Envestnet Asset Management Inc. Acquires New Position in Slack (NASDAQ:WORK)

Envestnet Asset Management Inc. acquired a new stake in Slack (NASDAQ:WORK) in the second quarter, according to the company in its most recent …

Slack logoEnvestnet Asset Management Inc. acquired a new stake in Slack (NASDAQ:WORK) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,981 shares of the company’s stock, valued at approximately $337,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in WORK. Gables Capital Management Inc. purchased a new stake in shares of Slack in the second quarter valued at about $38,000. Winslow Evans & Crocker Inc. acquired a new position in Slack in the second quarter valued at about $38,000. Flagship Harbor Advisors LLC acquired a new position in Slack in the second quarter valued at about $41,000. Advisor Group Inc. acquired a new position in Slack in the second quarter valued at about $198,000. Finally, Janney Montgomery Scott LLC acquired a new position in Slack in the second quarter valued at about $211,000.

A number of research analysts have commented on WORK shares. Canaccord Genuity started coverage on shares of Slack in a research report on Monday, July 15th. They issued a “buy” rating and a $40.00 target price on the stock. Credit Suisse Group reaffirmed a “neutral” rating and issued a $35.00 target price (down previously from $40.00) on shares of Slack in a research report on Thursday, September 5th. Citigroup decreased their target price 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. Mizuho started coverage on shares of Slack in a research report on Thursday. They issued a “neutral” rating and a $26.00 target price on the stock. Finally, Zacks Investment Research cut shares of Slack from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the stock. Slack presently has an average rating of “Hold” and an average price target of $36.75.

In other news, CAO Brandon Zell sold 4,850 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $30.08, for a total transaction of $145,888.00. Following the sale, the chief accounting officer now owns 173,140 shares of the company’s stock, valued at $5,208,051.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Allen Shim sold 502,925 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $38.59, for a total transaction of $19,407,875.75. The disclosure for this sale can be found here. Insiders have sold 7,135,654 shares of company stock worth $274,353,811 in the last three months.

Shares of WORK opened at $24.49 on Friday. Slack has a 1 year low of $23.93 and a 1 year high of $42.00. The stock’s 50-day simple moving average is $30.18.

Further Reading: Initial Coin Offering (ICO)

Institutional Ownership by Quarter for Slack (NASDAQ:WORK)

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MediaValet Selected by Leading Healthcare Provider

Vancouver, British Columbia–(Newsfile Corp. – September 12, 2019) – MediaValet Inc. (TSXV: MVP) (“MediaValet“, “the Company”), a leading provider …

Vancouver, British Columbia–(Newsfile Corp. – September 12, 2019) – MediaValet Inc. (TSXV: MVP) (“MediaValet”, “the Company”), a leading provider of cloud-based enterprise digital asset management (DAM) and creative operations software, is proud to announce that it was selected by a U.S. based regional leader in healthcare systems (the “Client”) with over 10,000 employees and a team of more than 20,000 specialist and primary care providers across hundreds of hospitals and medical offices. The $94,000 contract includes MediaValet’s best-in-class enterprise cloud-DAM, along with multiple integrations to third-party systems, such as Azure Active Directory, Sitecore and Adobe Creative Cloud.

Cannot view this image? Visit: https://media.zenfs.com/en-us/newsfile_64/9c66d35dc499fb3d5de7e9f5883fb4daCannot view this image? Visit: https://media.zenfs.com/en-us/newsfile_64/9c66d35dc499fb3d5de7e9f5883fb4da
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Figure 1

To view an enhanced version of Figure 1, please visit:

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The Client’s marketing and communications team launched a request for proposal (“RFP”) process to find a DAM provider that best fit their needs. Up until this point, the team had been using Microsoft’s OneDrive and SharePoint storage solutions to manage their marketing media process and lifecycle. Like many organizations who rely heavily on digital marketing to establish and maintain consistent brand messaging, and have a large number of stakeholders to manage across multiple locations, using file storage systems to manage their assets had become untenable, expensive and inefficient. After completing a competitive RFP process, the Client selected MediaValet based on a holistic assessment that covered security (HIPAA compliance and Active Directory integration), productivity (PowerPoint and Sitecore integrations), and facilitation of the creative process (via integration to Adobe Creative Cloud).

