Wasatch Advisors Inc. increased its holdings in shares of Zendesk, Inc. (NYSE:ZEN) by 26.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,919,479 shares of the software maker’s stock after purchasing an additional 820,465 shares during the period. Zendesk makes up about 1.5% of Wasatch Advisors Inc.’s holdings, making the stock its 15th biggest position. Wasatch Advisors Inc. owned 3.90% of Zendesk worth $108,883,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio grew its stake in Zendesk by 54.2% during the second quarter. Public Employees Retirement System of Ohio now owns 110,492 shares of the software maker’s stock worth $3,069,000 after purchasing an additional 38,859 shares during the period. Verition Fund Management LLC acquired a new stake in Zendesk during the second quarter worth approximately $278,000. Crosslink Capital Inc. grew its stake in Zendesk by 934.6% during the second quarter. Crosslink Capital Inc. now owns 788,714 shares of the software maker’s stock worth $21,910,000 after purchasing an additional 712,480 shares during the period. Ameritas Investment Partners Inc. grew its stake in Zendesk by 21.7% during the second quarter. Ameritas Investment Partners Inc. now owns 8,533 shares of the software maker’s stock worth $237,000 after purchasing an additional 1,521 shares during the period. Finally, Castleark Management LLC acquired a new stake in Zendesk during the second quarter worth approximately $7,962,000. 96.24% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on the company. ValuEngine cut Zendesk from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Piper Jaffray Companies set a $33.00 target price on Zendesk and gave the stock a “buy” rating in a research note on Saturday, August 5th. BidaskClub cut Zendesk from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 10th. Zacks Investment Research cut Zendesk from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, KeyCorp reaffirmed a “buy” rating and set a $35.00 target price on shares of Zendesk in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $32.50.
Shares of Zendesk, Inc. (ZEN) traded down 0.66% during midday trading on Friday, reaching $29.91. The company’s stock had a trading volume of 599,018 shares. The stock has a 50-day moving average price of $28.68 and a 200-day moving average price of $27.90. Zendesk, Inc. has a 52-week low of $19.77 and a 52-week high of $31.95. The stock’s market cap is $3.01 billion.
Zendesk (NYSE:ZEN) last posted its earnings results on Thursday, August 3rd. The software maker reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.20). Zendesk had a negative return on equity of 32.10% and a negative net margin of 29.34%. The firm had revenue of $101.30 million for the quarter, compared to analysts’ expectations of $99.47 million. During the same quarter last year, the company posted ($0.06) EPS. The firm’s revenue was up 36.5% on a year-over-year basis. Equities research analysts anticipate that Zendesk, Inc. will post ($0.17) earnings per share for the current fiscal year.
In other Zendesk news, Director Caryn Marooney sold 1,693 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $30.10, for a total transaction of $50,959.30. Following the transaction, the director now owns 53,948 shares in the company, valued at approximately $1,623,834.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the chairman now owns 1,730,990 shares in the company, valued at approximately $48,640,819. The disclosure for this sale can be found here. Insiders have sold a total of 91,315 shares of company stock worth $2,587,980 in the last quarter. Company insiders own 5.30% of the company’s stock.
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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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