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

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

Slack (NYSE:WORK) CEO Stewart Butterfield sold 2,500 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $23.06, for a total value of $57,650.00. Following the completion of the transaction, the chief executive officer now directly owns 246,155 shares of the company’s stock, valued at approximately $5,676,334.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Wednesday, January 8th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $23.92, for a total value of $59,800.00.
  • On Monday, January 6th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $23.33, for a total value of $58,325.00.
  • On Friday, January 3rd, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $22.61, for a total value of $56,525.00.
  • On Thursday, December 26th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $21.74, for a total value of $54,350.00.
  • On Wednesday, December 18th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $21.11, for a total value of $52,775.00.
  • On Monday, December 16th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $21.51, for a total value of $53,775.00.
  • On Friday, December 13th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $21.10, for a total value of $52,750.00.
  • On Wednesday, December 11th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $20.90, for a total value of $52,250.00.
  • On Monday, December 9th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $22.86, for a total value of $57,150.00.
  • On Friday, December 6th, Stewart Butterfield sold 2,500 shares of Slack stock. The stock was sold at an average price of $22.75, for a total value of $56,875.00.

Shares of Slack stock opened at $22.28 on Wednesday. The stock has a 50 day moving average of $22.23 and a 200 day moving average of $26.19. Slack has a 12 month low of $19.53 and a 12 month high of $42.00.

Slack (NYSE:WORK) last announced its quarterly earnings results on Wednesday, December 4th. The company reported ($0.02) EPS 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 analyst estimates of $156.14 million. Slack had a negative return on equity of 554.57% and a negative net margin of 90.86%. Slack’s revenue was up 59.8% on a year-over-year basis. Research analysts predict that Slack will post -0.33 earnings per share for the current year.

Large investors have recently bought and sold shares of the company. State Street Corp bought a new stake in shares of Slack in the 3rd quarter valued at approximately $534,000. Cetera Investment Advisers purchased a new stake in shares of Slack in the third quarter worth approximately $200,000. Gainplan LLC purchased a new stake in shares of Slack in the third quarter worth approximately $712,000. Kessler Investment Group LLC purchased a new stake in shares of Slack in the third quarter worth approximately $342,000. Finally, Tenzing Global Management LLC purchased a new stake in shares of Slack in the third quarter worth approximately $593,000. 33.39% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently weighed in on the company. Piper Jaffray Companies initiated coverage on Slack in a research note on Monday, October 28th. They issued an “overweight” rating and a $30.00 price objective for the company. Monness Crespi & Hardt initiated coverage on Slack in a research note on Thursday, December 5th. They set a “buy” rating and a $41.00 price target for the company. Morgan Stanley dropped their price target on Slack from $38.00 to $28.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Zacks Investment Research raised Slack from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Saturday. Finally, Wedbush reissued a “sell” rating and set a $14.00 price target on shares of Slack in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $31.11.

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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