Calamos Advisors LLC lessened its stake in shares of Slack (NYSE:WORK) by 15.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 659,883 shares of the company’s stock after selling 121,530 shares during the quarter. Calamos Advisors LLC owned 0.12% of Slack worth $14,834,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of WORK. Morgan Stanley purchased a new stake in shares of Slack during the second quarter worth about $766,211,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Slack during the second quarter worth about $390,768,000. Vanguard Group Inc. purchased a new stake in shares of Slack during the second quarter worth about $263,631,000. Viking Global Investors LP purchased a new stake in shares of Slack during the second quarter worth about $170,236,000. Finally, OZ Management LP purchased a new stake in shares of Slack during the second quarter worth about $82,920,000. Institutional investors own 33.39% of the company’s stock.
WORK has been the topic of a number of analyst reports. William Blair reaffirmed a “buy” rating on shares of Slack in a research report on Wednesday, November 20th. Piper Jaffray Companies began coverage on Slack in a report on Monday, October 28th. They issued an “overweight” rating and a $30.00 price objective for the company. Robert W. Baird boosted their price objective on Slack to $31.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Morgan Stanley lowered their price objective on Slack from $38.00 to $28.00 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. Finally, Credit Suisse Group lowered their price objective on Slack from $35.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $31.11.
In other news, major shareholder Marc L. Andreessen sold 60,536 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $24.13, for a total transaction of $1,460,733.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Cal Henderson sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $21.12, for a total value of $31,680.00. Insiders have sold 291,450 shares of company stock valued at $6,430,945 over the last ninety days.
NYSE:WORK opened at $22.33 on Thursday. The stock has a 50 day moving average of $22.23 and a 200-day moving average of $26.12. Slack has a 52 week low of $19.53 and a 52 week high of $42.00.
Slack (NYSE:WORK) last posted its earnings results on Wednesday, December 4th. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.07. The company had revenue of $168.70 million during the quarter, compared to analyst estimates of $156.14 million. Slack had a negative return on equity of 554.57% and a negative net margin of 90.86%. The firm’s revenue for the quarter was up 59.8% compared to the same quarter last year. Equities research analysts anticipate that Slack will post -0.33 EPS for the current year.
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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