Slack Technologies Inc. (WORK) – Don’t Believe the Hype: Check The Facts

682 institutions hold shares in Slack Technologies Inc. (WORK), with 7.22M shares held by insiders accounting for 1.25% while institutional investors hold 86.82% of the company’s shares. The shares outstanding are 570.37M, and float is at 488.11M with Short Float at 8.18%. Institutions hold 85.73% of the Float.


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The top institutional shareholder in the company is Morgan Stanley with over 65.86 million shares valued at $1.77 billion. The investor’s holdings represent 13.13% of the WORK Shares outstanding. As of Sep 29, 2020, the second largest holder is Price (T.Rowe) Associates Inc with 62.0 million shares valued at $1.67 billion to account for 12.36% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 37.57 million shares representing 7.49% and valued at over $1.01 billion, while Blackrock Inc. holds 4.76% of the shares totaling 23.86 million with a market value of $1.01 billion.

Slack Technologies Inc. (NYSE: WORK) is 2.51% higher on its value in year-to-date trading and has touched a low of $15.10 and a high of $44.57 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The WORK stock was last observed hovering at around $43.24 in the last trading session, with the day’s gains setting it 0.06% off its average median price target of $45.00 for the next 12 months. It is also 5.87% off the consensus price target high of $46.00 offered by 21 analysts, but current levels are -44.33% lower than the price target low of $30.00 for the same period.

Currently trading at $43.30, the stock is 0.82% and 1.71% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.42 million and changing 0.14% at the moment leaves the stock 29.26% off its SMA200. WORK registered 57.51% gain for a year compared to 6-month gain of 51.56%. The firm has a 50-day simple moving average (SMA 50) of $42.65 and a 200-day simple moving average (SMA200) of $34.35.

The stock witnessed a 1.57% loss in the last 1 month and extending the period to 3 months gives it a 61.93%, and is -0.62% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.24% over the week and 1.21% over the month.

Slack Technologies Inc. (WORK) has around 2510 employees, a market worth around $25.10B and $833.90M in sales. Profit margin for the company is -36.90%. Distance from 52-week low is 186.75% and -2.85% from its 52-week high. The company has generated returns on investments over the last 12 months (-83.10%).

Slack Technologies Inc. (WORK) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Slack Technologies Inc. (WORK) is a “Hold”. 21 analysts offering their recommendations for the stock have an average rating of 2.90, where 20 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Slack Technologies Inc. is expected to release its quarterly report on 06/04/2021 and quarterly earnings per share for the current quarter are estimated at -$0.03 with sales reaching $239.41M over the same period.The EPS is expected to shrink by -296.60% this year, but quarterly earnings will post 40.60% year-over-year. Quarterly sales are estimated to grow 31.60% in year-over-year returns.

Slack Technologies Inc. (WORK) Insider Activity

A total of 140 insider transactions have happened at Slack Technologies Inc. (WORK) in the last six months, with sales accounting for 111 and purchases happening 29 times. The most recent transaction is an insider sale by Zell Brandon, the company’s Chief Accounting Officer. SEC filings show that Zell Brandon sold 3,501 shares of the company’s common stock on Feb 02 at a price of $42.70 per share for a total of $0.15 million. Following the sale, the insider now owns 0.17 million shares.

Slack Technologies Inc. disclosed in a document filed with the SEC on Feb 01 that Schellhase David (General Counsel and Secretary) sold a total of 3,323 shares of the company’s common stock. The trade occurred on Feb 01 and was made at $42.45 per share for $0.14 million. Following the transaction, the insider now directly holds 0.32 million shares of the WORK stock.

Still, SEC filings show that on Feb 01, Frati Robert (Sr VP Sales, Customer Success) disposed off 9,574 shares at an average price of $42.45 for $0.41 million. The insider now directly holds 306,082 shares of Slack Technologies Inc. (WORK).

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