Emerald Acquisition Ltd. purchased a new position in shares of Zendesk Inc. (NYSE:ZEN) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 82,452 shares of the company’s stock, valued at approximately $2,176,000. Emerald Acquisition Ltd. owned 0.09% of Zendesk at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Suntrust Banks Inc. bought a new stake in shares of Zendesk during the second quarter worth $282,000. Fox Run Management L.L.C. bought a new stake in shares of Zendesk during the second quarter worth $346,000. Legal & General Group Plc boosted its stake in shares of Zendesk by 27.5% in the first quarter. Legal & General Group Plc now owns 15,003 shares of the company’s stock worth $310,000 after buying an additional 3,240 shares during the period. Barclays PLC boosted its stake in shares of Zendesk by 128.3% in the first quarter. Barclays PLC now owns 37,882 shares of the company’s stock worth $758,000 after buying an additional 21,291 shares during the period. Finally, Strs Ohio boosted its stake 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 period. Hedge funds and other institutional investors own 83.66% of the company’s stock.
Zendesk Inc. (NYSE:ZEN) traded down 1.97% during trading on Thursday, reaching $30.38. The company’s stock had a trading volume of 282,333 shares. The stock’s market cap is $2.85 billion. Zendesk Inc. has a 52-week low of $14.39 and a 52-week high of $31.88. The firm has a 50 day moving average price of $30.49 and a 200-day moving average price of $26.23.
Zendesk (NYSE:ZEN) last announced its quarterly earnings data 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. The firm earned $74.20 million during the quarter, compared to analysts’ expectations of $72.34 million. Zendesk had a negative return on equity of 30.61% and a negative net margin of 37.10%. The company’s quarterly revenue was up 53.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.08) EPS. On average, analysts expect that Zendesk Inc. will post ($0.04) earnings per share for the current year.
A number of brokerages have weighed in on ZEN. Morgan Stanley reiterated a “buy” rating on shares of Zendesk in a research report on Sunday, July 17th. Zacks Investment Research upgraded Zendesk from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Thursday, July 7th. RBC Capital Markets restated an “outperform” rating and set a $33.00 target price (up previously from $27.00) on shares of Zendesk in a report on Wednesday, July 27th. Summit Redstone began coverage on Zendesk in a report on Monday, July 18th. They set a “buy” rating and a $34.00 target price on the stock. Finally, Stifel Nicolaus began coverage on Zendesk in a report on Monday, July 18th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $32.73.
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 value of $4,588,500.00. Following the transaction, 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 SEC, which is available at the SEC website. Also, Director Caryn Marooney sold 32,033 shares of Zendesk stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $30.09, for a total value of $963,872.97. Following the completion of the transaction, the director now owns 53,958 shares in the company, valued at approximately $1,623,596.22. The disclosure for this sale can be found here. 17.00% of the stock is owned by company insiders.
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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