“We continue to win the trust of leading organizations around the world who have security as a critical requirement for their DAM solution,” commented David MacLaren, Founder and CEO of MediaValet. “From the beginning, we designed MediaValet from the ground up to address the security, privacy and reliability requirements of enterprise organizations. We’re pleased to be continually rewarded and recognized for this effort, especially from an industry-leading organization such as the Client.”

Continued MacLaren, “We actively market to organizations with a similar profile across various industries, as they’re able to fully leverage and benefit from the way we’ve architected MediaValet and the vision for the DAM we’re building towards. In turn, we truly become partners with our customers, allowing them to focus on their businesses and us on evolving a system that puts security, privacy and reliability first. So far this fiscal year, organizations with a high-security requirement represent 46% of our new customer business, and have generated 337% more new business, as compared to the same period last fiscal year. Organizations in the healthcare, financial, government and enterprise space continue to account for a larger component of our revenue base, furthering our position as one of the DAM industry’s top enterprise-grade solutions.”

About MediaValet Inc.

MediaValet stands at the forefront of the enterprise, cloud-based, digital asset management industry. Built exclusively on Microsoft Azure and available within 140 countries, across 54 Microsoft data center regions around the world, MediaValet delivers unparalleled enterprise-class security, reliability, redundancy and scalability while offering the largest global footprint of any DAM solution. In addition to providing all core enterprise DAM capabilities, local desktop-to-server support for creative teams, and overall cloud redundancy and management for all source, WIP and final assets, MediaValet offers industry leading integrations into Slack, Adobe Creative Suite, Microsoft Office 365, WorkFront, Wrike, Drupal 8, WordPress, Hootsuite and many other best-in-class 3rd party applications.

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Surf: www.mediavalet.com

For further information, please contact:

David MacLaren

Tel: (604) 688-2321

david.maclaren@mediavalet.com

Babak Pedram

Tel: (416) 644-5081

babak.pedram@mediavalet.com

“Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/47750

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Web Collaboration Software Market 2019: Company Profiles, Emerging Technologies, Trends …

Latest Report Available at Analytical Research Cognizance, “Web Collaboration Software Market” provides pin-point analysis for changing competitive …

Latest Report Available at Analytical Research Cognizance, “Web Collaboration Software Market” provides pin-point analysis for changing competitive dynamics and a forward looking perspective on different factors driving or restraining industry growth.

With the slowdown in world economic growth, the Web Collaboration Software industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Web Collaboration Software market size to maintain the average annual growth rate of XXX from XXX million $ in 2014 to XXX million $ in 2018, Report analysts believe that in the next few years, Web Collaboration Software market size will be further expanded, we expect that by 2023, The market size of the Web Collaboration Software will reach XXX million $.

Download PDF Sample of Web Collaboration Software Market report @http://www.arcognizance.com/enquiry-sample/524732

This Report covers the Major Players’ data, including: shipment, revenue, gross profit, interview record, business distribution etc., these data help the consumer know about the competitors better. This report also covers all the regions and countries of the world, which shows a regional development status, including market size.

Besides, the report also covers segment data, including: type segment, industry segment, channel segment etc. cover different segment market size. Also cover different industries clients’ information, which is very important for the Major Players.

