Oppenheimer Asset Management Inc. bought a new position in shares of Zendesk, Inc. (NYSE:ZEN) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,675 shares of the software maker’s stock, valued at approximately $103,000.
Other hedge funds have also added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new stake in Zendesk during the first quarter worth about $197,000. Parallel Advisors LLC raised its stake in Zendesk by 5.3% in the first quarter. Parallel Advisors LLC now owns 7,975 shares of the software maker’s stock worth $233,000 after buying an additional 400 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in Zendesk during the first quarter worth about $282,000. Marshall Wace North America L.P. acquired a new stake in Zendesk during the first quarter worth about $282,000. Finally, Principal Financial Group Inc. raised its stake in Zendesk by 2.5% in the first quarter. Principal Financial Group Inc. now owns 11,605 shares of the software maker’s stock worth $325,000 after buying an additional 283 shares during the last quarter. Institutional investors own 91.85% of the company’s stock.
Zendesk, Inc. (NYSE:ZEN) opened at 28.07 on Tuesday. The firm’s market capitalization is $2.78 billion. Zendesk, Inc. has a 52-week low of $19.77 and a 52-week high of $31.88. The firm’s 50-day moving average is $26.92 and its 200 day moving average is $26.17.
Zendesk (NYSE:ZEN) last issued its quarterly earnings results on Thursday, May 4th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. Zendesk had a negative net margin of 30.79% and a negative return on equity of 31.90%. The firm had revenue of $93.01 million for the quarter, compared to analyst estimates of $92.46 million. During the same period in the previous year, the business earned ($0.08) EPS. The company’s revenue was up 35.9% compared to the same quarter last year. Equities analysts anticipate that Zendesk, Inc. will post ($0.18) EPS for the current year.
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A number of research firms have recently issued reports on ZEN. UBS AG restated a “buy” rating and issued a $38.00 target price (up previously from $36.00) on shares of Zendesk in a report on Friday, May 5th. Zacks Investment Research upgraded Zendesk from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. William Blair restated an “outperform” rating on shares of Zendesk in a report on Monday, April 3rd. BidaskClub lowered Zendesk from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Finally, Guggenheim began coverage on Zendesk in a report on Wednesday, April 12th. They issued a “buy” rating for the company. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Zendesk presently has an average rating of “Buy” and a consensus target price of $33.17.
In other Zendesk news, insider Adrian Mcdermott sold 1,766 shares of Zendesk stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $28.20, for a total value of $49,801.20. Following the sale, the insider now directly owns 80,000 shares in the company, valued at approximately $2,256,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John Geschke sold 8,334 shares of Zendesk stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $30.06, for a total transaction of $250,520.04. Following the completion of the sale, the senior vice president now owns 16,380 shares in the company, valued at $492,382.80. The disclosure for this sale can be found here. Insiders sold a total of 140,475 shares of company stock worth $3,816,698 over the last quarter. 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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