.

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

Several institutional investors have recently added to or reduced their stakes in the stock. Pegasus Asset Management Inc. boosted its position in shares of Slack by 1.2% during the third quarter. Pegasus Asset Management Inc. now owns 37,979 shares of the company’s stock valued at $901,000 after buying an additional 465 shares during the last quarter. Sterling Investment Advisors Ltd. boosted its position in shares of Slack by 67.6% during the third quarter. Sterling Investment Advisors Ltd. now owns 1,240 shares of the company’s stock valued at $29,000 after buying an additional 500 shares during the last quarter. Meadow Creek Investment Management LLC purchased a new stake in shares of Slack during the second quarter valued at $25,000. Neuburgh Advisers LLC purchased a new stake in shares of Slack during the second quarter valued at $35,000. Finally, Gables Capital Management Inc. purchased a new stake in shares of Slack during the second quarter valued at $38,000. 33.78% of the stock is currently owned by institutional investors.

Several equities analysts have recently weighed in on the company. Sanford C. Bernstein assumed coverage on Slack in a report on Wednesday, August 14th. They set a “market perform” rating and a $31.00 price target for the company. Piper Jaffray Companies assumed coverage on Slack in a report on Monday, October 28th. They set an “overweight” rating and a $30.00 price target for the company. Mizuho raised their price target on Slack from $20.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Credit Suisse Group restated a “neutral” rating and set a $35.00 price target (down from $40.00) on shares of Slack in a report on Thursday, September 5th. Finally, Citigroup reduced their price target on Slack from $39.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price 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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