Great West Life Assurance Co. Can held its position in Zendesk Inc. (NYSE:ZEN) during the second quarter, Holdings Channel reports. The fund owned 6,236 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Zendesk were worth $130,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Emerald Acquisition Ltd. acquired a new position in Zendesk during the second quarter valued at $2,176,000. Swiss National Bank increased its position in Zendesk by 49.4% in the second quarter. Swiss National Bank now owns 117,752 shares of the company’s stock valued at $3,106,000 after buying an additional 38,952 shares during the period. Suntrust Banks Inc. acquired a new position in Zendesk during the second quarter valued at $282,000. California State Teachers Retirement System increased its position in Zendesk by 42.1% in the second quarter. California State Teachers Retirement System now owns 170,480 shares of the company’s stock valued at $4,497,000 after buying an additional 50,473 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Zendesk by 29.7% in the second quarter. Bank of New York Mellon Corp now owns 363,859 shares of the company’s stock valued at $9,599,000 after buying an additional 83,274 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.
Zendesk Inc. (NYSE:ZEN) traded down 2.99% during midday trading on Friday, hitting $29.82. The stock had a trading volume of 642,849 shares. The stock’s market cap is $2.80 billion. The company’s 50-day moving average price is $30.51 and its 200 day moving average price is $25.97. Zendesk Inc. has a 12-month low of $14.39 and a 12-month high of $31.88.
Zendesk (NYSE:ZEN) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $74.20 million for the quarter, compared to the consensus estimate of $72.34 million. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Zendesk’s revenue for the quarter was up 53.9% compared to the same quarter last year. On average, equities research analysts predict that Zendesk Inc. will post ($0.04) earnings per share for the current fiscal year.
Several research firms recently weighed in on ZEN. Zacks Investment Research downgraded Zendesk from a “buy” rating to a “hold” rating in a research report on Tuesday, September 20th. Piper Jaffray Cos. restated an “overweight” rating and issued a $35.00 price objective on shares of Zendesk in a report on Saturday, August 13th. Canaccord Genuity restated a “buy” rating and issued a $35.00 price objective on shares of Zendesk in a report on Thursday, August 4th. RBC Capital Markets restated an “outperform” rating and issued a $33.00 price objective (up from $27.00) on shares of Zendesk in a report on Wednesday, July 27th. Finally, Royal Bank Of Canada raised their price objective on Zendesk from $27.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Zendesk presently has a consensus rating of “Buy” and a consensus price target of $32.40.
In other news, Chairman Mikkel Svane sold 150,000 shares of Zendesk stock in a transaction on Friday, August 12th. The stock was sold at an average price of $30.59, for a total transaction of $4,588,500.00. Following the transaction, the chairman now owns 3,421,984 shares in the company, valued at $104,678,490.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Adrian Mcdermott sold 68,470 shares of Zendesk stock in a transaction on Friday, July 8th. The shares were sold at an average price of $28.07, for a total value of $1,921,952.90. Following the transaction, the senior vice president now owns 134,592 shares in the company, valued at approximately $3,777,997.44. The disclosure for this sale can be found here. 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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