Metropolitan Life Insurance Co. NY lowered its position in shares of Zendesk, Inc. (NYSE:ZEN) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 55,908 shares of the software maker’s stock after selling 1,598 shares during the period. Metropolitan Life Insurance Co. NY owned approximately 0.06% of Zendesk worth $1,568,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its position in Zendesk by 81,570.3% in the first quarter. BlackRock Inc. now owns 5,702,221 shares of the software maker’s stock worth $159,888,000 after buying an additional 5,695,239 shares in the last quarter. Jericho Capital Asset Management L.P. increased its position in Zendesk by 36.6% in the first quarter. Jericho Capital Asset Management L.P. now owns 2,459,840 shares of the software maker’s stock worth $68,974,000 after buying an additional 659,466 shares in the last quarter. EMS Capital LP increased its position in Zendesk by 71.4% in the first quarter. EMS Capital LP now owns 1,440,000 shares of the software maker’s stock worth $40,378,000 after buying an additional 600,000 shares in the last quarter. OppenheimerFunds Inc. increased its position in Zendesk by 91.5% in the first quarter. OppenheimerFunds Inc. now owns 1,148,785 shares of the software maker’s stock worth $32,212,000 after buying an additional 548,785 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Zendesk by 29.0% in the first quarter. Wellington Management Group LLP now owns 2,400,304 shares of the software maker’s stock worth $67,304,000 after buying an additional 539,513 shares in the last quarter. Hedge funds and other institutional investors own 91.85% of the company’s stock.
Shares of Zendesk, Inc. (NYSE:ZEN) opened at 29.16 on Friday. Zendesk, Inc. has a 52-week low of $19.77 and a 52-week high of $31.88. The stock’s 50 day moving average price is $27.72 and its 200 day moving average price is $26.80. The company’s market capitalization is $2.89 billion.
Zendesk (NYSE:ZEN) last announced its quarterly earnings results on Thursday, May 4th. The software maker reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. Zendesk had a negative return on equity of 31.90% and a negative net margin of 30.79%. The business had revenue of $93.01 million for the quarter, compared to analyst estimates of $92.46 million. During the same quarter in the prior year, the company posted ($0.08) EPS. The company’s quarterly revenue was up 35.9% on a year-over-year basis. On average, equities research analysts forecast that Zendesk, Inc. will post ($0.18) earnings per share for the current fiscal year.
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A number of research analysts have recently commented on ZEN shares. Zacks Investment Research downgraded Zendesk from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 13th. Guggenheim reiterated a “buy” rating and set a $33.00 target price on shares of Zendesk in a research report on Tuesday, April 18th. BidaskClub downgraded Zendesk from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 29th. William Blair restated an “outperform” rating on shares of Zendesk in a research report on Monday, April 3rd. Finally, Stifel Nicolaus restated a “hold” rating on shares of Zendesk in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $33.00.
In related news, SVP John Geschke sold 8,334 shares of the stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $30.06, for a total transaction of $250,520.04. Following the transaction, the senior vice president now owns 16,380 shares of the company’s stock, valued at approximately $492,382.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Mikkel Svane sold 50,000 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $27.20, for a total value of $1,360,000.00. Following the transaction, the chief executive officer now directly owns 1,777,268 shares in the company, valued at approximately $48,341,689.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,475 shares of company stock worth $3,963,405. Corporate insiders own 5.30% of the company’s stock.
About Zendesk
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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