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


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Fisher Asset Management LLC trimmed its position in Zendesk, Inc. (NYSE:ZEN) by 5.5% during the 1st quarter, HoldingsChannel reports. The firm owned 161,121 shares of the software maker’s stock after selling 9,370 shares during the quarter. Fisher Asset Management LLC’s holdings in Zendesk were worth $21,368,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. 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. LA Financiere DE L Echiquier increased its holdings in shares of Zendesk by 226.8% in the fourth quarter. LA Financiere DE L Echiquier now owns 50,795 shares of the software maker’s stock worth $7,270,000 after purchasing an additional 35,253 shares during the last quarter. Capstone Triton Financial Group LLC bought a new stake in shares of Zendesk in the fourth quarter worth about $361,000. Sei Investments Co. increased its holdings in shares of Zendesk by 2.5% in the third quarter. Sei Investments Co. now owns 112,205 shares of the software maker’s stock worth $11,586,000 after purchasing an additional 2,765 shares during the last quarter. Finally, IFM Investors Pty Ltd bought a new stake in shares of Zendesk in the fourth quarter worth about $1,561,000. 97.39% of the stock is currently owned by hedge funds and other institutional investors.

ZEN has been the subject of several recent research reports. Oppenheimer reiterated an “outperform” rating and issued a $180.00 price target (up previously from $170.00) on shares of Zendesk in a research report on Friday, February 5th. JMP Securities lifted their price target on Zendesk from $143.00 to $193.00 and gave the stock an “outperform” rating in a research report on Friday, February 5th. Cowen lifted their price target on Zendesk from $165.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, February 5th. Piper Sandler lifted their price target on Zendesk from $180.00 to $186.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Canaccord Genuity lifted their price target on Zendesk from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 5th. They noted that the move was a valuation call. 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 market capitalization of $17.05 billion, a price-to-earnings ratio of -91.78 and a beta of 1.27. Zendesk, Inc. has a 52 week low of $70.92 and a 52 week high of $166.60. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 2.54. The firm has a 50 day moving average of $140.65 and a 200 day moving average of $137.93.

Zendesk (NYSE:ZEN) last issued its quarterly earnings data on Thursday, February 4th. The software maker reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.28. The company had revenue of $283.50 million during the quarter, compared to the consensus estimate of $277.38 million. Zendesk had a negative net margin of 19.24% and a negative return on equity of 22.55%. On average, sell-side analysts expect that Zendesk, Inc. will post -0.68 EPS for the current year.

In other news, EVP Soren Abildgaard sold 2,549 shares of the stock in a transaction dated Wednesday, April 7th. The shares were sold at an average price of $138.35, for a total transaction of $352,654.15. Also, insider John Geschke sold 3,000 shares of the company’s stock in a transaction dated Tuesday, February 9th. The stock was sold at an average price of $155.18, for a total transaction of $465,540.00. Following the transaction, the insider now owns 35,997 shares of the company’s stock, valued at approximately $5,586,014.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 176,917 shares of company stock worth $25,657,280. Insiders own 4.30% of the company’s stock.

Zendesk Company Profile

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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