Neuburgh Advisers LLC Takes Position in Slack (NASDAQ:WORK)

Neuburgh Advisers LLC purchased a new stake in shares of Slack (NASDAQ:WORK) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 924 shares of the company’s stock, valued at approximately $35,000.

Other hedge funds also recently bought and sold shares of the company. Sterling Investment Advisors Ltd. bought a new position in shares of Slack in the second quarter worth approximately $28,000. Gables Capital Management Inc. bought a new position in shares of Slack in the second quarter worth approximately $38,000. Winslow Evans & Crocker Inc. bought a new position in shares of Slack in the second quarter worth approximately $38,000. Flagship Harbor Advisors LLC bought a new position in shares of Slack in the second quarter worth approximately $41,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new position in shares of Slack in the second quarter worth approximately $75,000.

Several research firms recently weighed in on WORK. Zacks Investment Research cut shares of Slack from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Citigroup decreased their price objective on shares of Slack from $39.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. KeyCorp set a $44.00 price objective on shares of Slack and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Barclays decreased their price objective on shares of Slack from $45.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, September 5th. Finally, Sanford C. Bernstein started coverage on shares of Slack in a research report on Wednesday, August 14th. They issued a “market perform” rating and a $31.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $36.75.

In other news, CEO Stewart Butterfield sold 1,360,909 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $39.07, for a total transaction of $53,170,714.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Parallel Fund Iv-A L.P. Ah sold 3,000,000 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $38.66, for a total value of $115,980,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,135,654 shares of company stock valued at $274,353,811.

NASDAQ WORK traded down $0.34 on Friday, reaching $25.28. 128,374 shares of the company’s stock traded hands, compared to its average volume of 7,600,375. Slack has a 12 month low of $23.93 and a 12 month high of $42.00. The stock has a 50-day moving average price of $30.37.

Slack (NASDAQ:WORK) last released its quarterly earnings data on Monday, June 10th. The company reported ($0.26) earnings per share for the quarter. The firm had revenue of $134.82 million during the quarter.

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Institutional Ownership by Quarter for Slack (NASDAQ:WORK)

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