O Shares Investment Advisers LLC lowered its stake in shares of Zendesk Inc (NYSE:ZEN) by 14.3% during the second quarter, Holdings Channel reports. The fund owned 6,362 shares of the software maker’s stock after selling 1,065 shares during the period. O Shares Investment Advisers LLC’s holdings in Zendesk were worth $566,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of ZEN. CIBC Private Wealth Group LLC acquired a new stake in shares of Zendesk during the first quarter worth $54,818,000. Neuberger Berman Group LLC grew its position in shares of Zendesk by 982.4% during the 1st quarter. Neuberger Berman Group LLC now owns 469,810 shares of the software maker’s stock valued at $39,934,000 after acquiring an additional 426,405 shares during the period. AO Asset Management LP grew its position in shares of Zendesk by 171.0% during the 1st quarter. AO Asset Management LP now owns 476,700 shares of the software maker’s stock valued at $40,520,000 after acquiring an additional 300,800 shares during the period. Janus Henderson Group PLC grew its position in shares of Zendesk by 10.3% during the 2nd quarter. Janus Henderson Group PLC now owns 3,180,927 shares of the software maker’s stock valued at $283,198,000 after acquiring an additional 296,002 shares during the period. Finally, Half Sky Capital UK Ltd grew its position in shares of Zendesk by 207.0% during the 1st quarter. Half Sky Capital UK Ltd now owns 393,315 shares of the software maker’s stock valued at $33,432,000 after acquiring an additional 265,200 shares during the period. 92.77% of the stock is currently owned by hedge funds and other institutional investors.
In other Zendesk news, CFO Elena Gomez sold 5,000 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $91.79, for a total value of $458,950.00. Following the completion of the transaction, the chief financial officer now owns 25,055 shares in the company, valued at $2,299,798.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Adrian Mcdermott sold 3,484 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $78.96, for a total transaction of $275,096.64. Following the completion of the transaction, the insider now owns 84,948 shares of the company’s stock, valued at approximately $6,707,494.08. The disclosure for this sale can be found here. In the last three months, insiders sold 257,380 shares of company stock worth $20,202,336. 4.60% of the stock is owned by corporate insiders.
NYSE ZEN traded up $0.77 on Monday, reaching $74.23. The stock had a trading volume of 121,904 shares, compared to its average volume of 1,420,009. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of -77.88 and a beta of 1.31. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.23. Zendesk Inc has a 12-month low of $45.60 and a 12-month high of $94.89. The stock has a fifty day moving average price of $80.28 and a two-hundred day moving average price of $84.44.
Zendesk (NYSE:ZEN) last announced its earnings results on Tuesday, July 30th. The software maker reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.33. The company had revenue of $194.58 million for the quarter, compared to analyst estimates of $192.47 million. Zendesk had a negative return on equity of 27.44% and a negative net margin of 23.70%. The firm’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.03 earnings per share. Sell-side analysts forecast that Zendesk Inc will post -1.13 earnings per share for the current fiscal year.
Several analysts have recently commented on ZEN shares. Wedbush reaffirmed an “outperform” rating and set a $103.00 price target (up previously from $95.00) on shares of Zendesk in a research report on Thursday, May 23rd. UBS Group set a $98.00 price target on shares of Zendesk and gave the company a “hold” rating in a research report on Wednesday, July 31st. Jefferies Financial Group lifted their price target on shares of Zendesk from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Goldman Sachs Group started coverage on shares of Zendesk in a research report on Friday, June 7th. They set a “buy” rating and a $105.00 price target on the stock. Finally, Zacks Investment Research raised shares of Zendesk from a “sell” rating to a “hold” rating in a research report on Sunday, September 8th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $98.09.
Zendesk Company Profile
Zendesk, Inc, a software development company, provides SaaS products for organizations. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels. The company also offers Zendesk Chat, a live chat software to connect with customers on Websites, applications, and mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that powers customer self-service and support agent productivity; Zendesk Sell, a sales force automation software to enhance productivity, processes, and pipeline visibility for sales teams; Zendesk Connect that manages customer communication across channels; and Zendesk Explore, which provides analytics for businesses to measure and enhance the customer experience.
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