Elo Mutual Pension Insurance Co Grows Stock Holdings in Slack Technologies, Inc. (NYSE:WORK)

Elo Mutual Pension Insurance Co grew its holdings in Slack Technologies, Inc. (NYSE:WORK) by 19.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,112 shares of the company’s stock after purchasing an additional 5,431 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Slack Technologies were worth $1,345,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its stake in Slack Technologies by 868.0% in the 4th quarter. Meeder Asset Management Inc. now owns 726 shares of the company’s stock worth $31,000 after purchasing an additional 651 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new position in Slack Technologies in the 4th quarter worth approximately $31,000. Arkadios Wealth Advisors lifted its stake in Slack Technologies by 42.9% in the 4th quarter. Arkadios Wealth Advisors now owns 1,000 shares of the company’s stock worth $42,000 after purchasing an additional 300 shares in the last quarter. Phoenix Wealth Advisors purchased a new position in Slack Technologies in the 4th quarter worth approximately $45,000. Finally, Oder Investment Management LLC purchased a new position in Slack Technologies in the 4th quarter worth approximately $50,000. 65.16% of the stock is currently owned by institutional investors and hedge funds.

Slack Technologies stock opened at $44.46 on Friday. Slack Technologies, Inc. has a fifty-two week low of $24.09 and a fifty-two week high of $44.67. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.14 and a quick ratio of 3.14. The firm has a 50 day moving average of $42.37. The firm has a market cap of $25.62 billion, a P/E ratio of -85.50 and a beta of 0.97.

Slack Technologies (NYSE:WORK) last posted its earnings results on Wednesday, June 2nd. The company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.09. The firm had revenue of $273.40 million during the quarter, compared to the consensus estimate of $264.98 million. Slack Technologies had a negative net margin of 33.28% and a negative return on equity of 30.26%. The firm’s revenue for the quarter was up 35.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.02) EPS. As a group, research analysts predict that Slack Technologies, Inc. will post -0.4 earnings per share for the current year.

A number of research analysts have weighed in on the stock. DA Davidson decreased 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 note on Friday, March 5th. Zacks Investment Research lowered shares of Slack Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 5th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company. Slack Technologies presently has an average rating of “Hold” and a consensus target price of $41.06.

In other Slack Technologies news, CEO Stewart Butterfield sold 250,000 shares of the business’s stock in a transaction on Thursday, April 15th. The shares were sold at an average price of $42.06, for a total value of $10,515,000.00. Following the completion of the transaction, the chief executive officer now owns 973,670 shares in the company, valued at $40,952,560.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Robert Frati sold 2,725 shares of the business’s stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $41.20, for a total transaction of $112,270.00. Following the completion of the transaction, the senior vice president now owns 303,357 shares of the company’s stock, valued at approximately $12,498,308.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 497,029 shares of company stock valued at $20,771,815. Insiders own 26.82% of the company’s stock.

Slack Technologies 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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Institutional Ownership by Quarter for Slack Technologies (NYSE:WORK)

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