Sumitomo Mitsui Asset Management Company LTD Sells 148,195 Shares of Zendesk, Inc. (NYSE:ZEN)

Sumitomo Mitsui Asset Management Company LTD cut its stake in Zendesk, Inc. (NYSE:ZEN) by 7.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,879,600 shares of the software maker’s stock after selling 148,195 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD owned 1.87% of Zendesk worth $54,715,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Pictet Asset Management Ltd. increased its position in shares of Zendesk by 40.8% during the third quarter. Pictet Asset Management Ltd. now owns 747,990 shares of the software maker’s stock valued at $21,774,000 after acquiring an additional 216,761 shares during the last quarter. Peregrine Capital Management LLC grew its holdings in Zendesk by 3.5% during the third quarter. Peregrine Capital Management LLC now owns 837,763 shares of the software maker’s stock valued at $24,387,000 after purchasing an additional 28,508 shares during the period. Calamos Advisors LLC grew its holdings in Zendesk by 8.8% during the third quarter. Calamos Advisors LLC now owns 1,645,329 shares of the software maker’s stock valued at $47,896,000 after purchasing an additional 133,346 shares during the period. First Trust Advisors LP grew its holdings in Zendesk by 7.7% during the third quarter. First Trust Advisors LP now owns 41,061 shares of the software maker’s stock valued at $1,195,000 after purchasing an additional 2,934 shares during the period. Finally, Wasatch Advisors Inc. grew its holdings in Zendesk by 26.5% during the second quarter. Wasatch Advisors Inc. now owns 3,919,479 shares of the software maker’s stock valued at $108,883,000 after purchasing an additional 820,465 shares during the period. 95.49% of the stock is owned by institutional investors.

Several equities analysts have weighed in on ZEN shares. Royal Bank Of Canada reissued a “buy” rating and set a $35.00 price objective on shares of Zendesk in a report on Wednesday, October 18th. Evercore ISI began coverage on Zendesk in a report on Friday, September 8th. They issued an “outperform” rating and a $34.00 price target for the company. Zacks Investment Research lowered Zendesk from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. KeyCorp reissued a “buy” rating and set a $35.00 price objective on shares of Zendesk in a research note on Friday, August 4th. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $40.00 price objective (up previously from $32.00) on shares of Zendesk in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $34.13.

Zendesk, Inc. (NYSE ZEN) opened at $34.92 on Wednesday. Zendesk, Inc. has a 1 year low of $19.77 and a 1 year high of $35.89.

Zendesk (NYSE:ZEN) last released its quarterly earnings data on Wednesday, November 1st. The software maker reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.04. Zendesk had a negative net margin of 24.55% and a negative return on equity of 36.17%. The firm had revenue of $112.79 million for the quarter, compared to the consensus estimate of $109.19 million. During the same period last year, the firm earned ($0.04) earnings per share. The company’s quarterly revenue was up 39.7% on a year-over-year basis. research analysts predict that Zendesk, Inc. will post -1.03 earnings per share for the current year.

In other Zendesk news, SVP John Geschke sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $29.33, for a total value of $293,300.00. Following the completion of the sale, the senior vice president now directly owns 20,595 shares in the company, valued at $604,051.35. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Elena Gomez sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $28.87, for a total transaction of $34,644.00. Following the completion of the sale, the chief financial officer now owns 3,620 shares of the company’s stock, valued at $104,509.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,392 shares of company stock worth $2,854,076. Insiders own 5.30% of the company’s stock.

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Zendesk Company Profile

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.

Institutional Ownership by Quarter for Zendesk (NYSE:ZEN)

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