Slack (NASDAQ:WORK) Receives New Coverage from Analysts at Mizuho
Mizuho initiated coverage on shares of Slack (NASDAQ:WORK) in a report issued on Thursday, 24/7 WallStreet reports. The brokerage issued a neutral rating and a $26.00 price target on the stock.
Other research analysts have also recently issued research reports about the stock. William Blair assumed coverage on shares of Slack in a research report on Monday, July 15th. They set an outperform rating on the stock. Atlantic Securities assumed coverage on shares of Slack in a research report on Wednesday, June 19th. They set an overweight rating and a $37.00 price target on the stock. Goldman Sachs Group set a $34.00 price target on shares of Slack and gave the company a hold rating in a research report on Thursday, September 5th. Stephens assumed coverage on shares of Slack in a research report on Thursday, July 11th. They set an overweight rating and a $43.00 price target on the stock. Finally, DA Davidson boosted their price objective on shares of Slack to $31.00 and gave the company an average rating in a report on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. Slack currently has an average rating of Hold and a consensus price target of $36.75.
WORK traded down $0.53 on Thursday, hitting $25.09. 145,613 shares of the company’s stock were exchanged, compared to its average volume of 7,600,375. The firm’s 50-day simple moving average is $30.37. Slack has a fifty-two week low of $23.93 and a fifty-two week high of $42.00.
In related news, major shareholder Parallel Fund Iv-A L.P. Ah sold 3,000,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $38.66, for a total value of $115,980,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stewart Butterfield sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $25.11, for a total value of $62,775.00. Insiders have sold 7,135,654 shares of company stock worth $274,353,811 over the last 90 days.
Institutional investors and hedge funds have recently made changes to their positions in the stock. D L Carlson Investment Group Inc. acquired a new stake in shares of Slack in the second quarter valued at approximately $2,209,000. Griffin Asset Management Inc. acquired a new position in Slack in the 2nd quarter valued at approximately $37,000. Greylock Xii GP LLC acquired a new position in Slack in the 2nd quarter valued at approximately $2,494,000. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Slack in the 2nd quarter valued at approximately $3,074,000. Finally, KCL Capital L.P. acquired a new position in Slack in the 2nd quarter valued at approximately $8,063,000.
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