Slack (NYSE:WORK) CTO Sells $45,000.00 in Stock

Slack (NYSE:WORK) CTO Cal Henderson sold 1,500 shares of Slack stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $30.00, for a total transaction of $45,000.00. Following the completion of the sale, the chief technology officer now directly owns 42,061 shares of the company’s stock, valued at $1,261,830. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Cal Henderson also recently made the following trade(s):

  • On Tuesday, September 8th, Cal Henderson sold 1,500 shares of Slack stock. The stock was sold at an average price of $30.01, for a total transaction of $45,015.00.
  • On Friday, September 4th, Cal Henderson sold 1,500 shares of Slack stock. The stock was sold at an average price of $30.83, for a total transaction of $46,245.00.
  • On Wednesday, September 2nd, Cal Henderson sold 1,500 shares of Slack stock. The stock was sold at an average price of $33.75, for a total transaction of $50,625.00.
  • On Monday, August 31st, Cal Henderson sold 3,000 shares of Slack stock. The stock was sold at an average price of $32.05, for a total transaction of $96,150.00.
  • On Thursday, August 27th, Cal Henderson sold 3,000 shares of Slack stock. The stock was sold at an average price of $30.27, for a total transaction of $90,810.00.
  • On Friday, August 21st, Cal Henderson sold 3,000 shares of Slack stock. The stock was sold at an average price of $30.06, for a total transaction of $90,180.00.
  • On Wednesday, August 5th, Cal Henderson sold 1,500 shares of Slack stock. The stock was sold at an average price of $30.09, for a total transaction of $45,135.00.
  • On Friday, July 24th, Cal Henderson sold 20 shares of Slack stock. The shares were sold at an average price of $30.00, for a total transaction of $600.00.
  • On Wednesday, July 22nd, Cal Henderson sold 1,500 shares of Slack stock. The shares were sold at an average price of $31.58, for a total transaction of $47,370.00.
  • On Monday, July 20th, Cal Henderson sold 1,500 shares of Slack stock. The shares were sold at an average price of $33.02, for a total transaction of $49,530.00.

WORK stock traded up $1.01 during trading on Friday, reaching $31.00. The stock had a trading volume of 14,829,540 shares, compared to its average volume of 16,375,994. Slack has a 1-year low of $15.10 and a 1-year high of $40.07. The company has a current ratio of 3.29, a quick ratio of 3.29 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $17.69 billion, a P/E ratio of -53.45 and a beta of -0.21. The firm has a fifty day moving average price of $28.22 and a 200 day moving average price of $29.47.

Slack (NYSE:WORK) last issued its quarterly earnings data on Tuesday, September 8th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.03. Slack had a negative net margin of 42.73% and a negative return on equity of 39.14%. The firm had revenue of $215.90 million for the quarter, compared to analyst estimates of $209.22 million. During the same quarter in the previous year, the business posted ($0.14) EPS. The firm’s revenue was up 48.9% compared to the same quarter last year. Sell-side analysts predict that Slack will post -0.55 EPS for the current year.

Hedge funds have recently modified their holdings of the business. Morgan Stanley increased its position in shares of Slack by 61.1% in the 1st quarter. Morgan Stanley now owns 57,901,739 shares of the company’s stock worth $1,554,083,000 after purchasing an additional 21,959,800 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Slack by 82.8% in the 2nd quarter. Vanguard Group Inc. now owns 32,490,216 shares of the company’s stock worth $1,010,121,000 after purchasing an additional 14,718,317 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Slack by 16.9% in the 1st quarter. Wellington Management Group LLP now owns 31,474,971 shares of the company’s stock worth $844,789,000 after purchasing an additional 4,556,329 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of Slack by 63.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 9,801,142 shares of the company’s stock valued at $304,717,000 after buying an additional 3,802,087 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Slack by 1.6% during the 2nd quarter. Principal Financial Group Inc. now owns 4,663,424 shares of the company’s stock valued at $144,986,000 after buying an additional 72,240 shares during the last quarter. Hedge funds and other institutional investors own 65.92% of the company’s stock.

Several analysts have recently issued reports on the stock. Oppenheimer reissued a “hold” rating on shares of Slack in a research note on Wednesday, September 9th. Canaccord Genuity lowered their price objective on shares of Slack from $38.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, September 9th. Wolfe Research assumed coverage on shares of Slack in a research note on Friday, July 24th. They set a “peer perform” rating and a $32.00 price objective for the company. Royal Bank of Canada lowered their price objective on shares of Slack from $38.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, September 9th. Finally, Mizuho reduced their target price on shares of Slack from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, September 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $32.00.

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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