Millennium Management LLC lowered its position in Slack Technologies, Inc. (NYSE:WORK) by 16.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,441,880 shares of the company’s stock after selling 1,277,384 shares during the period. Slack Technologies comprises approximately 0.2% of Millennium Management LLC’s investment portfolio, making the stock its 6th biggest position. Millennium Management LLC owned approximately 1.12% of Slack Technologies worth $261,734,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Ameritas Investment Company LLC acquired a new position in shares of Slack Technologies during the 1st quarter worth about $25,000. PARK CIRCLE Co acquired a new position in shares of Slack Technologies during the 1st quarter worth about $28,000. Alpha DNA Investment Management LLC acquired a new position in shares of Slack Technologies during the 4th quarter worth about $31,000. Harbour Investments Inc. acquired a new position in shares of Slack Technologies during the 1st quarter worth about $33,000. Finally, Concord Wealth Partners raised its position in shares of Slack Technologies by 881.1% during the 1st quarter. Concord Wealth Partners now owns 883 shares of the company’s stock worth $36,000 after purchasing an additional 793 shares during the last quarter. Institutional investors and hedge funds own 64.13% of the company’s stock.
In other news, CEO Stewart Butterfield sold 109,290 shares of the firm’s stock in a transaction on Thursday, July 1st. The shares were sold at an average price of $44.26, for a total value of $4,837,175.40. Following the sale, the chief executive officer now directly owns 1,202,471 shares in the company, valued at approximately $53,221,366.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Robert Frati sold 2,726 shares of the firm’s stock in a transaction on Thursday, July 1st. The shares were sold at an average price of $44.29, for a total transaction of $120,734.54. Following the completion of the sale, the senior vice president now owns 311,483 shares in the company, valued at $13,795,582.07. The disclosure for this sale can be found here. Insiders have sold a total of 167,860 shares of company stock valued at $7,431,241 in the last ninety days. 26.82% of the stock is currently owned by corporate insiders.
Shares of NYSE:WORK remained flat at $$45.20 during mid-day trading on Thursday. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 0.75. The company has a 50 day moving average price of $43.88. Slack Technologies, Inc. has a one year low of $24.09 and a one year high of $45.64.
Slack Technologies (NYSE:WORK) last posted its quarterly earnings data on Wednesday, June 2nd. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.09. The firm had revenue of $273.40 million during the quarter, compared to analysts’ expectations of $264.98 million. Slack Technologies had a negative net margin of 25.98% and a negative return on equity of 23.43%. The firm’s quarterly revenue was up 35.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.02) EPS. On average, sell-side analysts anticipate that Slack Technologies, Inc. will post -0.27 earnings per share for the current year.
Slack Technologies 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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