Zendesk Target of Unusually High Options Trading (ZEN)

Zendesk Inc (NYSE:ZEN) was the recipient of some unusual options trading on Thursday. Traders purchased 1,222 call options on the company. This is an increase of 1,243% compared to the average daily volume of 91 call options.

Several research firms have recently weighed in on ZEN. ValuEngine cut Zendesk from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. UBS Group reaffirmed a “neutral” rating and set a $38.00 price objective (up from $37.00) on shares of Zendesk in a research report on Thursday, November 9th. Canaccord Genuity upped their price objective on Zendesk from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Zacks Investment Research cut Zendesk from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $35.00 price objective on shares of Zendesk in a research report on Wednesday, October 18th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $34.13.

Zendesk (NYSE:ZEN) opened at $37.51 on Friday. Zendesk has a 52-week low of $22.20 and a 52-week high of $37.71. The company has a market capitalization of $3,810.00, a P/E ratio of -34.10 and a beta of 1.83.

Zendesk (NYSE:ZEN) last issued its quarterly earnings results on Wednesday, November 1st. The software maker reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.04. Zendesk had a negative return on equity of 32.50% and a negative net margin of 27.43%. The firm had revenue of $112.79 million during the quarter, compared to analysts’ expectations of $109.19 million. During the same period in the prior year, the firm posted ($0.04) earnings per share. The business’s quarterly revenue was up 39.7% compared to the same quarter last year. equities research analysts anticipate that Zendesk will post -1.03 EPS for the current fiscal year.

In other news, CFO Elena Gomez sold 1,200 shares of the company’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $33.66, for a total transaction of $40,392.00. Following the completion of the transaction, the chief financial officer now directly owns 2,535 shares of the company’s stock, valued at $85,328.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John Geschke sold 4,800 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $35.46, for a total value of $170,208.00. Following the transaction, the senior vice president now directly owns 15,995 shares of the company’s stock, valued at $567,182.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 153,800 shares of company stock valued at $5,309,267. Insiders own 5.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ZEN. Schwab Charles Investment Management Inc. boosted its position in Zendesk by 13.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 373,968 shares of the software maker’s stock valued at $10,389,000 after purchasing an additional 42,929 shares during the last quarter. First Trust Advisors LP acquired a new position in Zendesk during the second quarter valued at approximately $1,059,000. Bank of New York Mellon Corp boosted its position in Zendesk by 26.2% during the second quarter. Bank of New York Mellon Corp now owns 521,849 shares of the software maker’s stock valued at $14,496,000 after purchasing an additional 108,181 shares during the last quarter. Legal & General Group Plc boosted its position in Zendesk by 24.7% during the second quarter. Legal & General Group Plc now owns 35,877 shares of the software maker’s stock valued at $995,000 after purchasing an additional 7,105 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in Zendesk by 622.0% during the second quarter. BNP Paribas Arbitrage SA now owns 12,201 shares of the software maker’s stock valued at $339,000 after purchasing an additional 10,511 shares during the last quarter. 95.67% of the stock is owned by hedge funds and other institutional investors.

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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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