Section 1: Definition

Section (2 3): Major Player Detail

IBM

Zimbra

Projectplace

Samepage

Facebook

Clarizen

Smartsheet

Asana

Workamajig Platinum

Zoho

Monday.com

Wrike

Brief about Web Collaboration Software Market Report with [email protected] http://arcognizance.com/report/global-web-collaboration-software-market-report-2019

Section 4: Region Segmentation

North America Country (United States, Canada)

South America

Asia Country (China, Japan, India, Korea)

Europe Country (Germany, UK, France, Italy)

Other Country (Middle East, Africa, GCC)

Section (5 6 7):

Type Segmentation (On-Premise, Cloud-Based, , , )

Industry Segmentation (Large Enterprise, SMBs, , , )

Channel (Direct Sales, Distributor) Segmentation

Section 8: Trend (2018-2023)

Section 9: Type Detail

Section 10: Downstream Consumer

Section 11: Cost Structure

Section 12: Conclusion

Single User License Copy and other purchase [email protected] http://www.arcognizance.com/purchase/524732

Table of Content

Chapter One: Web Collaboration Software Definition

Chapter Two: Global Web Collaboration Software Market Major Player Share and Market Overview

Chapter Three: Major Player Web Collaboration Software Business Introduction

Chapter Four: Global Web Collaboration Software Market Segmentation (Region Level)

Chapter Five: Global Web Collaboration Software Market Segmentation (Type Level)

Chapter Six: Global Web Collaboration Software Market Segmentation (Industry Level)

Chapter Seven: Global Web Collaboration Software Market Segmentation (Channel Level)

Chapter Eight: Web Collaboration Software Market Forecast 2018-2023

Chapter Nine: Web Collaboration Software Segmentation Type

Chapter Ten: Web Collaboration Software Segmentation Industry

10.1 Large Enterprise Clients

10.2 SMBs Clients

10.3 Clients

10.4 Clients

10.5 Clients

Chapter Eleven: Web Collaboration Software Cost Analysis

11.1 Technology Cost Analysis

11.2 Labor Cost Analysis

11.3 Cost Overview

Chapter Twelve: Conclusion

Chart and Figure

Figure Web Collaboration Software from IBM

Chart 2014-2018 Global Major Player Web Collaboration Software Business Revenue (Million USD)

Chart 2014-2018 Global Major Player Web Collaboration Software Business Revenue Share

Chart IBM Web Collaboration Software Revenue, Growth Rate and Gross profit 2014-2018

Chart IBM Web Collaboration Software Business Distribution

Chart IBM Interview Record (Partly)

Figure IBM Web Collaboration Software Picture

Chart IBM Web Collaboration Software Business Profile

Table IBM Web Collaboration Software Specification

Chart Zimbra Web Collaboration Software Revenue, Growth Rate and Gross profit 2014-2018

Chart Zimbra Web Collaboration Software Business Distribution

Chart Zimbra Interview Record (Partly)

Figure Zimbra Web Collaboration Software Picture

Chart Zimbra Web Collaboration Software Business Overview

Table Zimbra Web Collaboration Software Specification

Chart Projectplace Web Collaboration Software Revenue, Growth Rate and Gross profit 2014-2018

Chart Projectplace Web Collaboration Software Business Distribution

Chart Projectplace Interview Record (Partly)

Figure Projectplace Web Collaboration Software Picture

Chart Projectplace Web Collaboration Software Business Overview

Table Projectplace Web Collaboration Software Specification continued…

About Us:

Analytical Research Cognizance is an initiation in this new era of “analysis @ thought.” We are on a mission to replace the conventional research programs and give way to the latest methods and information for the organizations. We have created this hub of analytical research papers where you can get an access to the latest and the best research papers coming out from some reliable and budding research houses. After the advent of “new analytics”” based on the data collection facilities of big data, the face of “”business research facilities”” has changed drastically.

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Analytical Research Cognizance

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Working To Understand Slack’s Recent Valuation Declines

Yesterday, Jeff Richards, a managing partner at GGV Capital shared a chart with Crunchbase News (here) that detailed the premium that …

Let’s be clear: Slack as a public company today is worth around double what it was last valued at as a private company. During its August 2018 Series H, Slack’s $427 million raise gave it a post-money valuation of just over $7 billion. As of this morning, the productivity-focused technology shop is worth $13.2 billion.

