Slack (NYSE:WORK) CEO Stewart Butterfield Sells 2,500 Shares

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Slack (NYSE:WORK) CEO Stewart Butterfield sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $27.78, for a total transaction of $69,450.00. Following the sale, the chief executive officer now owns 181,395 shares of the company’s stock, valued at approximately $5,039,153.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Stewart Butterfield also recently made the following trade(s):

  • On Monday, February 10th, Stewart Butterfield sold 2,260 shares of Slack stock. The stock was sold at an average price of $25.46, for a total transaction of $57,539.60.
  • On Thursday, February 6th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $22.90, for a total transaction of $57,250.00.
  • On Tuesday, February 4th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $22.98, for a total transaction of $57,450.00.
  • On Friday, January 31st, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $20.48, for a total transaction of $51,200.00.
  • On Wednesday, January 29th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $20.86, for a total transaction of $52,150.00.
  • On Monday, January 27th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $20.06, for a total transaction of $50,150.00.
  • On Thursday, January 23rd, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $21.55, for a total transaction of $53,875.00.
  • On Tuesday, January 21st, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $22.37, for a total transaction of $55,925.00.
  • On Friday, January 17th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $22.66, for a total transaction of $56,650.00.
  • On Wednesday, January 15th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $22.64, for a total transaction of $56,600.00.

WORK stock opened at $28.44 on Friday. The firm has a 50 day moving average of $23.31 and a 200-day moving average of $24.17. Slack has a 12 month low of $19.53 and a 12 month high of $42.00.

Slack (NYSE:WORK) last released its quarterly earnings data on Wednesday, December 4th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.07. Slack had a negative net margin of 90.86% and a negative return on equity of 554.57%. The company had revenue of $168.70 million during the quarter, compared to analyst estimates of $156.14 million. The firm’s revenue for the quarter was up 59.8% compared to the same quarter last year. Equities research analysts predict that Slack will post -0.33 EPS for the current year.

Several research firms have recently weighed in on WORK. ValuEngine upgraded shares of Slack from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Mizuho lifted their target price on shares of Slack from $20.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Co began coverage on shares of Slack in a research note on Monday, January 27th. They issued an “overweight” rating and a $30.00 target price for the company. Stephens began coverage on shares of Slack in a research note on Thursday, December 5th. They issued a “buy” rating and a $37.00 target price for the company. Finally, Royal Bank of Canada began coverage on shares of Slack in a research note on Tuesday, February 4th. They issued an “outperform” rating and a $25.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $30.76.

Several hedge funds have recently added to or reduced their stakes in WORK. Quadrant Capital Group LLC bought a new stake in shares of Slack in the 4th quarter worth approximately $27,000. CWM LLC bought a new stake in shares of Slack in the 4th quarter worth approximately $30,000. PSI Advisors LLC bought a new stake in shares of Slack in the 4th quarter worth approximately $32,000. Global Retirement Partners LLC bought a new stake in shares of Slack in the 3rd quarter worth approximately $33,000. Finally, Venturi Wealth Management LLC bought a new stake in shares of Slack in the 3rd quarter worth approximately $36,000. Institutional investors own 39.69% 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.

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