Pier Capital LLC purchased a new position in Zendesk Inc (NYSE:ZEN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 161,510 shares of the software maker’s stock, valued at approximately $5,465,000. Pier Capital LLC owned 0.16% of Zendesk as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in ZEN. First Trust Advisors LP increased its holdings in shares of Zendesk by 7.7% in the third quarter. First Trust Advisors LP now owns 41,061 shares of the software maker’s stock worth $1,195,000 after purchasing an additional 2,934 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Zendesk in the third quarter worth $105,000. Swiss National Bank increased its holdings in shares of Zendesk by 2.4% in the third quarter. Swiss National Bank now owns 165,452 shares of the software maker’s stock worth $4,816,000 after purchasing an additional 3,800 shares during the period. Sei Investments Co. increased its holdings in shares of Zendesk by 86.5% in the third quarter. Sei Investments Co. now owns 28,544 shares of the software maker’s stock worth $831,000 after purchasing an additional 13,242 shares during the period. Finally, New York State Common Retirement Fund increased its stake in Zendesk by 9.1% in the third quarter. New York State Common Retirement Fund now owns 113,308 shares of the software maker’s stock valued at $3,298,000 after acquiring an additional 9,408 shares during the last quarter. 93.22% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Elizabeth A. Nelson sold 20,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $39.51, for a total value of $790,200.00. Following the completion of the transaction, the director now directly owns 63,833 shares of the company’s stock, valued at $2,522,041.83. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Adrian Mcdermott sold 40,000 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $43.54, for a total transaction of $1,741,600.00. Following the completion of the transaction, the insider now directly owns 121,465 shares of the company’s stock, valued at $5,288,586.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 196,858 shares of company stock valued at $7,930,928. 5.30% of the stock is currently owned by company insiders.
A number of research analysts recently commented on the company. Cowen increased their target price on Zendesk from $39.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Craig Hallum reissued a “buy” rating and issued a $45.00 target price (up previously from $37.00) on shares of Zendesk in a research note on Wednesday, February 7th. Guggenheim reissued a “buy” rating and issued a $44.00 target price on shares of Zendesk in a research note on Wednesday, February 7th. Bank of America increased their target price on Zendesk from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $46.00 target price 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 assigned a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $42.33.
Shares of Zendesk Inc (NYSE ZEN) opened at $45.95 on Tuesday. The stock has a market cap of $4,850.65, a PE ratio of -41.40 and a beta of 1.64. Zendesk Inc has a 1 year low of $24.49 and a 1 year high of $49.42.
Zendesk (NYSE:ZEN) last posted its earnings results on Tuesday, February 6th. The software maker reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.03. The company had revenue of $123.43 million during 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%. Zendesk’s revenue for the quarter was up 39.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.04) earnings per share. analysts forecast that Zendesk Inc will post -1 EPS for the current fiscal year.
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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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