Trillium Asset Management LLC Has $3,777,000 Stake in Zendesk Inc. (ZEN)
Trillium Asset Management LLC lowered its stake in Zendesk Inc. (NYSE:ZEN) by 10.5% during the second quarter, Holdings Channel reports. The institutional investor owned 143,162 shares of the company’s stock after selling 16,818 shares during the period. Trillium Asset Management LLC’s holdings in Zendesk were worth $3,777,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Wellington Management Group LLP increased its stake in shares of Zendesk by 348.6% in the first quarter. Wellington Management Group LLP now owns 4,370,342 shares of the company’s stock valued at $91,471,000 after buying an additional 3,396,128 shares in the last quarter. Hunt Lane Capital LP increased its position in Zendesk by 1,046.8% in the first quarter. Hunt Lane Capital LP now owns 1,422,000 shares of the company’s stock worth $29,762,000 after buying an additional 1,298,000 shares during the period. Franklin Resources Inc. increased its position in Zendesk by 48.9% in the first quarter. Franklin Resources Inc. now owns 3,881,877 shares of the company’s stock worth $81,248,000 after buying an additional 1,275,008 shares during the period. Jericho Capital Asset Management L.P. increased its position in Zendesk by 5.4% in the first quarter. Jericho Capital Asset Management L.P. now owns 4,449,324 shares of the company’s stock worth $93,124,000 after buying an additional 227,274 shares during the period. Finally, Thrax Management LLC increased its position in Zendesk by 38.7% in the first quarter. Thrax Management LLC now owns 549,550 shares of the company’s stock worth $11,502,000 after buying an additional 153,336 shares during the period. 83.66% of the stock is owned by institutional investors.
Zendesk Inc. (NYSE:ZEN) traded down 0.64% during mid-day trading on Friday, hitting $29.52. 441,136 shares of the stock were exchanged. The stock’s 50-day moving average is $30.54 and its 200 day moving average is $26.65. Zendesk Inc. has a 52 week low of $14.39 and a 52 week high of $31.88. The company’s market capitalization is $2.77 billion.
Zendesk (NYSE:ZEN) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.03. The business earned $74.20 million during the quarter, compared to analyst estimates of $72.34 million. Zendesk had a negative net margin of 37.10% and a negative return on equity of 30.61%. Zendesk’s quarterly revenue was up 53.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.08) EPS. On average, analysts anticipate that Zendesk Inc. will post ($0.04) EPS for the current year.
ZEN has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Zendesk from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research report on Thursday, July 7th. Morgan Stanley reaffirmed a “buy” rating on shares of Zendesk in a research report on Sunday, July 17th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $33.00 target price on shares of Zendesk in a research report on Wednesday, September 28th. Canaccord Genuity reaffirmed a “buy” rating on shares of Zendesk in a research report on Friday, June 10th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and issued a $33.00 target price (up previously from $27.00) on shares of Zendesk in a research report on Wednesday, July 27th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $32.73.
In other Zendesk news, SVP Adrian Mcdermott sold 1,245 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $28.24, for a total transaction of $35,158.80. Following the completion of the sale, the senior vice president now owns 84,843 shares in the company, valued at approximately $2,395,966.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Caryn Marooney sold 1,693 shares of the business’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $31.19, for a total transaction of $52,804.67. Following the sale, the director now owns 24,911 shares of the company’s stock, valued at approximately $776,974.09. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.
Zendesk, Inc is a software development company. The Company provides software as a service (SaaS) customer service platform. The Company’s platform consolidates the data from customer interactions and provides organizations with analytics and performance benchmarking. The Company also provides SaaS live chat software that can be utilized independently to facilitate communications between organizations and their customers.
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