Glynn Capital Management LLC raised its stake in shares of Zendesk Inc. (NYSE:ZEN) by 5.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 172,910 shares of the company’s stock after buying an additional 8,390 shares during the period. Zendesk accounts for approximately 1.5% of Glynn Capital Management LLC’s portfolio, making the stock its 18th largest position. Glynn Capital Management LLC’s holdings in Zendesk were worth $4,561,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of ZEN. Essex Investment Management Co. LLC raised its position in shares of Zendesk by 649.4% in the second quarter. Essex Investment Management Co. LLC now owns 119,346 shares of the company’s stock worth $3,148,000 after buying an additional 103,421 shares during the last quarter. Strs Ohio raised its position in shares of Zendesk by 121.3% in the second quarter. Strs Ohio now owns 46,700 shares of the company’s stock worth $1,231,000 after buying an additional 25,600 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Zendesk during the second quarter worth about $346,000. Hamilton Lane Advisors LLC raised its position in shares of Zendesk by 39.8% in the second quarter. Hamilton Lane Advisors LLC now owns 80,763 shares of the company’s stock worth $1,978,000 after buying an additional 22,983 shares during the last quarter. Finally, Thrax Management LLC raised its position in shares of 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 last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.
Shares of Zendesk Inc. (NYSE:ZEN) traded down 3.41% during mid-day trading on Monday, hitting $26.65. The company had a trading volume of 661,710 shares. Zendesk Inc. has a one year low of $14.39 and a one year high of $31.88. The firm’s 50-day moving average price is $30.00 and its 200 day moving average price is $27.10. The company’s market capitalization is $2.50 billion.
Zendesk (NYSE:ZEN) last issued its earnings results on Tuesday, August 2nd. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.03. The company earned $74.20 million during the quarter, compared to analysts’ expectations of $72.34 million. Zendesk had a negative net margin of 37.10% and a negative return on equity of 30.61%. The business’s revenue for the quarter was up 53.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) EPS. Analysts predict that Zendesk Inc. will post ($0.04) earnings per share for the current fiscal year.
A number of equities analysts have issued reports on the company. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $35.00 price target on shares of Zendesk in a research note on Saturday, August 13th. Zacks Investment Research raised Zendesk from a “hold” rating to a “strong-buy” rating and set a $35.00 price objective for the company in a research note on Thursday, August 11th. Morgan Stanley raised their price objective on Zendesk from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, July 14th. Summit Research reissued a “buy” rating and set a $34.00 price objective on shares of Zendesk in a research note on Monday, July 18th. Finally, Stifel Nicolaus began coverage on Zendesk in a research note on Monday, July 18th. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $32.73.
In other Zendesk news, Chairman Mikkel Svane sold 150,000 shares of the company’s stock in a transaction on Friday, August 12th. The shares were 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 approximately $104,678,490.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Adrian Mcdermott sold 1,245 shares of the company’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 sale, the senior vice president now owns 84,843 shares of the company’s stock, valued at approximately $2,395,966.32. The disclosure for this sale can be found here. Company insiders own 17.00% of the company’s stock.
Zendesk Company Profile
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.
Want to see what other hedge funds are holding ZEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zendesk Inc. (NYSE:ZEN).
Receive News & Ratings for Zendesk Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zendesk Inc. and related companies with MarketBeat.com's FREE daily email newsletter.