Fisher Asset Management LLC Sells 9,370 Shares of Zendesk, Inc. (NYSE:ZEN)


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Fisher Asset Management LLC lessened its stake in shares of Zendesk, Inc. (NYSE:ZEN) by 5.5% in the first quarter, Holdings Channel reports. The institutional investor owned 161,121 shares of the software maker’s stock after selling 9,370 shares during the period. Fisher Asset Management LLC’s holdings in Zendesk were worth $21,368,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in Zendesk by 22.6% during the 4th quarter. BlackRock Inc. now owns 7,294,485 shares of the software maker’s stock valued at $1,043,989,000 after purchasing an additional 1,345,316 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Zendesk by 86.4% during the fourth quarter. Alliancebernstein L.P. now owns 1,992,606 shares of the software maker’s stock valued at $285,182,000 after acquiring an additional 923,694 shares during the period. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Zendesk by 7.9% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,684,594 shares of the software maker’s stock worth $241,100,000 after purchasing an additional 123,329 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Zendesk by 4.6% in the fourth quarter. Bank of New York Mellon Corp now owns 1,289,257 shares of the software maker’s stock worth $184,519,000 after purchasing an additional 56,304 shares during the last quarter. Finally, William Blair Investment Management LLC increased its holdings in shares of Zendesk by 747.1% in the fourth quarter. William Blair Investment Management LLC now owns 1,105,653 shares of the software maker’s stock worth $158,241,000 after purchasing an additional 975,127 shares during the last quarter. 97.39% of the stock is owned by institutional investors.

Several equities research analysts have recently issued reports on ZEN shares. Canaccord Genuity lifted their target price on Zendesk from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, February 5th. They noted that the move was a valuation call. JMP Securities lifted their target price on Zendesk from $143.00 to $193.00 and gave the stock an “outperform” rating in a report on Friday, February 5th. Wolfe Research started coverage on Zendesk in a report on Wednesday, April 28th. They issued an “outperform” rating and a $180.00 target price on the stock. Morgan Stanley lifted their target price on Zendesk from $165.00 to $181.00 and gave the stock an “overweight” rating in a report on Friday, February 5th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $180.00 target price (up from $170.00) on shares of Zendesk in a report on Friday, February 5th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Zendesk has an average rating of “Buy” and an average price target of $153.47.

Shares of NYSE:ZEN opened at $144.09 on Tuesday. The company has a debt-to-equity ratio of 2.54, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a market capitalization of $17.05 billion, a PE ratio of -91.78 and a beta of 1.27. The business has a 50 day simple moving average of $140.65 and a two-hundred day simple moving average of $137.93. Zendesk, Inc. has a 1 year low of $70.92 and a 1 year high of $166.60.

Zendesk (NYSE:ZEN) last announced its quarterly earnings results on Thursday, February 4th. The software maker reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.28. The firm had revenue of $283.50 million during the quarter, compared to analyst estimates of $277.38 million. Zendesk had a negative return on equity of 22.55% and a negative net margin of 19.24%. Equities research analysts expect that Zendesk, Inc. will post -0.68 EPS for the current fiscal year.

In related news, EVP Soren Abildgaard sold 2,549 shares of the business’s stock in a transaction that occurred on Wednesday, April 7th. The shares were sold at an average price of $138.35, for a total value of $352,654.15. Also, insider Adrian Mcdermott sold 807 shares of the business’s stock in a transaction that occurred on Thursday, February 18th. The stock was sold at an average price of $151.18, for a total transaction of $122,002.26. Following the completion of the transaction, the insider now directly owns 83,413 shares of the company’s stock, valued at approximately $12,610,377.34. The disclosure for this sale can be found here. Insiders sold 176,917 shares of company stock valued at $25,657,280 in the last quarter. 4.30% of the stock is owned by company insiders.

About Zendesk

Zendesk, Inc, a software development company, provides software as a service solutions for organizations in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels.

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Institutional Ownership by Quarter for Zendesk (NYSE:ZEN)

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