Addison Capital Co lowered its stake in shares of Zendesk, Inc. (NYSE:ZEN) by 3.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,130 shares of the software maker’s stock after selling 129 shares during the quarter. Addison Capital Co’s holdings in Zendesk were worth $548,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Guggenheim Capital LLC raised its position in shares of Zendesk by 15.1% during the 3rd quarter. Guggenheim Capital LLC now owns 13,157 shares of the software maker’s stock worth $1,355,000 after purchasing an additional 1,727 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in Zendesk by 52.7% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 31,564 shares of the software maker’s stock valued at $3,249,000 after buying an additional 10,900 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in Zendesk in the 3rd quarter valued at about $331,000. Great West Life Assurance Co. Can boosted its position in Zendesk by 94.7% in the 3rd quarter. Great West Life Assurance Co. Can now owns 62,245 shares of the software maker’s stock valued at $6,405,000 after buying an additional 30,282 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its position in Zendesk by 265.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 245,367 shares of the software maker’s stock valued at $25,254,000 after buying an additional 178,268 shares during the last quarter. 97.39% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently weighed in on ZEN. Piper Sandler increased their price objective on shares of Zendesk from $162.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, February 5th. JMP Securities raised their price target on shares of Zendesk from $143.00 to $193.00 and gave the company an “outperform” rating in a research note on Friday, February 5th. Oppenheimer reiterated an “outperform” rating and set a $180.00 price objective (up previously from $170.00) on shares of Zendesk in a research note on Friday, February 5th. Morgan Stanley lifted their price target on shares of Zendesk from $165.00 to $181.00 and gave the stock an “overweight” rating in a research report on Friday, February 5th. Finally, Zacks Investment Research raised shares of Zendesk from a “sell” rating to a “hold” rating in a research note on Thursday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $143.31.
ZEN stock traded up $1.71 during trading hours on Monday, reaching $146.05. The stock had a trading volume of 10,634 shares, compared to its average volume of 1,292,239. The stock has a market capitalization of $17.29 billion, a PE ratio of -92.83 and a beta of 1.27. The company has a debt-to-equity ratio of 2.54, a current ratio of 2.73 and a quick ratio of 2.73. The stock has a 50-day simple moving average of $138.18 and a 200 day simple moving average of $132.77. Zendesk, Inc. has a fifty-two week low of $66.00 and a fifty-two week high of $166.60.
Zendesk (NYSE:ZEN) last posted its earnings results on Thursday, February 4th. The software maker reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.28. Zendesk had a negative net margin of 19.24% and a negative return on equity of 22.55%. The company had revenue of $283.50 million during the quarter, compared to analysts’ expectations of $277.38 million. On average, sell-side analysts forecast that Zendesk, Inc. will post -0.68 EPS for the current fiscal year.
In related news, CEO Mikkel Svane sold 43,875 shares of Zendesk stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $155.66, for a total transaction of $6,829,582.50. Following the sale, the chief executive officer now directly owns 833,854 shares in the company, valued at approximately $129,797,713.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Elena Gomez sold 5,000 shares of Zendesk stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $130.30, for a total transaction of $651,500.00. Following the sale, the chief financial officer now owns 13,593 shares in the company, valued at $1,771,167.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 122,128 shares of company stock worth $17,439,732. Insiders own 4.30% of the company’s stock.
Zendesk Company Profile
Zendesk, Inc, a software development company, provides software as a service solutions for organizations in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels.
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