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.
WARNING: This story was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this story on another website, it was stolen and republished in violation of United States and international copyright and trademark laws. The correct version of this story can be viewed at https://ledgergazette.com/2017/11/15/zendesk-inc-zen-shares-sold-by-sumitomo-mitsui-asset-management-company-ltd-2.html.
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.
Receive News & Ratings for Zendesk Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zendesk Inc. and related companies with MarketBeat.com's FREE daily email newsletter.