AE Wealth Management LLC Purchases Shares of 14,161 Slack (NYSE:WORK)

Share on StockTwits

AE Wealth Management LLC purchased a new stake in Slack (NYSE:WORK) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 14,161 shares of the company’s stock, valued at approximately $380,000.

A number of other institutional investors have also added to or reduced their stakes in WORK. AH Equity Partners I L.L.C. purchased a new stake in Slack in the fourth quarter valued at about $220,628,000. FMR LLC raised its stake in Slack by 142.1% in the fourth quarter. FMR LLC now owns 10,336,759 shares of the company’s stock valued at $232,370,000 after buying an additional 6,067,761 shares during the last quarter. Alliancebernstein L.P. raised its stake in Slack by 376.7% in the fourth quarter. Alliancebernstein L.P. now owns 6,620,586 shares of the company’s stock valued at $148,831,000 after buying an additional 5,231,846 shares during the last quarter. Spark Growth Management Partners LLC purchased a new position in shares of Slack in the fourth quarter worth about $113,570,000. Finally, AH Equity Partners IV Parallel L.L.C. purchased a new position in shares of Slack in the fourth quarter worth about $85,793,000. Institutional investors own 47.81% of the company’s stock.

Several research analysts have recently issued reports on WORK shares. Credit Suisse Group raised their price objective on Slack from $21.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, April 16th. Cantor Fitzgerald started coverage on Slack in a research note on Sunday, April 19th. They issued an “overweight” rating for the company. MKM Partners reduced their price objective on Slack from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Friday, March 13th. DA Davidson raised their price objective on Slack from $20.00 to $29.00 and gave the stock a “neutral” rating in a research note on Friday, March 27th. Finally, Barclays reduced their price objective on Slack from $31.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, March 13th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $29.35.

Shares of WORK opened at $31.71 on Friday. Slack has a 12 month low of $15.10 and a 12 month high of $42.00. The stock’s 50 day moving average is $27.56 and its two-hundred day moving average is $24.23. The firm has a market cap of $17.51 billion and a P/E ratio of -20.33.

Slack (NYSE:WORK) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. Slack had a negative return on equity of 138.05% and a negative net margin of 90.58%. The company had revenue of $181.90 million for the quarter, compared to analyst estimates of $174.24 million. Slack’s revenue was up 49.1% on a year-over-year basis. On average, analysts anticipate that Slack will post -0.61 earnings per share for the current fiscal year.

In other news, Director John Ofarrell sold 42,990 shares of Slack stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $18.77, for a total value of $806,922.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Cal Henderson sold 1,500 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $27.79, for a total value of $41,685.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,771,999 shares of company stock worth $42,848,500. 26.82% of the stock is owned by corporate insiders.

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.

Recommended Story: What Are Cryptocurrencies?

Want to see what other hedge funds are holding WORK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Slack (NYSE:WORK).

Institutional Ownership by Quarter for Slack (NYSE:WORK)

Receive News & Ratings for Slack Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Slack and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Northwestern Mutual Investment Management Company LLC Acquires 2,288 Shares of Campbell Soup
Northwestern Mutual Investment Management Company LLC Acquires 2,288 Shares of Campbell Soup
Russell Investments Group Ltd. Sells 6,143 Shares of AlarmCom Hldg Inc
Russell Investments Group Ltd. Sells 6,143 Shares of AlarmCom Hldg Inc
Northwestern Mutual Investment Management Company LLC Has $414,000 Position in Universal Health Services, Inc.
Northwestern Mutual Investment Management Company LLC Has $414,000 Position in Universal Health Services, Inc.
Northwestern Mutual Wealth Management Co. Sells 672 Shares of Gartner Inc
Northwestern Mutual Wealth Management Co. Sells 672 Shares of Gartner Inc
NRG Energy Inc  Shares Bought by Commerce Bank
NRG Energy Inc Shares Bought by Commerce Bank
Sunrun Inc  Shares Bought by Rhumbline Advisers
Sunrun Inc Shares Bought by Rhumbline Advisers


© 2006-2020 Ticker Report