Zendesk, Inc. (ZEN) Position Decreased by Pioneer Investment Management Inc.
Pioneer Investment Management Inc. reduced its position in shares of Zendesk, Inc. (NYSE:ZEN) by 0.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 277,534 shares of the software maker’s stock after selling 1,085 shares during the period. Pioneer Investment Management Inc.’s holdings in Zendesk were worth $7,710,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in ZEN. Oppenheimer Asset Management Inc. purchased a new stake in Zendesk during the first quarter worth $103,000. Independent Portfolio Consultants Inc. purchased a new stake in Zendesk during the second quarter worth $153,000. Ameritas Investment Partners Inc. purchased a new stake in Zendesk during the first quarter worth $197,000. Gotham Asset Management LLC purchased a new stake in Zendesk during the first quarter worth $211,000. Finally, Parallel Advisors LLC boosted its stake in Zendesk by 5.3% in the first quarter. Parallel Advisors LLC now owns 7,975 shares of the software maker’s stock worth $233,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.
Zendesk, Inc. (NYSE:ZEN) opened at 26.29 on Friday. Zendesk, Inc. has a 12 month low of $19.77 and a 12 month high of $31.88. The company has a 50 day moving average of $28.29 and a 200 day moving average of $27.35. The stock’s market capitalization is $2.64 billion.
Zendesk (NYSE:ZEN) last released its earnings results on Thursday, August 3rd. The software maker reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.20. The firm had revenue of $101.30 million for the quarter, compared to analysts’ expectations of $99.47 million. Zendesk had a negative return on equity of 32.10% and a negative net margin of 29.34%. The firm’s quarterly revenue was up 36.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) earnings per share. On average, equities analysts predict that Zendesk, Inc. will post ($0.17) EPS for the current year.
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A number of analysts have recently weighed in on the stock. UBS AG restated a “buy” rating and issued a $38.00 price target (up from $36.00) on shares of Zendesk in a report on Friday, May 5th. Zacks Investment Research cut shares of Zendesk from a “hold” rating to a “sell” rating in a report on Wednesday. Piper Jaffray Companies set a $33.00 price target on shares of Zendesk and gave the company a “buy” rating in a report on Saturday, August 5th. BidaskClub cut shares of Zendesk from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, KeyCorp restated a “buy” rating and issued a $35.00 price target on shares of Zendesk in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $33.00.
In related news, Chairman Mikkel Svane sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $28.10, for a total value of $1,405,000.00. Following the completion of the transaction, the chairman now directly owns 1,730,990 shares of the company’s stock, valued at $48,640,819. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elena Gomez sold 1,780 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $27.17, for a total value of $48,362.60. The disclosure for this sale can be found here. Insiders sold 148,834 shares of company stock valued at $4,098,844 over the last ninety days. 5.30% of the stock is currently owned by corporate insiders.
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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