Metropolitan Life Insurance Co. NY reduced its position in shares of Zendesk, Inc. (NYSE:ZEN) by 2.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,908 shares of the software maker’s stock after selling 1,598 shares during the period. Metropolitan Life Insurance Co. NY owned about 0.06% of Zendesk worth $1,568,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Oppenheimer Asset Management Inc. acquired a new stake in Zendesk during the first quarter worth approximately $103,000. Ameritas Investment Partners Inc. acquired a new stake in Zendesk during the first quarter worth approximately $197,000. Gotham Asset Management LLC acquired a new stake in Zendesk during the first quarter worth approximately $211,000. 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 during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in Zendesk during the first quarter worth approximately $282,000. Institutional investors and hedge funds own 92.07% of the company’s stock.
Zendesk, Inc. (NYSE ZEN) traded down 3.11% during trading on Wednesday, reaching $28.08. The company’s stock had a trading volume of 642,043 shares. The company’s market capitalization is $2.78 billion. Zendesk, Inc. has a 52 week low of $19.77 and a 52 week high of $31.88. The company has a 50 day moving average price of $28.36 and a 200-day moving average price of $27.22.
Zendesk (NYSE:ZEN) last released its quarterly earnings results on Thursday, May 4th. The software maker reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.01. The company had revenue of $93.01 million during the quarter, compared to the consensus estimate of $92.46 million. Zendesk had a negative return on equity of 31.90% and a negative net margin of 30.79%. Zendesk’s revenue was up 35.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) earnings per share. Equities research analysts anticipate that Zendesk, Inc. will post ($0.18) earnings per share for the current year.
A number of analysts have recently commented on ZEN shares. Guggenheim started coverage on Zendesk in a research note on Wednesday, April 12th. They issued a “buy” rating on the stock. They noted that the move was a valuation call. BidaskClub lowered Zendesk from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. UBS AG reaffirmed a “buy” rating and issued a $38.00 price target (up from $36.00) on shares of Zendesk in a research note on Friday, May 5th. Zacks Investment Research lowered Zendesk from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 13th. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Zendesk in a research note on Friday, July 21st. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $33.00.
In other news, insider Adrian Mcdermott sold 1,766 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $29.11, for a total transaction of $51,408.26. Following the sale, the insider now owns 80,290 shares in the company, valued at $2,337,241.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mikkel Svane sold 50,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 1,777,268 shares in the company, valued at approximately $48,341,689.60. The disclosure for this sale can be found here. Insiders have sold 145,475 shares of company stock valued at $3,963,405 in the last three months. 5.30% of the stock is currently owned by company insiders.
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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