Zendesk, Inc. (ZEN) Position Increased by Westfield Capital Management Co. LP
Westfield Capital Management Co. LP increased its position in shares of Zendesk, Inc. (NYSE:ZEN) by 3.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,064,475 shares of the software maker’s stock after buying an additional 32,835 shares during the period. Westfield Capital Management Co. LP owned 1.08% of Zendesk worth $29,571,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Laurion Capital Management LP purchased a new stake in Zendesk during the second quarter worth $214,000. Amalgamated Bank lifted its holdings in Zendesk by 24.1% during the second quarter. Amalgamated Bank now owns 12,355 shares of the software maker’s stock valued at $343,000 after purchasing an additional 2,402 shares in the last quarter. BlackRock Inc. lifted its holdings in Zendesk by 54.9% during the second quarter. BlackRock Inc. now owns 8,835,508 shares of the software maker’s stock valued at $245,450,000 after purchasing an additional 3,133,287 shares in the last quarter. Granite Point Capital Management L.P. purchased a new position in Zendesk during the second quarter valued at $833,000. Finally, Ameriprise Financial Inc. lifted its holdings in Zendesk by 125.8% during the second quarter. Ameriprise Financial Inc. now owns 96,764 shares of the software maker’s stock valued at $2,687,000 after purchasing an additional 53,901 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Zendesk from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. BidaskClub downgraded shares of Zendesk from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $33.00 price objective on shares of Zendesk in a report on Tuesday, September 12th. ValuEngine raised shares of Zendesk from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. Finally, KeyCorp reaffirmed a “buy” rating and set a $35.00 price objective on shares of Zendesk in a report on Friday, August 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Zendesk presently has an average rating of “Buy” and a consensus price target of $33.09.
Zendesk, Inc. (NYSE ZEN) traded up 0.80% during midday trading on Monday, reaching $28.89. 20,429 shares of the company traded hands. The company’s 50-day moving average price is $27.70 and its 200 day moving average price is $27.64. Zendesk, Inc. has a 12 month low of $19.77 and a 12 month high of $31.36. The firm’s market capitalization is $2.90 billion.
Zendesk (NYSE:ZEN) last released its earnings results on Thursday, August 3rd. The software maker reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.20). The firm had revenue of $101.30 million during the quarter, compared to analysts’ expectations of $99.47 million. Zendesk had a negative net margin of 29.34% and a negative return on equity of 32.10%. Zendesk’s revenue for the quarter was up 36.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.06) earnings per share. On average, equities analysts anticipate that Zendesk, Inc. will post ($0.17) earnings per share for the current year.
In other Zendesk news, Director Caryn Marooney sold 1,693 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $30.10, for a total value of $50,959.30. Following the transaction, the director now directly owns 53,948 shares in the company, valued at approximately $1,623,834.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP John Geschke sold 10,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $29.33, for a total transaction of $293,300.00. Following the completion of the transaction, the senior vice president now owns 20,595 shares in the company, valued at $604,051.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,085 shares of company stock worth $3,587,804. 5.30% of the stock is owned by insiders.
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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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