Stewart Butterfield Sells 2,260 Shares of Slack (NYSE:WORK) Stock

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Slack (NYSE:WORK) CEO Stewart Butterfield sold 2,260 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $25.46, for a total transaction of $57,539.60. Following the completion of the transaction, the chief executive officer now directly owns 198,155 shares in the company, valued at approximately $5,045,026.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

  • On Thursday, February 6th, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $22.64, for a total transaction of $56,600.00.
  • On Monday, January 13th, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $23.21, for a total transaction of $58,025.00.

Slack stock opened at $27.99 on Friday. Slack has a 12-month low of $19.53 and a 12-month high of $42.00. The firm’s fifty day moving average price is $22.52 and its 200 day moving average price is $24.35.

Slack (NYSE:WORK) last released its quarterly earnings results on Wednesday, December 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm had revenue of $168.70 million for the quarter, compared to the consensus estimate of $156.14 million. The company’s revenue for the quarter was up 59.8% compared to the same quarter last year. On average, equities analysts expect that Slack will post -0.33 EPS for the current fiscal year.

A number of equities analysts have recently commented on WORK shares. Robert W. Baird raised their target price on shares of Slack to $31.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Zacks Investment Research raised shares of Slack from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Saturday, January 11th. William Blair reissued a “buy” rating on shares of Slack in a research note on Wednesday, November 20th. Stephens initiated coverage on shares of Slack in a research note on Thursday, December 5th. They issued a “buy” rating and a $37.00 target price on the stock. Finally, Barclays reaffirmed a “buy” rating and set a $31.00 price target on shares of Slack in a research note on Sunday, November 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Slack has a consensus rating of “Buy” and an average target price of $30.76.

Several institutional investors and hedge funds have recently added to or reduced their stakes in WORK. AH Equity Partners I L.L.C. bought a new stake in shares of Slack in the 4th quarter worth about $220,628,000. FMR LLC increased its position in shares of Slack by 142.1% in the 4th quarter. FMR LLC now owns 10,336,759 shares of the company’s stock worth $232,370,000 after purchasing an additional 6,067,761 shares during the last quarter. Spark Growth Management Partners LLC bought a new stake in shares of Slack in the 4th quarter worth about $113,570,000. AH Equity Partners IV Parallel L.L.C. bought a new stake in shares of Slack in the 4th quarter worth about $85,793,000. Finally, FIL Ltd increased its position in shares of Slack by 21.4% in the 4th quarter. FIL Ltd now owns 12,518,844 shares of the company’s stock worth $281,423,000 after purchasing an additional 2,204,105 shares during the last quarter. 33.60% of the stock is owned by institutional investors.

Slack Company 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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