David Schellhase Sells 28,441 Shares of Slack (NYSE:WORK) Stock

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Slack (NYSE:WORK) General Counsel David Schellhase sold 28,441 shares of Slack stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $21.84, for a total value of $621,151.44. Following the completion of the transaction, the general counsel now directly owns 239,254 shares in the company, valued at approximately $5,225,307.36. The sale was disclosed in a document filed with the SEC, which is available at this link.

David Schellhase also recently made the following trade(s):

  • On Friday, November 1st, David Schellhase sold 3,139 shares of Slack stock. The shares were sold at an average price of $20.75, for a total transaction of $65,134.25.

Shares of WORK stock opened at $22.78 on Friday. Slack has a 1 year low of $19.53 and a 1 year high of $42.00. The business’s fifty day moving average is $21.76.

Slack (NYSE:WORK) last issued its quarterly earnings results on Wednesday, December 4th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.07. The company had revenue of $168.70 million during the quarter, compared to the consensus estimate of $156.14 million. Slack’s revenue was up 59.8% on a year-over-year basis. On average, analysts expect that Slack will post -0.43 EPS for the current fiscal year.

WORK has been the subject of several recent research reports. Zacks Investment Research upgraded Slack from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Saturday, October 5th. Credit Suisse Group reiterated a “neutral” rating and issued a $27.00 target price (down from $35.00) on shares of Slack in a research note on Thursday. KeyCorp set a $44.00 target price on shares of Slack and gave the stock a “buy” rating in a research report on Wednesday, September 4th. MKM Partners dropped their price target on shares of Slack from $38.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, William Blair restated a “buy” rating on shares of Slack in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company. Slack currently has an average rating of “Buy” and an average price target of $31.21.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pegasus Asset Management Inc. raised its holdings in Slack by 1.2% in the 3rd quarter. Pegasus Asset Management Inc. now owns 37,979 shares of the company’s stock valued at $901,000 after acquiring an additional 465 shares in the last quarter. Sterling Investment Advisors Ltd. boosted its stake in shares of Slack by 67.6% in the 3rd quarter. Sterling Investment Advisors Ltd. now owns 1,240 shares of the company’s stock valued at $29,000 after purchasing an additional 500 shares in the last quarter. Meadow Creek Investment Management LLC acquired a new stake in shares of Slack in the 2nd quarter valued at $25,000. Neuburgh Advisers LLC bought a new stake in shares of Slack in the 2nd quarter worth about $35,000. Finally, Gables Capital Management Inc. bought a new stake in shares of Slack in the 2nd quarter worth about $38,000. Institutional investors and hedge funds own 33.78% of the company’s stock.

About Slack

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.

Further Reading: Dead Cat Bounce

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

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