Slack (NYSE:WORK) Major Shareholder Sells $1,460,733.68 in Stock
Slack (NYSE:WORK) major shareholder Marc L. Andreessen sold 60,536 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $24.13, for a total transaction of $1,460,733.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
NYSE WORK traded down $0.05 during trading hours on Friday, reaching $23.12. 5,633,800 shares of the company were exchanged, compared to its average volume of 9,356,421. Slack has a 1 year low of $19.53 and a 1 year high of $42.00. The business’s 50 day simple moving average is $22.07 and its 200-day simple moving average is $26.42.
Slack (NYSE:WORK) last posted its quarterly earnings data on Wednesday, December 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $168.70 million during the quarter, compared to the consensus estimate of $156.14 million. The business’s revenue for the quarter was up 59.8% compared to the same quarter last year. As a group, analysts forecast that Slack will post -0.33 EPS for the current fiscal year.
WORK has been the subject of several analyst reports. William Blair reiterated a “buy” rating on shares of Slack in a report on Wednesday, November 20th. Morgan Stanley lowered their target price on shares of Slack from $38.00 to $28.00 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. Barclays reiterated a “buy” rating and issued a $31.00 target price on shares of Slack in a report on Sunday, November 3rd. Robert W. Baird increased their target price on shares of Slack to $31.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Finally, Monness Crespi & Hardt initiated coverage on shares of Slack in a report on Thursday, December 5th. They issued a “buy” rating and a $41.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Slack presently has a consensus rating of “Buy” and an average price target of $31.05.
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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