Teachers Advisors LLC increased its holdings in shares of Zendesk, Inc. (NYSE:ZEN) by 24.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,967 shares of the software maker’s stock after buying an additional 34,599 shares during the period. Teachers Advisors LLC owned about 0.18% of Zendesk worth $4,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Goldman Sachs Group Inc. lifted its holdings in Zendesk by 28.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 337,329 shares of the software maker’s stock valued at $9,458,000 after purchasing an additional 75,286 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Zendesk in the 2nd quarter valued at $216,000. Morgan Stanley lifted its holdings in Zendesk by 3.1% in the 1st quarter. Morgan Stanley now owns 1,141,934 shares of the software maker’s stock valued at $32,020,000 after purchasing an additional 34,621 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Zendesk by 77.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,110,503 shares of the software maker’s stock valued at $58,629,000 after purchasing an additional 923,875 shares in the last quarter. Finally, Legato Capital Management LLC purchased a new position in Zendesk in the 2nd quarter valued at $492,000. Hedge funds and other institutional investors own 96.24% of the company’s stock.
In other news, CFO Elena Gomez sold 1,200 shares of the stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $28.87, for a total value of $34,644.00. Following the completion of the sale, the chief financial officer now owns 3,620 shares in the company, valued at $104,509.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Mikkel Svane sold 50,000 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $28.10, for a total value of $1,405,000.00. Following the completion of the sale, the chairman now owns 1,730,990 shares of the company’s stock, valued at approximately $48,640,819. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,315 shares of company stock valued at $2,587,980. Insiders own 5.30% of the company’s stock.
A number of brokerages have weighed in on ZEN. ValuEngine lowered Zendesk from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Piper Jaffray Companies set a $33.00 price objective on Zendesk and gave the company a “buy” rating in a report on Saturday, August 5th. BidaskClub lowered Zendesk from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research downgraded Zendesk from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $35.00 target price on shares of Zendesk in a research note on Friday, August 25th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the company. Zendesk has a consensus rating of “Buy” and an average target price of $32.50.
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Zendesk, Inc. (ZEN) opened at 29.30 on Thursday. Zendesk, Inc. has a 52-week low of $19.77 and a 52-week high of $31.36. The firm has a 50-day moving average price of $28.52 and a 200 day moving average price of $27.87. The firm’s market capitalization is $2.94 billion.
Zendesk (NYSE:ZEN) last announced its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.20). The firm had revenue of $101.30 million for the quarter, compared to analyst estimates of $99.47 million. Zendesk had a negative return on equity of 32.10% and a negative net margin of 29.34%. The business’s revenue was up 36.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.06) earnings per share. Analysts forecast that Zendesk, Inc. will post ($0.17) EPS for the current year.
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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