Slack Technologies, Inc. (NYSE:WORK) Shares Purchased by UBS Asset Management Americas Inc.


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UBS Asset Management Americas Inc. increased its holdings in Slack Technologies, Inc. (NYSE:WORK) by 145.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,934,122 shares of the company’s stock after buying an additional 1,740,707 shares during the quarter. UBS Asset Management Americas Inc. owned about 0.51% of Slack Technologies worth $123,937,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of WORK. Meeder Asset Management Inc. raised its position in shares of Slack Technologies by 868.0% in the fourth quarter. Meeder Asset Management Inc. now owns 726 shares of the company’s stock worth $31,000 after acquiring an additional 651 shares during the period. Alpha DNA Investment Management LLC acquired a new position in Slack Technologies in the 4th quarter worth about $31,000. BNC Wealth Management LLC purchased a new position in Slack Technologies during the third quarter worth approximately $33,000. Clearview Wealth Advisors LLC acquired a new stake in Slack Technologies in the fourth quarter valued at approximately $38,000. Finally, Avion Wealth purchased a new stake in shares of Slack Technologies in the fourth quarter valued at approximately $40,000. 65.92% of the stock is owned by institutional investors.

In other Slack Technologies news, CFO Allen Shim sold 1,925 shares of the business’s stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $41.20, for a total transaction of $79,310.00. Following the transaction, the chief financial officer now owns 252,007 shares in the company, valued at approximately $10,382,688.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Brandon Zell sold 4,173 shares of the stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $41.20, for a total value of $171,927.60. Following the completion of the transaction, the chief accounting officer now owns 189,527 shares of the company’s stock, valued at approximately $7,808,512.40. The disclosure for this sale can be found here. Insiders have sold 170,624 shares of company stock worth $7,030,232 in the last quarter. Insiders own 26.82% of the company’s stock.

A number of research firms recently issued reports on WORK. Morgan Stanley raised shares of Slack Technologies from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $27.00 to $44.00 in a research note on Wednesday, December 9th. DA Davidson dropped their target price on shares of Slack Technologies from $46.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, March 5th. Finally, Zacks Investment Research downgraded shares of Slack Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, March 6th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $41.16.

NYSE:WORK opened at $41.50 on Thursday. Slack Technologies, Inc. has a 52 week low of $23.35 and a 52 week high of $44.57. The stock’s fifty day moving average is $41.19 and its two-hundred day moving average is $37.38. The stock has a market capitalization of $23.91 billion, a price-to-earnings ratio of -71.55 and a beta of -0.02. 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 (NYSE:WORK) last issued its quarterly earnings results on Thursday, March 4th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.02. The company had revenue of $250.60 million for the quarter, compared to analyst estimates of $240.31 million. Slack Technologies had a negative net margin of 42.73% and a negative return on equity of 39.14%. The business’s revenue for the quarter was up 37.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) earnings per share. On average, sell-side analysts expect that Slack Technologies, Inc. will post -0.55 EPS for the current fiscal 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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Institutional Ownership by Quarter for Slack Technologies (NYSE:WORK)

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