Mutual of America Capital Management LLC Has $5.50 Million Holdings in Zendesk Inc (ZEN)
Mutual of America Capital Management LLC trimmed its position in shares of Zendesk Inc (NYSE:ZEN) by 18.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,501 shares of the software maker’s stock after selling 17,880 shares during the quarter. Mutual of America Capital Management LLC owned 0.07% of Zendesk worth $5,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Swiss National Bank boosted its holdings in shares of Zendesk by 1.6% in the 2nd quarter. Swiss National Bank now owns 179,952 shares of the software maker’s stock worth $9,806,000 after buying an additional 2,800 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Zendesk by 36.4% in the 2nd quarter. Millennium Management LLC now owns 2,174,017 shares of the software maker’s stock worth $118,462,000 after buying an additional 579,772 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Zendesk in the 2nd quarter worth about $22,103,000. Cubist Systematic Strategies LLC boosted its holdings in shares of Zendesk by 6,776.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 206,298 shares of the software maker’s stock worth $11,241,000 after buying an additional 203,298 shares during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its holdings in shares of Zendesk by 8.8% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 16,046 shares of the software maker’s stock worth $1,139,000 after buying an additional 1,300 shares during the last quarter. 92.86% of the stock is currently owned by hedge funds and other institutional investors.
In other Zendesk news, SVP John Geschke sold 5,000 shares of the stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $69.20, for a total transaction of $346,000.00. Following the transaction, the senior vice president now directly owns 17,665 shares in the company, valued at $1,222,418. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Elena Gomez sold 500 shares of the stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $67.20, for a total transaction of $33,600.00. Following the transaction, the chief financial officer now owns 18,062 shares in the company, valued at $1,213,766.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,325 shares of company stock worth $6,563,500. 4.70% of the stock is owned by company insiders.
Zendesk (NYSE:ZEN) last posted its quarterly earnings data on Tuesday, October 30th. The software maker reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The company had revenue of $154.83 million for the quarter, compared to analysts’ expectations of $151.78 million. Zendesk had a negative net margin of 22.64% and a negative return on equity of 26.15%. Zendesk’s revenue for the quarter was up 37.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.02) earnings per share. As a group, sell-side analysts predict that Zendesk Inc will post -0.92 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on the stock. Wedbush assumed coverage on shares of Zendesk in a report on Thursday. They issued an “outperform” rating and a $71.00 price target on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $70.00 price target on shares of Zendesk in a report on Thursday, November 15th. Zacks Investment Research raised shares of Zendesk from a “sell” rating to a “hold” rating in a report on Saturday, November 3rd. UBS Group set a $56.00 price target on shares of Zendesk and gave the stock a “hold” rating in a report on Wednesday, October 31st. Finally, Deutsche Bank cut their price target on shares of Zendesk from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, October 31st. Four equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $66.11.
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, in applications, and on mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that for customer self-service and support agent productivity; Zendesk Message, a customer messaging software; and Zendesk Explore that makes customer data accessible across an organization.
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