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Most companies would kill for similar value creation. Slack, however is in a tricky spot. After setting a $26 per-share reference price for its direct listing, and trading as high as $42, its stock has rapidly lost altitude. Indeed, Slack shares have fallen under the $25 per-share mark, reducing its worth to the previously mentioned $13 billion.

Slack, once a private market darling is now enduring a more difficult run as a public company. Its most recent earnings call pushed its shares down by 15 percent before they recovered to a single-digit percentage loss. Later the firm’s equity depreciated anyway, falling from a pre-earnings $31 to this week’s sub-$25 range.

A good question is why; why is Slack’s stock falling? There appear to be a few possible reasons, including Microsoft, a broader SaaS repricing, and the chance that Slack’s public market valuation simply got away from it. We’ll peek at each and relate the situation back to startups as we go.

Three Whys

To summarize our three thoughts, Slack’s public market declines could be built on the fear that Microsoft will blunt its growth profile with its competing Teams product, that software-as-a-service (SaaS) companies are seeing a broader repricing of their revenue (SaaS firms are valued at multiples of revenue instead of a multiplication of profit), or, that Slack was simply overvalued by public market investors when it first began to trade.

Microsoft

Redmond is not interested in allowing Slack to burrow its way into the productivity stack of the next corporate generation. We’ve covered Microsoft’s Teams push here at Crunchbase News for years, noting that the larger company was working hard to grow its internal communication tooling after passing on buying Slack in years past.

There’s no perfect way to gauge investor sentiment in relation to a single idea. But it is hard to see how public investors could be overly worried about Teams and Microsoft today, given recent Slack performance figures.

After reporting 58 percent revenue growth in its most recent quarter, Slack’s CFO Allen Shim reported the following concerning large accounts (the very market category we’d presume that Microsoft’s Teams product would do best amongst):

We remain focused on expansion within existing customers and growing our large enterprise customer base, and ended the quarter with 720 Paid Customers greater than $100,000 in annual recurring revenue, which is up 75% year-over-year.

That’s nice and healthy. Whatever impact Microsoft is having on Slack, and it must have at least some, regardless of what people keep telling me on Twitter, it doesn’t appear to be existential to growth in the short term.

For startups, the above indicates that even when an incumbent technology behemoth enters your market aggressively, there’s still space for you provided that your brand is strong. Slack is a verb; Teams is a competitor.

SaaS Repricing

Software-as-a-service companies have been repriced by the market in recent weeks, but not much. We’ve covered the slight decline in the value of SaaS revenue, noting that from a high of 11x enterprise value/revenue the market has moderated to 10x.

But the multiple data from the Bessemer cloud index just makes plain what we can see in the markets. The same index has been mostly flat over the past few quarters while the companies that make up the index have grown. That puts natural downward pressure on revenue multiples. But all the same, the slow change in the value of SaaS revenue is insufficient to explain Slack’s value changes.

For startups, the takeaway from the above is that public markets still value SaaS companies highly, at least when compared to historical norms. That’s welcome news for quickly-growing private companies that sell code instead of widgets.

Overpriced?

Let’s see if Slack is valued more richly now than before on a revenue basis, and how that may stack up to peers.

As we often do with SaaS companies we’ll use its quarterly revenue tally as the foundation of our ARR calculations. This blends some non-recurring revenue into the figure, but it’s the best that we can do in the case of Slack. What follows are the company’s revenue results for the past four quarters, and its implied ARR:

  • Slack Q3 2018 revenue: $105.6 million ($422.4 million ARR)
  • Slack Q4 2018 revenue: $122.0 million ($488 million ARR)
  • Slack Q1 2019 revenue: $134.8 million ($539.2 million ARR)
  • Slack Q2 2019 revenue: $145.0 million ($600 million ARR)

As we can see, Slack has rapidly grown its GAAP revenue, and its implied ARR.

