Zendesk, Inc. (ZEN) Holdings Trimmed by Wasatch Advisors Inc.
Wasatch Advisors Inc. lessened its holdings in shares of Zendesk, Inc. (NYSE:ZEN) by 30.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,722,961 shares of the software maker’s stock after selling 1,196,518 shares during the quarter. Wasatch Advisors Inc. owned approximately 2.68% of Zendesk worth $79,265,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new position in Zendesk during the third quarter worth approximately $105,000. Advisor Group Inc. increased its position in Zendesk by 44.3% during the second quarter. Advisor Group Inc. now owns 3,701 shares of the software maker’s stock worth $103,000 after buying an additional 1,137 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Zendesk by 10.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the software maker’s stock worth $108,000 after buying an additional 352 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Zendesk by 8.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 3,998 shares of the software maker’s stock worth $111,000 after buying an additional 323 shares during the last quarter. Finally, Fortaleza Asset Management Inc. acquired a new position in Zendesk during the second quarter worth approximately $115,000. 95.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Zendesk, Inc. (NYSE ZEN) traded up $0.07 during mid-day trading on Tuesday, hitting $34.70. The company had a trading volume of 599,660 shares, compared to its average volume of 1,059,783. Zendesk, Inc. has a fifty-two week low of $19.77 and a fifty-two week high of $35.89.
Zendesk (NYSE:ZEN) last issued its quarterly earnings results on Wednesday, November 1st. The software maker reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.04. The business had revenue of $112.79 million during the quarter, compared to analysts’ expectations of $109.19 million. Zendesk had a negative return on equity of 32.50% and a negative net margin of 27.43%. The firm’s revenue for the quarter was up 39.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.04) earnings per share. research analysts predict that Zendesk, Inc. will post -1.03 EPS for the current year.
In related news, insider Adrian Mcdermott sold 1,766 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $28.87, for a total value of $50,984.42. Following the completion of the sale, the insider now directly owns 80,581 shares in the company, valued at $2,326,373.47. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Caryn Marooney sold 1,693 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $27.35, for a total value of $46,303.55. Following the completion of the sale, the director now owns 56,061 shares of the company’s stock, valued at $1,533,268.35. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,040 shares of company stock valued at $4,990,954. 5.30% of the stock is currently owned by corporate insiders.
Several equities analysts have recently commented on the company. UBS AG reaffirmed a “neutral” rating and issued a $38.00 target price (up previously from $37.00) on shares of Zendesk in a research report on Thursday, November 9th. Zacks Investment Research downgraded Zendesk from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Stifel Nicolaus reaffirmed a “neutral” rating on shares of Zendesk in a research report on Friday, November 3rd. Canaccord Genuity upped their target price on Zendesk from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Finally, Morgan Stanley upped their target price on Zendesk from $35.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. Zendesk presently has a consensus rating of “Buy” and an average price target of $34.13.
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Zendesk Company Profile
Zendesk, Inc (Zendesk) is a software development company. The Zendesk family of products is built to work together to help organizations understand and manage customer relationships. All Zendesk products share a common interface and are being developed to support a shared services infrastructure and common customer data platform.
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