Zendesk Inc. (NYSE:ZEN) dropped 1.4% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $30.63 and last traded at $30.69, with a volume of 132,731 shares traded. The stock had previously closed at $31.14.
Specifically, SVP Adrian Mcdermott sold 68,470 shares of the company’s stock in a transaction dated Friday, July 8th. The stock was 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 directly owns 134,592 shares of the company’s stock, valued at approximately $3,777,997.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Mikkel Svane sold 150,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 3,421,984 shares in the company, valued at $104,678,490.56. The disclosure for this sale can be found here. 17.00% of the stock is owned by company insiders.
ZEN has been the topic of several research reports. Canaccord Genuity reaffirmed a “buy” rating on shares of Zendesk in a research report on Friday, June 10th. Zacks Investment Research lowered Zendesk from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 6th. Morgan Stanley increased their price objective on Zendesk from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 14th. Summit Research reissued a “buy” rating and set a $34.00 price objective on shares of Zendesk in a report on Monday, July 18th. Finally, Summit Redstone initiated coverage on Zendesk in a report on Monday, July 18th. They set a “buy” rating and a $34.00 price objective on the stock. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Zendesk currently has an average rating of “Buy” and an average target price of $32.73.
The company has a 50-day moving average of $30.55 and a 200-day moving average of $26.62. The company’s market capitalization is $2.85 billion.
Zendesk (NYSE:ZEN) last released its earnings results on Tuesday, August 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.03. The business had revenue of $74.20 million for the quarter, compared to the consensus estimate of $72.34 million. Zendesk had a negative return on equity of 30.61% and a negative net margin of 37.10%. Zendesk’s quarterly revenue was up 53.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.08) earnings per share. Analysts forecast that Zendesk Inc. will post ($0.04) earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its stake in Zendesk by 2.4% in the second quarter. PNC Financial Services Group Inc. now owns 10,338 shares of the company’s stock worth $272,000 after buying an additional 238 shares in the last quarter. EverPoint Asset Management LLC increased its stake in Zendesk by 1.9% in the second quarter. EverPoint Asset Management LLC now owns 132,509 shares of the company’s stock worth $3,496,000 after buying an additional 2,500 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in Zendesk by 10.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 30,950 shares of the company’s stock worth $816,000 after buying an additional 2,882 shares in the last quarter. Legal & General Group Plc increased its stake in Zendesk by 21.6% in the second quarter. Legal & General Group Plc now owns 18,243 shares of the company’s stock worth $480,000 after buying an additional 3,240 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Zendesk by 112.8% in the third quarter. BNP Paribas Arbitrage SA now owns 6,806 shares of the company’s stock worth $209,000 after buying an additional 3,607 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.
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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