Zendesk, Inc. (ZEN) Shares Bought by Wells Fargo & Company MN
Wells Fargo & Company MN lifted its position in Zendesk, Inc. (NYSE:ZEN) by 3.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,969,553 shares of the software maker’s stock after purchasing an additional 58,040 shares during the quarter. Wells Fargo & Company MN owned about 1.99% of Zendesk worth $54,714,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. purchased a new position in shares of Zendesk in the first quarter worth about $103,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Zendesk by 10.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the software maker’s stock worth $108,000 after purchasing an additional 352 shares during the last quarter. Fortaleza Asset Management Inc. purchased a new position in shares of Zendesk in the second quarter worth about $115,000. Independent Portfolio Consultants Inc. purchased a new position in shares of Zendesk in the second quarter worth about $153,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Zendesk in the first quarter worth about $197,000. Hedge funds and other institutional investors own 96.06% of the company’s stock.
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Shares of Zendesk, Inc. (NYSE ZEN) opened at 28.66 on Friday. The stock has a 50 day moving average price of $27.70 and a 200-day moving average price of $27.64. The stock’s market capitalization is $2.88 billion. Zendesk, Inc. has a 52-week low of $19.77 and a 52-week high of $31.36.
Zendesk (NYSE:ZEN) last issued its earnings results on Thursday, August 3rd. The software maker reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.20). The business had revenue of $101.30 million for the quarter, compared to analysts’ expectations of $99.47 million. Zendesk had a negative return on equity of 32.10% and a negative net margin of 29.34%. The business’s quarterly revenue was up 36.5% on a year-over-year basis. During the same period last year, the company posted ($0.06) earnings per share. On average, equities research analysts anticipate that Zendesk, Inc. will post ($0.17) EPS for the current fiscal year.
ZEN has been the subject of several research analyst reports. Zacks Investment Research cut Zendesk from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. BidaskClub cut Zendesk from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Stifel Nicolaus restated a “hold” rating on shares of Zendesk in a research note on Friday, July 21st. KeyCorp reiterated a “buy” rating and set a $35.00 price target on shares of Zendesk in a research report on Friday, August 4th. Finally, Piper Jaffray Companies set a $33.00 price target on Zendesk and gave the company a “buy” rating in a research report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $33.09.
In other news, Chairman Mikkel Svane sold 50,000 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $28.10, for a total transaction of $1,405,000.00. Following the completion of the transaction, the chairman now directly owns 1,730,990 shares of the company’s stock, valued at approximately $48,640,819. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Adrian Mcdermott sold 1,766 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $26.42, for a total value of $46,657.72. Following the transaction, the insider now directly owns 80,435 shares of the company’s stock, valued at $2,125,092.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,085 shares of company stock valued at $3,587,804. Company insiders own 5.30% of the company’s stock.
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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