Slack Technologies, Inc. (NYSE:WORK) Shares Sold by Evolution Wealth Advisors LLC
Evolution Wealth Advisors LLC lowered its holdings in shares of Slack Technologies, Inc. (NYSE:WORK) by 59.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,000 shares of the company’s stock after selling 2,970 shares during the period. Evolution Wealth Advisors LLC’s holdings in Slack Technologies were worth $54,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. First PREMIER Bank acquired a new position in shares of Slack Technologies during the third quarter worth $27,000. Fifth Third Bancorp acquired a new position in shares of Slack Technologies during the second quarter worth $31,000. Synovus Financial Corp lifted its position in shares of Slack Technologies by 284.7% during the second quarter. Synovus Financial Corp now owns 1,354 shares of the company’s stock worth $41,000 after purchasing an additional 1,002 shares in the last quarter. Manchester Financial Inc. acquired a new position in shares of Slack Technologies during the second quarter worth $48,000. Finally, Ameritas Investment Company LLC acquired a new position in shares of Slack Technologies during the first quarter worth $50,000. Institutional investors own 65.92% of the company’s stock.
Shares of WORK opened at $32.25 on Friday. The firm has a 50-day moving average price of $28.58 and a 200 day moving average price of $29.69. The firm has a market capitalization of $18.40 billion, a PE ratio of -55.60 and a beta of -0.21. The company has a quick ratio of 3.29, a current ratio of 3.29 and a debt-to-equity ratio of 0.73. Slack Technologies, Inc. has a 52-week low of $15.10 and a 52-week high of $40.07.
In related news, insider Tamar Yehoshua sold 49,083 shares of Slack Technologies stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $27.35, for a total value of $1,342,420.05. Following the completion of the transaction, the insider now directly owns 132,806 shares of the company’s stock, valued at $3,632,244.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Brandon Zell sold 3,999 shares of Slack Technologies stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $29.96, for a total value of $119,810.04. Following the completion of the transaction, the chief accounting officer now directly owns 164,147 shares of the company’s stock, valued at $4,917,844.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 445,853 shares of company stock valued at $13,219,001. Company insiders own 26.82% of the company’s stock.
A number of research analysts have recently commented on the stock. FBN Securities began coverage on shares of Slack Technologies in a research report on Friday, July 17th. They set an “outperform” rating and a $45.00 target price on the stock. Zacks Investment Research raised shares of Slack Technologies from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Thursday, August 6th. Mizuho cut their price target on shares of Slack Technologies from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Wednesday, September 9th. DA Davidson cut their price target on shares of Slack Technologies from $32.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday, September 9th. Finally, Morgan Stanley dropped their target price on shares of Slack Technologies from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $32.33.
Slack Technologies 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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