Nissay Asset Management Corp Japan ADV increased its stake in Slack Technologies, Inc. (NYSE:WORK) by 13.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,533 shares of the company’s stock after acquiring an additional 5,118 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Slack Technologies were worth $1,809,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of WORK. Victory Capital Management Inc. boosted its holdings in shares of Slack Technologies by 0.9% in the fourth quarter. Victory Capital Management Inc. now owns 127,670 shares of the company’s stock valued at $5,393,000 after acquiring an additional 1,097 shares in the last quarter. California Public Employees Retirement System lifted its stake in Slack Technologies by 5.1% during the fourth quarter. California Public Employees Retirement System now owns 839,868 shares of the company’s stock valued at $35,476,000 after purchasing an additional 40,541 shares during the last quarter. CIBC Asset Management Inc acquired a new stake in Slack Technologies during the fourth quarter valued at approximately $303,000. State of Wisconsin Investment Board lifted its stake in Slack Technologies by 39.2% during the fourth quarter. State of Wisconsin Investment Board now owns 460,365 shares of the company’s stock valued at $19,446,000 after purchasing an additional 129,625 shares during the last quarter. Finally, National Asset Management Inc. lifted its stake in Slack Technologies by 15.2% during the fourth quarter. National Asset Management Inc. now owns 28,363 shares of the company’s stock valued at $1,199,000 after purchasing an additional 3,748 shares during the last quarter. Institutional investors and hedge funds own 65.16% of the company’s stock.
In related news, insider Tamar Yehoshua sold 49,082 shares of the firm’s stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $41.20, for a total value of $2,022,178.40. Following the transaction, the insider now directly owns 221,153 shares in the company, valued at approximately $9,111,503.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert Frati sold 2,725 shares of the firm’s stock in a transaction on Thursday, April 1st. The shares were 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 in the company, valued at $12,498,308.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 497,029 shares of company stock worth $20,771,815. 26.82% of the stock is currently owned by company insiders.
Slack Technologies (NYSE:WORK) last announced its quarterly earnings results on Wednesday, June 2nd. The company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.09. Slack Technologies had a negative net margin of 33.28% and a negative return on equity of 30.26%. The company had revenue of $273.40 million for the quarter, compared to analyst estimates of $264.98 million. During the same quarter in the prior year, the business posted ($0.02) EPS. Slack Technologies’s quarterly revenue was up 35.5% on a year-over-year basis. Research analysts anticipate that Slack Technologies, Inc. will post -0.4 EPS for the current year.
Several research firms recently commented on WORK. DA Davidson cut their target price on shares of Slack Technologies from $46.00 to $40.00 and set a “neutral” rating for the company in a research note on Friday, March 5th. Zacks Investment Research downgraded shares of Slack Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, May 5th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $41.06.
About Slack Technologies
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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