Recall that Slack was worth about $7.1 billion in Q3 2018, and is worth about $13.2 billion today. Using the firm’s Q3 2018 and Q2 2019 ARR numbers, which valuation (loosely) provides the more attractive (lower) multiple?

  • Slack Q3 2018 implied ARR multiple: 16.9x
  • Slack Q2 2019 implied ARR multiple: 22x

As you can see, Slack’s ARR multiple today is higher than it was. And both its Q3 2018 and Q2 2019 ARR multiples are far above what the Bessemer index sports. (Note: we can’t directly compare the results as we are doing ARR calculations using market cap on one side, and enterprise value/revenue on the other. But the gap is large enough to show Slack as an outlier.)

Now recall that Slack was worth far more a few months ago. That means that its ARR multiple was even higher before. Slack’s declines, therefore, feel much more like the firm inching closer to market norms than it being repudiated by public investors. You simply cannot say that Slack is being dissed by public investors when it is still richly valued compared to its comps.

The lessons for startups in the above is that top-tier SaaS companies can command strong revenue multiples, but that they are not unlimited. No matter who you are.

Wrapping Up

Yesterday, Jeff Richards, a managing partner at GGV Capital shared a chart with Crunchbase News (here) that detailed the premium that faster-growing SaaS companies enjoy over their more slowly-growing peers. In this context, we can add a final wrinkle to Slack’s revenue multiple declines.

It’s perfectly reasonable to say that Slack’s falling net retention rate (from 138 percent in the quarter ending April 2019 to 136 percent in the quarter ending July 2019) implies a slower future growth rate. And that is causing investors to reprice Slack downward, akin to what Richards’ chart would lead us to understand.

But Slack is still a richly-valued SaaS company putting up quick growth from a position of wealth; the company has more cash than the ferrous financial institution. So while Slack’s falling share price makes for good headlines, upon closer look the situation appears to be more return-to-senses than dramatic diss.

Illustration: Li-Anne Dias.

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Kong Software raises cash and staffs up to go ape for app developers

But it moved stateside and eventually grew to secure investment capital from investors including Index Ventures and Andreessen Horowitz in 2017, …

Kong Software ($KONGHQ) is scaling up, according to its alternative data, and with a new round of funding the San Francisco-based API management software developer is going ape in 2019.

Our first chart tracks Kong’s LinkedIn Employee Count – we’re able to gauge the number of staffers from how many people identify with an organization’s LinkedIn page as current workers – and it has risen nearly 40% in the last few months, to more than 158. That follows an early 2019 $43 million funding round that allowed the startup to start staffing up at a faster pace.

The company – which was initially called Mashape – was founded in Italy, in 2007. But it moved stateside and eventually grew to secure investment capital from investors including Index Ventures and Andreessen Horowitz in 2017, its most recent round of funding until this year’s cash haul.

According to Forbes’ ‘Next Billion-Dollar Startups‘ piece earlier this year, among Kong’s 130 customers are SoulCycle and WeWork. A TechCrunch report that covered its most recent fundraising said it has pulled together about $70 million in invested capital.

The company continues to scale up, judging by its job postings, our next chart. Job postings rose from 33 to 50, or about 50%. And – Thinknum subscribers can view job postings by category – because the top category of job postings shifted from ‘engineering’ to ‘sales’ in 2019, it looks like investors’ bet earlier this year could already be beginning to pay off.

Finally, Kong’s Github Activity – an ongoing measure of developer activity within the platform. Thinknum subscribers can track every Kong Github activity metric clicking here – but one of its biggest sources of activity is signaling growth of about 8% in a little over one quarter’s time – and for a company that focuses on supporting the app developer community, the fact that Kong has more than 100 metrics in this category alone to follow, shows that the startup is still pushing scale.

About the Data:

Thinknum tracks companies using information they post online – jobs, social and web traffic, product sales and app ratings – and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.

Further Reading:

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