Zendesk (NYSE:ZEN) Trading Down 0% After Insider Selling

Shares of Zendesk Inc (NYSE:ZEN) dropped 0% during mid-day trading on Monday following insider selling activity. The stock traded as low as $63.47 and last traded at $64.37, approximately 123,185 shares were traded during trading. A decline of 94% from the average daily volume of 2,112,161 shares. The stock had previously closed at $64.40.

Specifically, SVP Norman Gennaro sold 753 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $77.52, for a total transaction of $58,372.56. Following the transaction, the senior vice president now owns 15,236 shares in the company, valued at $1,181,094.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP John Geschke sold 5,700 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $78.27, for a total transaction of $446,139.00. Following the transaction, the senior vice president now owns 26,814 shares in the company, valued at approximately $2,098,731.78. The disclosure for this sale can be found here. Insiders sold 254,648 shares of company stock worth $19,617,694 in the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Several equities analysts recently issued reports on the stock. Canaccord Genuity boosted their price target on shares of Zendesk from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. William Blair reiterated a “buy” rating on shares of Zendesk in a research report on Thursday, October 10th. KeyCorp reiterated a “buy” rating and set a $108.00 price target (up previously from $102.00) on shares of Zendesk in a research report on Tuesday, July 30th. UBS Group set a $98.00 price target on shares of Zendesk and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, Wedbush reduced their price target on shares of Zendesk from $106.00 to $98.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 16th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Zendesk currently has an average rating of “Buy” and a consensus target price of $95.99.

The company has a debt-to-equity ratio of 0.23, a current ratio of 0.67 and a quick ratio of 0.67. The firm’s 50 day moving average is $73.40 and its 200 day moving average is $82.64. The firm has a market cap of $7.15 billion, a P/E ratio of -67.08 and a beta of 1.22.

Zendesk (NYSE:ZEN) last posted its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.28) by $0.33. Zendesk had a negative net margin of 23.70% and a negative return on equity of 27.44%. The business had revenue of $194.58 million for the quarter, compared to analyst estimates of $192.47 million. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Zendesk’s quarterly revenue was up 37.1% on a year-over-year basis. As a group, analysts expect that Zendesk Inc will post -1.1 EPS for the current year.

A number of large investors have recently bought and sold shares of ZEN. Virginia Retirement Systems ET AL increased its holdings in Zendesk by 22.2% during the third quarter. Virginia Retirement Systems ET AL now owns 20,400 shares of the software maker’s stock valued at $1,487,000 after buying an additional 3,700 shares during the last quarter. Brinker Capital Inc. purchased a new stake in Zendesk during the third quarter valued at approximately $606,000. Strs Ohio increased its holdings in Zendesk by 40.5% during the third quarter. Strs Ohio now owns 3,902 shares of the software maker’s stock valued at $284,000 after buying an additional 1,125 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in Zendesk by 29.6% during the third quarter. Envestnet Asset Management Inc. now owns 17,143 shares of the software maker’s stock valued at $1,249,000 after buying an additional 3,915 shares during the last quarter. Finally, Capital Investment Advisory Services LLC increased its holdings in Zendesk by 44.2% during the third quarter. Capital Investment Advisory Services LLC now owns 865 shares of the software maker’s stock valued at $63,000 after buying an additional 265 shares during the last quarter. 92.79% of the stock is currently owned by institutional investors and hedge funds.

About Zendesk (NYSE:ZEN)

Zendesk, Inc, a software development company, provides SaaS products for organizations. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels. The company also offers Zendesk Chat, a live chat software to connect with customers on Websites, applications, and mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that powers customer self-service and support agent productivity; Zendesk Sell, a sales force automation software to enhance productivity, processes, and pipeline visibility for sales teams; Zendesk Connect that manages customer communication across channels; and Zendesk Explore, which provides analytics for businesses to measure and enhance the customer experience.

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