Millennium Management LLC raised its stake in shares of Zendesk Inc (NYSE:ZEN) by 64.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 329,539 shares of the software maker’s stock after purchasing an additional 128,862 shares during the quarter. Millennium Management LLC owned about 0.32% of Zendesk worth $11,152,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of ZEN. Cerebellum GP LLC acquired a new position in Zendesk during the 4th quarter valued at approximately $132,000. SG Americas Securities LLC acquired a new position in Zendesk during the 3rd quarter valued at approximately $193,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Zendesk by 47.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,723 shares of the software maker’s stock valued at $194,000 after purchasing an additional 1,836 shares in the last quarter. First Mercantile Trust Co. acquired a new position in Zendesk during the 4th quarter valued at approximately $210,000. Finally, Invictus RG acquired a new position in Zendesk during the 4th quarter valued at approximately $268,000. Institutional investors and hedge funds own 93.22% of the company’s stock.
A number of research analysts have issued reports on the stock. ValuEngine upgraded shares of Zendesk from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Royal Bank of Canada reiterated a “buy” rating and issued a $42.00 price objective on shares of Zendesk in a research note on Wednesday, January 17th. Piper Jaffray reiterated a “buy” rating and issued a $42.00 price objective on shares of Zendesk in a research note on Tuesday, January 23rd. Bank of America increased their price objective 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, Zacks Investment Research upgraded shares of Zendesk from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research note on Sunday, January 21st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Zendesk presently has a consensus rating of “Buy” and a consensus price target of $42.33.
Zendesk (NYSE:ZEN) last released its quarterly earnings results on Tuesday, February 6th. The software maker reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. The company had revenue of $123.43 million for the quarter, compared to analyst estimates of $119.68 million. Zendesk had a negative net margin of 25.70% and a negative return on equity of 32.48%. The firm’s revenue was up 39.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.04) earnings per share. equities analysts expect that Zendesk Inc will post -1 EPS for the current year.
In related news, SVP John Geschke sold 10,000 shares of the firm’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $37.27, for a total transaction of $372,700.00. Following the sale, the senior vice president now owns 16,795 shares in the company, valued at $625,949.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Adrian Mcdermott sold 1,593 shares of the firm’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $36.27, for a total transaction of $57,778.11. Following the sale, the insider now owns 81,081 shares in the company, valued at approximately $2,940,807.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,936 shares of company stock worth $8,032,434. 5.30% of the stock is owned by company insiders.
Zendesk, Inc, a software development company, provides SaaS products for organizations. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels. The company also offers Zendesk Chat, a live chat software to connect with customers on Websites, in applications, and on mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that for customer self-service and support agent productivity; Zendesk Message, a customer messaging software; and Zendesk Explore that makes customer data accessible across an organization.
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