Sheaff Brock Investment Advisors LLC Makes New Investment in Slack (NASDAQ:WORK)

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Sheaff Brock Investment Advisors LLC bought a new position in Slack (NASDAQ:WORK) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,700 shares of the company’s stock, valued at approximately $326,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Treasurer State of Michigan acquired a new stake in shares of Slack during the second quarter worth $4,526,000. Avitas Wealth Management LLC acquired a new stake in shares of Slack during the second quarter worth $1,566,000. Creative Planning bought a new position in Slack in the second quarter valued at $1,475,000. Bessemer Group Inc. bought a new position in Slack in the second quarter valued at $1,358,000. Finally, Commonwealth Equity Services LLC bought a new position in Slack in the second quarter valued at $1,083,000.

Shares of Slack stock traded down $0.43 during trading on Thursday, reaching $30.33. 149,732 shares of the company traded hands, compared to its average volume of 6,884,722. Slack has a 1-year low of $29.10 and a 1-year high of $42.00. The company has a 50 day moving average price of $33.54.

In related news, SVP Robert Frati sold 376,238 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $38.30, for a total transaction of $14,409,915.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Stewart Butterfield sold 1,360,909 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $39.07, for a total transaction of $53,170,714.63. The disclosure for this sale can be found here. Insiders have sold a total of 6,936,311 shares of company stock worth $268,197,602 in the last quarter.

WORK has been the subject of a number of analyst reports. Robert W. Baird began coverage on shares of Slack in a research report on Tuesday, June 25th. They issued an “outperform” rating and a $44.00 price objective for the company. Canaccord Genuity started coverage on shares of Slack in a research note on Monday, July 15th. They issued a “buy” rating and a $40.00 price objective for the company. KeyCorp started coverage on shares of Slack in a research report on Tuesday, July 16th. They issued an “overweight” rating and a $44.00 target price for the company. Oppenheimer started coverage on shares of Slack in a research report on Tuesday, July 9th. They issued a “market perform” rating and a $35.00 target price for the company. Finally, William Blair started coverage on shares of Slack in a research report on Monday, July 15th. They issued an “outperform” rating for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $38.18.

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Institutional Ownership by Quarter for Slack (NASDAQ:WORK)

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