Slack Technologies, Inc. (NYSE:WORK) Shares Sold by The PNC Financial Services Group Inc.

The PNC Financial Services Group Inc. lowered its position in Slack Technologies, Inc. (NYSE:WORK) by 48.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,006 shares of the company’s stock after selling 5,613 shares during the quarter. The PNC Financial Services Group Inc.’s holdings in Slack Technologies were worth $244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Slack Technologies by 29.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,570 shares of the company’s stock valued at $1,038,000 after purchasing an additional 5,795 shares during the period. Arizona State Retirement System increased its stake in shares of Slack Technologies by 18.5% in the first quarter. Arizona State Retirement System now owns 132,332 shares of the company’s stock valued at $5,377,000 after purchasing an additional 20,689 shares during the period. Rhumbline Advisers increased its stake in shares of Slack Technologies by 29.9% in the first quarter. Rhumbline Advisers now owns 532,888 shares of the company’s stock valued at $21,651,000 after purchasing an additional 122,768 shares during the period. Roberts Glore & Co. Inc. IL increased its stake in shares of Slack Technologies by 19.8% in the first quarter. Roberts Glore & Co. Inc. IL now owns 7,725 shares of the company’s stock valued at $314,000 after purchasing an additional 1,275 shares during the period. Finally, Harvest Investment Services LLC increased its stake in shares of Slack Technologies by 15.9% in the first quarter. Harvest Investment Services LLC now owns 8,081 shares of the company’s stock valued at $328,000 after purchasing an additional 1,111 shares during the period. Institutional investors own 65.16% of the company’s stock.

A number of research analysts recently commented on the stock. DA Davidson lowered their price objective 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. Zacks Investment Research lowered shares of Slack Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 5th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $41.06.

Slack Technologies stock opened at $44.46 on Friday. The business has a 50 day moving average price of $42.37. Slack Technologies, Inc. has a 52 week low of $24.09 and a 52 week high of $44.67. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.73. The firm has a market cap of $25.62 billion, a price-to-earnings ratio of -85.50 and a beta of 0.97.

Slack Technologies (NYSE:WORK) last posted its quarterly earnings data on Wednesday, June 2nd. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.09. Slack Technologies had a negative net margin of 33.28% and a negative return on equity of 30.26%. The firm had revenue of $273.40 million during the quarter, compared to analyst estimates of $264.98 million. During the same quarter last year, the business posted ($0.02) EPS. The company’s revenue was up 35.5% on a year-over-year basis. Equities analysts expect that Slack Technologies, Inc. will post -0.4 earnings per share for the current year.

In other Slack Technologies news, CEO Stewart Butterfield sold 250,000 shares of the stock in a transaction that occurred on Thursday, April 15th. The shares were sold at an average price of $42.06, for a total value of $10,515,000.00. Following the completion of the sale, the chief executive officer now owns 973,670 shares in the company, valued at approximately $40,952,560.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Allen Shim sold 76,405 shares of the stock in a transaction that occurred on Tuesday, April 13th. The stock was sold at an average price of $42.23, for a total transaction of $3,226,583.15. Following the completion of the sale, the chief financial officer now owns 175,602 shares of the company’s stock, valued at approximately $7,415,672.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 497,029 shares of company stock valued at $20,771,815. Insiders own 26.82% of the company’s stock.

Slack Technologies 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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Institutional Ownership by Quarter for Slack Technologies (NYSE:WORK)

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