Zendesk, Inc. (ZEN) Stake Boosted by Allianz Asset Management AG
Allianz Asset Management AG boosted its position in Zendesk, Inc. (NYSE:ZEN) by 41.3% during the fourth quarter, Holdings Channel reports. The fund owned 2,498,941 shares of the company’s stock after buying an additional 730,610 shares during the period. Allianz Asset Management AG owned 2.61% of Zendesk worth $52,978,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of ZEN. BlackRock Inc. raised its position in Zendesk by 1.7% in the third quarter. BlackRock Inc. now owns 7,809 shares of the company’s stock worth $240,000 after buying an additional 134 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Zendesk by 2.1% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 32,300 shares of the company’s stock worth $685,000 after buying an additional 670 shares during the last quarter. Swiss National Bank raised its position in Zendesk by 0.8% in the third quarter. Swiss National Bank now owns 118,752 shares of the company’s stock worth $3,647,000 after buying an additional 1,000 shares during the last quarter. Teachers Advisors LLC raised its position in Zendesk by 0.8% in the third quarter. Teachers Advisors LLC now owns 128,968 shares of the company’s stock worth $3,961,000 after buying an additional 1,062 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in Zendesk by 0.8% in the third quarter. California State Teachers Retirement System now owns 171,880 shares of the company’s stock worth $5,278,000 after buying an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 87.19% of the company’s stock.
Shares of Zendesk, Inc. (NYSE:ZEN) traded down 0.91% during trading on Thursday, hitting $27.28. 1,150,523 shares of the company were exchanged. Zendesk, Inc. has a 12 month low of $16.39 and a 12 month high of $31.88. The firm’s 50-day moving average price is $24.06 and its 200 day moving average price is $26.20. The firm’s market capitalization is $2.61 billion.
Zendesk (NYSE:ZEN) last posted its quarterly earnings results on Wednesday, February 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. Zendesk had a negative net margin of 33.27% and a negative return on equity of 32.71%. The company earned $88.60 million during the quarter, compared to analyst estimates of $87.36 million. During the same period last year, the firm posted ($0.07) EPS. Zendesk’s revenue for the quarter was up 41.5% compared to the same quarter last year. On average, equities research analysts expect that Zendesk, Inc. will post ($0.16) earnings per share for the current fiscal year.
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A number of research firms have weighed in on ZEN. William Blair reiterated an “outperform” rating on shares of Zendesk in a research report on Friday, February 10th. Stifel Nicolaus upped their price target on shares of Zendesk from $28.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, February 9th. Wells Fargo & Company began coverage on shares of Zendesk in a research report on Wednesday, January 11th. They issued an “outperform” rating for the company. JMP Securities reiterated an “outperform” rating and issued a $31.00 price target on shares of Zendesk in a research report on Tuesday, January 17th. Finally, Zacks Investment Research upgraded shares of Zendesk from a “hold” rating to a “strong-buy” rating and set a $32.00 price target for the company in a research report on Wednesday. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $32.38.
In other Zendesk news, Chairman Mikkel Svane sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $24.64, for a total transaction of $1,232,000.00. Following the completion of the transaction, the chairman now directly owns 1,824,700 shares of the company’s stock, valued at approximately $44,960,608. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Caryn Marooney sold 1,693 shares of the firm’s stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $23.50, for a total transaction of $39,785.50. Following the transaction, the director now directly owns 33,373 shares of the company’s stock, valued at $784,265.50. The disclosure for this sale can be found here. Insiders have sold a total of 56,329 shares of company stock valued at $1,375,050 over the last three months. 17.00% of the stock is currently owned by insiders.
Zendesk, Inc is a software development company. The Company provides software as a service (SaaS) customer service platform. The Company’s platform consolidates the data from customer interactions and provides organizations with analytics and performance benchmarking. The Company also provides SaaS live chat software that can be utilized independently to facilitate communications between organizations and their customers.
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