Assenagon Asset Management S.A. purchased a new position in shares of Zendesk Inc (NYSE:ZEN) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 638,321 shares of the software maker’s stock, valued at approximately $48,915,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Millennium Management LLC grew its holdings in shares of Zendesk by 31.0% during the third quarter. Millennium Management LLC now owns 145,144 shares of the software maker’s stock worth $10,578,000 after buying an additional 34,329 shares in the last quarter. Harvest Fund Management Co. Ltd grew its holdings in shares of Zendesk by 20.5% during the second quarter. Harvest Fund Management Co. Ltd now owns 2,844 shares of the software maker’s stock worth $253,000 after buying an additional 484 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Zendesk by 185.4% during the third quarter. SG Americas Securities LLC now owns 21,594 shares of the software maker’s stock worth $1,574,000 after buying an additional 14,028 shares in the last quarter. Quest Capital Management Inc. ADV purchased a new stake in shares of Zendesk during the third quarter worth about $94,000. Finally, Point72 Asset Management L.P. grew its holdings in shares of Zendesk by 5,120.5% during the third quarter. Point72 Asset Management L.P. now owns 82,849 shares of the software maker’s stock worth $6,038,000 after buying an additional 81,262 shares in the last quarter. Institutional investors and hedge funds own 95.92% of the company’s stock.
In related news, insider Adrian Mcdermott sold 3,482 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $77.85, for a total value of $271,073.70. Following the completion of the sale, the insider now directly owns 84,946 shares in the company, valued at $6,613,046.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John Geschke sold 5,700 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $78.48, for a total transaction of $447,336.00. Following the completion of the sale, the insider now owns 29,544 shares of the company’s stock, valued at $2,318,613.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 88,537 shares of company stock valued at $6,601,319. 4.60% of the stock is owned by insiders.
ZEN has been the subject of a number of recent research reports. ValuEngine downgraded shares of Zendesk from a “buy” rating to a “hold” rating in a report on Wednesday, December 4th. Jefferies Financial Group reiterated a “buy” rating on shares of Zendesk in a report on Wednesday, October 30th. Oppenheimer upgraded shares of Zendesk from a “market perform” rating to an “outperform” rating and set a $103.00 price target for the company in a report on Friday. Bank of America lowered their price target on shares of Zendesk from $105.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, October 16th. Finally, Cowen reiterated a “buy” rating and set a $95.00 price target on shares of Zendesk in a report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Zendesk currently has an average rating of “Buy” and a consensus price target of $96.15.
Zendesk stock traded down $0.32 during trading on Friday, reaching $84.38. The company had a trading volume of 663,850 shares, compared to its average volume of 1,620,654. Zendesk Inc has a 12-month low of $62.38 and a 12-month high of $94.89. The stock’s 50 day moving average price is $77.84 and its two-hundred day moving average price is $78.29. The firm has a market capitalization of $9.57 billion, a price-to-earnings ratio of -88.82 and a beta of 1.21. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.37 and a current ratio of 1.37.
Zendesk (NYSE:ZEN) last released its earnings results on Tuesday, October 29th. The software maker reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.08. Zendesk had a negative net margin of 21.97% and a negative return on equity of 26.50%. The firm had revenue of $210.48 million during the quarter, compared to the consensus estimate of $207.40 million. As a group, research analysts expect that Zendesk Inc will post -0.75 earnings per share for the current year.
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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