Pacad Investment Ltd. decreased its position in shares of Zendesk, Inc. (NYSE:ZEN) by 40.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,963 shares of the software maker’s stock after selling 9,400 shares during the quarter. Pacad Investment Ltd.’s holdings in Zendesk were worth $388,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. acquired a new position in shares of Zendesk during the first quarter valued at $103,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Zendesk by 10.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,887 shares of the software maker’s stock valued at $108,000 after acquiring an additional 352 shares during the period. Fortaleza Asset Management Inc. acquired a new position in shares of Zendesk during the second quarter valued at $115,000. Independent Portfolio Consultants Inc. acquired a new position in shares of Zendesk during the second quarter valued at $153,000. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of Zendesk during the first quarter valued at $197,000. 96.07% of the stock is owned by institutional investors.
Shares of Zendesk, Inc. (NYSE:ZEN) opened at 28.06 on Friday. Zendesk, Inc. has a one year low of $19.77 and a one year high of $31.36. The firm has a 50-day moving average of $27.66 and a 200-day moving average of $27.66. The firm’s market capitalization is $2.82 billion.
Zendesk (NYSE:ZEN) last issued its earnings results on Thursday, August 3rd. The software maker reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.20). Zendesk had a negative return on equity of 32.10% and a negative net margin of 29.34%. The company had revenue of $101.30 million for the quarter, compared to the consensus estimate of $99.47 million. During the same quarter last year, the business posted ($0.06) EPS. Zendesk’s quarterly revenue was up 36.5% on a year-over-year basis. On average, equities analysts predict that Zendesk, Inc. will post ($0.17) earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on the stock. ValuEngine raised shares of Zendesk from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Zendesk in a report on Tuesday, September 12th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Zendesk in a report on Friday, July 21st. Zacks Investment Research downgraded shares of Zendesk from a “hold” rating to a “sell” rating in a report on Friday, June 23rd. Finally, KeyCorp reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Zendesk in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $33.09.
In other Zendesk news, CFO Elena Gomez sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $28.87, for a total transaction of $34,644.00. Following the transaction, the chief financial officer now owns 3,620 shares in the company, valued at $104,509.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Adrian Mcdermott sold 1,766 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $26.42, for a total value of $46,657.72. Following the transaction, the insider now owns 80,435 shares in the company, valued at approximately $2,125,092.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,285 shares of company stock worth $3,331,273. Company insiders own 5.30% of the company’s stock.
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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