BNP Paribas Arbitrage SA increased its position in shares of Zendesk Inc. (NYSE:ZEN) by 112.8% during the third quarter, Holdings Channel reports. The institutional investor owned 6,806 shares of the company’s stock after buying an additional 3,607 shares during the period. BNP Paribas Arbitrage SA’s holdings in Zendesk were worth $209,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the stock. Macquarie Group Ltd. increased its position in Zendesk by 12.9% in the second quarter. Macquarie Group Ltd. now owns 135,004 shares of the company’s stock valued at $3,561,000 after buying an additional 15,431 shares during the period. KAMES CAPITAL plc acquired a new position in Zendesk during the second quarter valued at approximately $3,831,000. Schwab Charles Investment Management Inc. increased its position in Zendesk by 30.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 248,756 shares of the company’s stock valued at $6,563,000 after buying an additional 57,360 shares during the period. Amalgamated Bank acquired a new position in Zendesk during the second quarter valued at approximately $264,000. Finally, Legal & General Group Plc increased its position in Zendesk by 21.6% in the second quarter. Legal & General Group Plc now owns 18,243 shares of the company’s stock valued at $480,000 after buying an additional 3,240 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.
Shares of Zendesk Inc. (NYSE:ZEN) traded down 1.16% during mid-day trading on Wednesday, hitting $30.78. 50,306 shares of the stock were exchanged. Zendesk Inc. has a 12 month low of $14.39 and a 12 month high of $31.88. The stock’s 50 day moving average is $30.53 and its 200 day moving average is $26.60. The firm’s market cap is $2.89 billion.
Zendesk (NYSE:ZEN) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.03. Zendesk had a negative return on equity of 30.61% and a negative net margin of 37.10%. The company had revenue of $74.20 million for the quarter, compared to analyst estimates of $72.34 million. During the same quarter in the prior year, the firm posted ($0.08) EPS. Zendesk’s quarterly revenue was up 53.9% compared to the same quarter last year. Analysts expect that Zendesk Inc. will post ($0.04) EPS for the current fiscal year.
ZEN has been the topic of several analyst reports. Canaccord Genuity reaffirmed a “buy” rating and issued a $35.00 target price on shares of Zendesk in a research note on Thursday, August 4th. Summit Redstone initiated coverage on shares of Zendesk in a research note on Monday, July 18th. They issued a “buy” rating and a $34.00 target price on the stock. Summit Research reaffirmed a “buy” rating and issued a $34.00 target price on shares of Zendesk in a research note on Monday, July 18th. Morgan Stanley reaffirmed a “buy” rating on shares of Zendesk in a research note on Sunday, July 17th. Finally, Zacks Investment Research raised shares of Zendesk from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research note on Thursday, July 7th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $32.73.
In related news, Director Caryn Marooney sold 32,033 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $30.09, for a total transaction of $963,872.97. Following the sale, the director now owns 53,958 shares in the company, valued at approximately $1,623,596.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mikkel Svane sold 150,000 shares of the stock in a transaction on Friday, August 12th. The shares were sold at an average price of $30.59, for a total value of $4,588,500.00. Following the sale, the chairman now owns 3,421,984 shares in the company, valued at approximately $104,678,490.56. The disclosure for this sale can be found here. Corporate 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.
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