Zendesk Inc. (ZEN) Position Raised by Strs Ohio
Strs Ohio increased its stake in Zendesk Inc. (NYSE:ZEN) by 121.3% during the second quarter, Holdings Channel reports. The institutional investor owned 46,700 shares of the company’s stock after buying an additional 25,600 shares during the period. Strs Ohio’s holdings in Zendesk were worth $1,231,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of ZEN. Fox Run Management L.L.C. bought a new stake in Zendesk during the second quarter valued at about $346,000. Hamilton Lane Advisors LLC increased its stake in Zendesk by 39.8% in the second quarter. Hamilton Lane Advisors LLC now owns 80,763 shares of the company’s stock valued at $1,978,000 after buying an additional 22,983 shares in the last quarter. Thrax Management LLC increased its stake in Zendesk by 38.7% in the first quarter. Thrax Management LLC now owns 549,550 shares of the company’s stock valued at $11,502,000 after buying an additional 153,336 shares in the last quarter. Jericho Capital Asset Management L.P. increased its stake 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 valued at $93,124,000 after buying an additional 227,274 shares in the last quarter. Finally, Barclays PLC increased its stake in Zendesk by 128.3% in the first quarter. Barclays PLC now owns 37,882 shares of the company’s stock valued at $758,000 after buying an additional 21,291 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.
Zendesk Inc. (NYSE:ZEN) traded down 1.56% during mid-day trading on Wednesday, hitting $27.82. 593,202 shares of the stock were exchanged. Zendesk Inc. has a 52 week low of $14.39 and a 52 week high of $31.88. The company’s 50-day moving average price is $30.42 and its 200 day moving average price is $26.90. The firm’s market capitalization is $2.61 billion.
Zendesk (NYSE:ZEN) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.03. Zendesk had a negative net margin of 37.10% and a negative return on equity of 30.61%. The firm had revenue of $74.20 million for the quarter, compared to the consensus estimate of $72.34 million. During the same period in the previous year, the firm posted ($0.08) EPS. The business’s quarterly revenue was up 53.9% on a year-over-year basis. Equities research analysts expect that Zendesk Inc. will post ($0.04) EPS for the current year.
Several equities research analysts have issued reports on the company. Rosenblatt Securities restated a “buy” rating and set a $33.00 target price on shares of Zendesk in a research report on Wednesday, September 28th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $35.00 price target on shares of Zendesk in a report on Saturday, August 13th. Zacks Investment Research raised shares of Zendesk from a “hold” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a report on Thursday, August 11th. Morgan Stanley upped their price target on shares of Zendesk from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, July 14th. Finally, Summit Redstone assumed coverage on Zendesk in a research note on Monday, July 18th. They issued a “buy” rating and a $34.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $32.73.
In other news, SVP John Geschke sold 10,000 shares of the business’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $29.87, for a total value of $298,700.00. Following the sale, the senior vice president now directly owns 11,380 shares in the company, valued at approximately $339,920.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Mikkel Svane sold 150,000 shares of the business’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $30.59, for a total transaction of $4,588,500.00. Following the completion of the sale, the chairman now owns 3,421,984 shares in the company, valued at $104,678,490.56. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by insiders.
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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