Mountain Capital Investment Advisors Inc Invests $960,000 in Slack Technologies, Inc. (NYSE:WORK)


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Mountain Capital Investment Advisors Inc bought a new position in shares of Slack Technologies, Inc. (NYSE:WORK) during the 4th quarter, HoldingsChannel reports. The fund bought 22,726 shares of the company’s stock, valued at approximately $960,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WORK. Prudential Financial Inc. acquired a new stake in shares of Slack Technologies during the 2nd quarter worth $390,000. Private Advisor Group LLC grew its holdings in shares of Slack Technologies by 163.1% during the 2nd quarter. Private Advisor Group LLC now owns 58,395 shares of the company’s stock worth $1,815,000 after purchasing an additional 36,199 shares in the last quarter. Sei Investments Co. acquired a new stake in Slack Technologies in the second quarter valued at about $4,658,000. Public Employees Retirement System of Ohio acquired a new stake in Slack Technologies in the second quarter valued at about $4,351,000. Finally, Great West Life Assurance Co. Can boosted its stake in Slack Technologies by 1,096.5% in the second quarter. Great West Life Assurance Co. Can now owns 216,847 shares of the company’s stock valued at $6,721,000 after buying an additional 198,723 shares in the last quarter. 65.92% of the stock is currently owned by institutional investors.

Shares of WORK opened at $42.29 on Thursday. Slack Technologies, Inc. has a 1 year low of $15.10 and a 1 year high of $44.15. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.29 and a quick ratio of 3.29. The company has a market capitalization of $24.37 billion, a price-to-earnings ratio of -72.91 and a beta of -0.02. The business has a 50-day moving average of $42.28 and a 200-day moving average of $32.35.

Slack Technologies (NYSE:WORK) last issued its quarterly earnings data on Monday, November 30th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.05. Slack Technologies had a negative return on equity of 39.14% and a negative net margin of 42.73%. The company had revenue of $234.50 million during the quarter, compared to the consensus estimate of $223.48 million. As a group, sell-side analysts anticipate that Slack Technologies, Inc. will post -0.55 EPS for the current year.

In other Slack Technologies news, CAO Brandon Zell sold 7,500 shares of Slack Technologies stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $25.17, for a total value of $188,775.00. Also, insider Tamar Yehoshua sold 49,288 shares of Slack Technologies stock in a transaction that occurred on Monday, January 4th. The stock was sold at an average price of $41.99, for a total value of $2,069,603.12. Following the completion of the sale, the insider now owns 172,969 shares of the company’s stock, valued at $7,262,968.31. The disclosure for this sale can be found here. Insiders have sold 1,007,792 shares of company stock valued at $39,327,296 over the last 90 days. 26.82% of the stock is owned by corporate insiders.

Several research firms recently weighed in on WORK. Morgan Stanley raised Slack Technologies from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $27.00 to $44.00 in a research note on Wednesday, December 9th. DA Davidson raised their price objective on Slack Technologies from $24.00 to $46.00 and gave the company a “neutral” rating in a research note on Wednesday, December 2nd. BidaskClub lowered Slack Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, January 7th. Stephens lowered Slack Technologies from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $37.00 to $45.00 in a research note on Wednesday, December 2nd. Finally, Credit Suisse Group raised their price objective on Slack Technologies from $30.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, December 2nd. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and five have given a buy rating to the company’s stock. Slack Technologies presently has a consensus rating of “Hold” and an average price target of $40.95.

About Slack Technologies

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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