State Street Corp increased its stake in shares of Zendesk Inc (NYSE:ZEN) by 4.4% during the fourth quarter, Holdings Channel reports. The firm owned 1,429,403 shares of the company’s stock after buying an additional 60,651 shares during the period. State Street Corp’s holdings in Zendesk were worth $30,304,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of ZEN. Parametrica Management Ltd bought a new stake in shares of Zendesk during the third quarter valued at about $213,000. Princeton Alpha Management LP bought a new stake in shares of Zendesk during the third quarter valued at about $229,000. BlackRock Inc. boosted its stake in shares of Zendesk by 1.7% in the third quarter. BlackRock Inc. now owns 7,809 shares of the company’s stock valued at $240,000 after buying an additional 134 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Zendesk during the third quarter valued at about $261,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Zendesk during the fourth quarter valued at about $308,000. Institutional investors and hedge funds own 87.19% of the company’s stock.
Shares of Zendesk Inc (NYSE:ZEN) opened at 26.86 on Monday. Zendesk Inc has a 1-year low of $19.16 and a 1-year high of $31.88. The company’s market capitalization is $2.61 billion. The firm’s 50-day moving average price is $27.11 and its 200 day moving average price is $25.67.
Zendesk (NYSE:ZEN) last issued its quarterly earnings results on Wednesday, February 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. Zendesk had a negative net margin of 33.27% and a negative return on equity of 32.71%. The company earned $88.60 million during the quarter, compared to analyst estimates of $87.36 million. During the same quarter last year, the business posted ($0.07) EPS. Zendesk’s quarterly revenue was up 41.5% compared to the same quarter last year. Equities analysts predict that Zendesk Inc will post ($0.17) EPS for the current fiscal year.
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Several brokerages recently issued reports on ZEN. Wells Fargo & Co began coverage on Zendesk in a research note on Wednesday, January 11th. They issued an “outperform” rating for the company. William Blair reiterated an “outperform” rating on shares of Zendesk in a research note on Friday, February 10th. JMP Securities reiterated an “outperform” rating and issued a $31.00 price target on shares of Zendesk in a research note on Tuesday, January 17th. Zacks Investment Research upgraded Zendesk from a “hold” rating to a “strong-buy” rating and set a $32.00 price target for the company in a research note on Wednesday, February 15th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $32.00 price target on shares of Zendesk in a research note on Friday, February 10th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $32.42.
In other news, Director Caryn Marooney sold 1,693 shares of the firm’s stock in a transaction that occurred on Monday, January 30th. The shares were sold at an average price of $23.50, for a total transaction of $39,785.50. Following the completion of the sale, the director now owns 33,373 shares in the company, valued at approximately $784,265.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Adrian Mcdermott sold 1,590 shares of the firm’s stock in a transaction that occurred on Friday, January 20th. The stock was sold at an average price of $23.75, for a total transaction of $37,762.50. Following the sale, the insider now owns 80,000 shares of the company’s stock, valued at approximately $1,900,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 56,742 shares of company stock valued at $1,394,247. 17.00% of the stock is currently owned by company insiders.
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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