Slack (NYSE:WORK) CEO Stewart Butterfield Sells 2,500 Shares

Slack (NYSE:WORK) CEO Stewart Butterfield sold 2,500 shares of Slack stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $21.93, for a total value of $54,825.00. Following the transaction, the chief executive officer now owns 192,447 shares of the company’s stock, valued at $4,220,362.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Stewart Butterfield also recently made the following trade(s):

  • On Friday, November 29th, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $22.89, for a total value of $57,225.00.
  • On Wednesday, November 27th, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $22.47, for a total value of $56,175.00.
  • On Monday, November 25th, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $22.11, for a total value of $55,275.00.
  • On Friday, November 22nd, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $21.16, for a total value of $52,900.00.
  • On Wednesday, November 20th, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $21.49, for a total value of $53,725.00.
  • On Monday, November 18th, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $23.10, for a total value of $57,750.00.
  • On Thursday, November 14th, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $21.33, for a total value of $53,325.00.
  • On Tuesday, November 12th, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $20.37, for a total value of $50,925.00.
  • On Wednesday, November 6th, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $20.50, for a total value of $51,250.00.
  • On Friday, November 1st, Stewart Butterfield sold 2,500 shares of Slack stock. The shares were sold at an average price of $20.75, for a total value of $51,875.00.

Shares of NYSE:WORK traded down $0.91 during trading on Wednesday, reaching $21.66. The stock had a trading volume of 16,227,053 shares, compared to its average volume of 8,219,059. The stock has a fifty day moving average of $21.85. Slack has a 1-year low of $19.53 and a 1-year high of $42.00.

Slack (NYSE:WORK) last issued its quarterly earnings results on Wednesday, September 4th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.03) by $0.05. The firm had revenue of $144.97 million during the quarter, compared to analyst estimates of $140.60 million. On average, analysts forecast that Slack will post -0.43 earnings per share for the current year.

Several research analysts recently weighed in on the company. MKM Partners reduced their price target on Slack from $38.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Sanford C. Bernstein began coverage on Slack in a research report on Wednesday, August 14th. They issued a “market perform” rating and a $31.00 price objective for the company. Monness Crespi & Hardt boosted their price objective on Slack from $39.00 to $41.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Goldman Sachs Group set a $34.00 price objective on Slack and gave the company a “hold” rating in a research report on Thursday, September 5th. Finally, Wedbush restated a “sell” rating and issued a $14.00 price objective on shares of Slack in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. Slack presently has a consensus rating of “Buy” and a consensus target price of $32.63.

Large investors have recently modified their holdings of the company. Meadow Creek Investment Management LLC acquired a new stake in shares of Slack in the second quarter worth approximately $25,000. Sterling Investment Advisors Ltd. acquired a new stake in shares of Slack in the second quarter worth approximately $28,000. Neuburgh Advisers LLC acquired a new stake in shares of Slack in the second quarter worth approximately $35,000. Gables Capital Management Inc. acquired a new stake in shares of Slack in the second quarter worth approximately $38,000. Finally, Griffin Asset Management Inc. acquired a new stake in shares of Slack in the second quarter worth approximately $37,000. 33.78% of the stock is currently owned by hedge funds and other institutional investors.

About Slack

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.

Further Reading: What is an economic bubble?

Insider Buying and Selling by Quarter 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.