BlackRock Inc. cut its holdings in Zendesk Inc (NYSE:ZEN) by 34.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,265,195 shares of the software maker’s stock after selling 3,886,664 shares during the period. BlackRock Inc. owned about 0.07% of Zendesk worth $245,854,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Canada Pension Plan Investment Board bought a new position in Zendesk during the 3rd quarter valued at about $105,000. Cerebellum GP LLC bought a new position in Zendesk in the 4th quarter worth about $132,000. SG Americas Securities LLC bought a new position in Zendesk in the 3rd quarter worth about $193,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Zendesk by 47.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,723 shares of the software maker’s stock worth $194,000 after acquiring an additional 1,836 shares in the last quarter. Finally, First Mercantile Trust Co. bought a new position in Zendesk in the 4th quarter worth about $210,000. Hedge funds and other institutional investors own 93.22% of the company’s stock.
In other news, insider Adrian Mcdermott sold 1,353 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $34.19, for a total value of $46,259.07. Following the completion of the sale, the insider now owns 80,948 shares of the company’s stock, valued at approximately $2,767,612.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Geschke sold 787 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $35.05, for a total transaction of $27,584.35. Following the completion of the sale, the senior vice president now directly owns 12,582 shares of the company’s stock, valued at approximately $440,999.10. The disclosure for this sale can be found here. Insiders sold a total of 201,858 shares of company stock valued at $8,102,078 in the last ninety days. Corporate insiders own 5.30% of the company’s stock.
Zendesk (NYSE:ZEN) last announced its quarterly earnings results on Tuesday, February 6th. The software maker reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. Zendesk had a negative net margin of 25.70% and a negative return on equity of 32.48%. The firm had revenue of $123.43 million during the quarter, compared to analysts’ expectations of $119.68 million. During the same quarter in the prior year, the company earned ($0.04) EPS. The company’s revenue was up 39.3% compared to the same quarter last year. analysts predict that Zendesk Inc will post -1 earnings per share for the current year.
A number of brokerages have commented on ZEN. Piper Jaffray Companies upped their target price on shares of Zendesk to $60.00 and gave the stock an “overweight” rating in a research note on Monday. Morgan Stanley upped their target price on shares of Zendesk from $41.00 to $48.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. KeyCorp upped their target price on shares of Zendesk from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Bank of America upped their target price on shares of Zendesk from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Finally, Craig Hallum restated a “buy” rating and issued a $45.00 target price (up from $37.00) on shares of Zendesk in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $41.67.
Zendesk, Inc (Zendesk) is a software development company. The Zendesk family of products is built to work together to help organizations understand and manage customer relationships. All Zendesk products share a common interface and are being developed to support a shared services infrastructure and common customer data platform.
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