Independent Advisor Alliance Takes $528,000 Position in Zendesk, Inc. (NYSE:ZEN)

Independent Advisor Alliance purchased a new stake in Zendesk, Inc. (NYSE:ZEN – Get Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,390 shares of the software maker’s stock, valued at approximately $528,000.

Several other hedge funds and other institutional investors also recently modified their holdings of ZEN. National Bank of Canada FI bought a new stake in shares of Zendesk in the fourth quarter valued at approximately $39,000. National Asset Management Inc. bought a new stake in shares of Zendesk in the fourth quarter valued at approximately $300,000. Commonwealth Equity Services LLC raised its position in shares of Zendesk by 35.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 5,755 shares of the software maker’s stock valued at $600,000 after purchasing an additional 1,513 shares during the period. Xponance Inc. raised its position in shares of Zendesk by 1.4% in the fourth quarter. Xponance Inc. now owns 13,623 shares of the software maker’s stock valued at $1,421,000 after purchasing an additional 185 shares during the period. Finally, Quadrant Capital Group LLC raised its position in shares of Zendesk by 102.3% in the fourth quarter. Quadrant Capital Group LLC now owns 259 shares of the software maker’s stock valued at $27,000 after purchasing an additional 131 shares during the period. Institutional investors own 98.72% of the company’s stock.

Insiders Place Their Bets

In other Zendesk news, CEO Mikkel Svane sold 101,930 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $75.28, for a total value of $7,673,290.40. Following the completion of the transaction, the chief executive officer now directly owns 751,983 shares in the company, valued at approximately $56,609,280.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Norman Gennaro sold 7,000 shares of the stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $75.00, for a total transaction of $525,000.00. Following the sale, the insider now directly owns 28,715 shares of the company’s stock, valued at approximately $2,153,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mikkel Svane sold 101,930 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $75.28, for a total transaction of $7,673,290.40. Following the sale, the chief executive officer now directly owns 751,983 shares in the company, valued at $56,609,280.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 153,172 shares of company stock worth $11,710,026. 2.92% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ZEN shares. Cowen reduced their price objective on shares of Zendesk to $77.50 in a research note on Monday, July 4th. UBS Group reduced their price objective on shares of Zendesk from $128.00 to $77.50 in a research note on Friday, June 24th. Canaccord Genuity Group cut shares of Zendesk from a “buy” rating to a “hold” rating in a research note on Friday, June 24th. Jefferies Financial Group reduced their price objective on shares of Zendesk from $120.00 to $110.00 in a research note on Monday, May 23rd. Finally, Piper Sandler reduced their price objective on shares of Zendesk from $140.00 to $77.50 and set a “neutral” rating for the company in a research note on Monday, July 18th. Fifteen analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Zendesk presently has an average rating of “Hold” and an average target price of $95.69.

Zendesk Trading Down 0.2 %

NYSE:ZEN opened at $75.89 on Friday. The company has a fifty day moving average of $73.71 and a 200 day moving average of $98.69. Zendesk, Inc. has a 52 week low of $54.16 and a 52 week high of $136.30. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 3.48. The firm has a market capitalization of $9.37 billion, a P/E ratio of -33.29 and a beta of 0.99.

Zendesk (NYSE:ZEN – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The software maker reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. Zendesk had a negative net margin of 18.33% and a negative return on equity of 42.82%. The company had revenue of $407.21 million during the quarter, compared to analyst estimates of $404.68 million. During the same period in the prior year, the business posted ($0.35) EPS. The firm’s revenue was up 28.0% compared to the same quarter last year. On average, research analysts predict that Zendesk, Inc. will post -1 earnings per share for the current year.

Zendesk Profile

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