Great Lakes Advisors LLC Sells 2,491 Shares of Zendesk, Inc. (NYSE:ZEN)


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Great Lakes Advisors LLC trimmed its stake in shares of Zendesk, Inc. (NYSE:ZEN) by 2.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 98,781 shares of the software maker’s stock after selling 2,491 shares during the period. Great Lakes Advisors LLC’s holdings in Zendesk were worth $14,138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ZEN. Steward Partners Investment Advisory LLC increased its holdings in shares of Zendesk by 68.9% in the third quarter. Steward Partners Investment Advisory LLC now owns 255 shares of the software maker’s stock valued at $26,000 after purchasing an additional 104 shares in the last quarter. Perigon Wealth Management LLC bought a new position in Zendesk in the 4th quarter valued at $51,000. Endurance Wealth Management Inc. acquired a new stake in shares of Zendesk in the 3rd quarter valued at $37,000. Fieldpoint Private Securities LLC bought a new stake in shares of Zendesk during the fourth quarter worth $125,000. Finally, CWM LLC raised its position in shares of Zendesk by 410.0% during the third quarter. CWM LLC now owns 1,020 shares of the software maker’s stock worth $105,000 after acquiring an additional 820 shares during the last quarter. 97.39% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently commented on the company. Cowen lifted their price objective on Zendesk from $165.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, February 5th. Morgan Stanley raised their target price on shares of Zendesk from $165.00 to $181.00 and gave the company an “overweight” rating in a research note on Friday, February 5th. JMP Securities lifted their price target on shares of Zendesk from $143.00 to $193.00 and gave the stock an “outperform” rating in a research report on Friday, February 5th. Zacks Investment Research upgraded shares of Zendesk from a “hold” rating to a “buy” rating and set a $148.00 price objective on the stock in a report on Friday, December 4th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $180.00 price objective (up from $170.00) on shares of Zendesk in a research note on Friday, February 5th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $143.31.

In related news, CAO Ying Christina Liu sold 6,000 shares of the firm’s stock in a transaction on Friday, December 4th. The shares were sold at an average price of $134.71, for a total transaction of $808,260.00. Following the sale, the chief accounting officer now directly owns 7,288 shares in the company, valued at $981,766.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Adrian Mcdermott sold 807 shares of the business’s stock in a transaction on Thursday, February 18th. The shares were sold at an average price of $151.18, for a total transaction of $122,002.26. Following the completion of the sale, the insider now directly owns 83,413 shares in the company, valued at $12,610,377.34. The disclosure for this sale can be found here. Insiders sold a total of 103,804 shares of company stock valued at $15,021,701 over the last quarter. 4.30% of the stock is owned by insiders.

ZEN opened at $152.54 on Tuesday. The stock has a market cap of $17.96 billion, a P/E ratio of -97.16 and a beta of 1.27. Zendesk, Inc. has a 12 month low of $50.23 and a 12 month 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 company has a fifty day simple moving average of $150.00 and a 200 day simple moving average of $122.73.

Zendesk (NYSE:ZEN) last posted its 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 analysts’ expectations of $277.38 million. Zendesk had a negative return on equity of 22.55% and a negative net margin of 19.24%. On average, equities research analysts expect that Zendesk, Inc. will post -0.68 earnings per share for the current fiscal year.

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, Australia, 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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