BNP Paribas Arbitrage SA increased its position in Slack (NYSE:WORK) by 223.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,757 shares of the company’s stock after purchasing an additional 44,066 shares during the period. BNP Paribas Arbitrage SA’s holdings in Slack were worth $1,711,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC bought a new position in Slack in the 4th quarter worth about $27,000. Duncker Streett & Co. Inc. bought a new position in Slack during the 1st quarter valued at about $27,000. Trustcore Financial Services LLC lifted its stake in Slack by 86.2% during the 1st quarter. Trustcore Financial Services LLC now owns 1,037 shares of the company’s stock valued at $28,000 after acquiring an additional 480 shares during the period. PSI Advisors LLC bought a new position in Slack during the 4th quarter valued at about $32,000. Finally, Altshuler Shaham Ltd bought a new position in Slack during the 4th quarter valued at about $37,000. Institutional investors own 51.91% of the company’s stock.
Slack stock opened at $30.34 on Friday. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 0.74. Slack has a 12-month low of $15.10 and a 12-month high of $42.00. The firm has a 50 day moving average of $30.77 and a 200 day moving average of $25.47. The firm has a market capitalization of $18.13 billion and a price-to-earnings ratio of -21.22.
Slack (NYSE:WORK) last announced its quarterly earnings data on Thursday, June 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.12. Slack had a negative net margin of 87.91% and a negative return on equity of 79.21%. The business had revenue of $201.65 million during the quarter, compared to analyst estimates of $188.12 million. Slack’s revenue for the quarter was up 49.6% on a year-over-year basis. On average, analysts predict that Slack will post -0.61 EPS for the current year.
Several research firms have issued reports on WORK. Morgan Stanley upped their target price on shares of Slack from $25.00 to $29.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. Oppenheimer restated a “hold” rating on shares of Slack in a research note on Friday, June 5th. Cowen began coverage on shares of Slack in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $45.00 target price on the stock. Robert W. Baird upped their target price on shares of Slack from $24.00 to $36.00 and gave the company an “outperform” rating in a research note on Wednesday, May 27th. Finally, Barclays upped their target price on shares of Slack from $23.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $34.00.
In other Slack news, CTO Cal Henderson sold 1,500 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $30.00, for a total transaction of $45,000.00. Following the completion of the sale, the chief technology officer now directly owns 44,972 shares of the company’s stock, valued at approximately $1,349,160. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrew Braccia sold 50,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $31.50, for a total transaction of $1,575,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,175,498 shares of company stock valued at $58,051,238. Insiders own 26.82% of the company’s stock.
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.
Featured Article: No Load Funds
Want to see what other hedge funds are holding WORK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Slack (NYSE:WORK).
Receive News & Ratings for Slack Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Slack and related companies with MarketBeat.com's FREE daily email newsletter.