Calamos Advisors LLC Has $14.83 Million Position in Slack (NYSE:WORK)

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Calamos Advisors LLC reduced its position in shares of Slack (NYSE:WORK) by 15.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 659,883 shares of the company’s stock after selling 121,530 shares during the quarter. Calamos Advisors LLC’s holdings in Slack were worth $14,834,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Morgan Stanley acquired a new stake in Slack during the 2nd quarter valued at $766,211,000. Price T Rowe Associates Inc. MD acquired a new stake in Slack during the 2nd quarter valued at $390,768,000. Vanguard Group Inc. acquired a new stake in Slack during the 2nd quarter valued at $263,631,000. Viking Global Investors LP acquired a new stake in Slack during the 2nd quarter valued at $170,236,000. Finally, Gilder Gagnon Howe & Co. LLC raised its stake in Slack by 13.1% during the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 2,927,096 shares of the company’s stock valued at $69,460,000 after purchasing an additional 339,152 shares during the period. 33.39% of the stock is currently owned by institutional investors.

Several analysts have issued reports on the stock. William Blair reissued a “buy” rating on shares of Slack in a research note on Wednesday, November 20th. 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. Stephens began coverage on shares of Slack in a research note on Thursday, December 5th. They issued a “buy” rating and a $37.00 price target on the stock. Credit Suisse Group dropped their price target on shares of Slack from $35.00 to $27.00 and set a “neutral” rating on the stock in a research note on Thursday, December 5th. Finally, Morgan Stanley dropped their price target on shares of Slack from $38.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $31.11.

In related news, CEO Stewart Butterfield sold 2,500 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $23.21, for a total value of $58,025.00. Following the completion of the sale, the chief executive officer now directly owns 243,655 shares in the company, valued at $5,655,232.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Cal Henderson sold 1,500 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $21.12, for a total transaction of $31,680.00. Insiders sold 291,450 shares of company stock valued at $6,430,945 over the last quarter.

NYSE WORK opened at $22.33 on Thursday. Slack has a 1-year low of $19.53 and a 1-year high of $42.00. The firm’s fifty day simple moving average is $22.23 and its 200-day simple moving average is $26.12.

Slack (NYSE:WORK) last issued its quarterly earnings data on Wednesday, December 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.07. The firm had revenue of $168.70 million during the quarter, compared to analysts’ expectations of $156.14 million. Slack had a negative net margin of 90.86% and a negative return on equity of 554.57%. Slack’s quarterly revenue was up 59.8% compared to the same quarter last year. On average, sell-side analysts predict that Slack will post -0.33 EPS for the current year.

Slack 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.

Read More: How big is the FinTech market?

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Institutional Ownership by Quarter for Slack (NYSE:WORK)

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