United Services Automobile Association reduced its position in shares of Zendesk, Inc. (NYSE:ZEN) by 40.0% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 10,790 shares of the software maker’s stock after selling 7,200 shares during the period. United Services Automobile Association’s holdings in Zendesk were worth $303,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in ZEN. Alliancebernstein L.P. boosted its stake in Zendesk by 141.1% in the first quarter. Alliancebernstein L.P. now owns 319,950 shares of the software maker’s stock worth $8,971,000 after buying an additional 187,240 shares during the last quarter. Gilder Gagnon Howe & Co. LLC boosted its stake in Zendesk by 29.2% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 230,572 shares of the software maker’s stock worth $6,465,000 after buying an additional 52,169 shares during the last quarter. Neuberger Berman Group LLC acquired a new stake in Zendesk during the first quarter worth about $855,000. American International Group Inc. boosted its stake in Zendesk by 5.2% in the first quarter. American International Group Inc. now owns 49,128 shares of the software maker’s stock worth $1,378,000 after buying an additional 2,431 shares during the last quarter. Finally, EAM Investors LLC acquired a new stake in Zendesk during the first quarter worth about $2,795,000. 92.12% of the stock is owned by institutional investors.
Shares of Zendesk, Inc. (ZEN) traded down 1.74% during trading on Friday, reaching $30.01. The company’s stock had a trading volume of 1,065,504 shares. The stock has a 50-day moving average of $28.19 and a 200-day moving average of $27.10. The stock’s market cap is $2.97 billion. Zendesk, Inc. has a 52-week low of $19.77 and a 52-week high of $31.88.
Zendesk (NYSE:ZEN) last posted its earnings results on Thursday, May 4th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.01. The firm had revenue of $93.01 million for the quarter, compared to the consensus estimate of $92.46 million. Zendesk had a negative return on equity of 31.90% and a negative net margin of 30.79%. The business’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.08) earnings per share. Analysts predict that Zendesk, Inc. will post ($0.18) earnings per share for the current fiscal year.
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A number of research firms have recently issued reports on ZEN. Stifel Nicolaus reaffirmed a “hold” rating on shares of Zendesk in a research report on Friday, July 21st. Zacks Investment Research raised Zendesk from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub cut Zendesk from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. UBS AG reissued a “buy” rating and set a $38.00 price target (up from $36.00) on shares of Zendesk in a report on Friday, May 5th. Finally, Guggenheim reissued a “buy” rating and set a $33.00 price target on shares of Zendesk in a report on Tuesday, April 18th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $33.00.
In related news, insider Adrian Mcdermott sold 2,870 shares of the stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $24.98, for a total value of $71,692.60. Following the sale, the insider now owns 80,000 shares in the company, valued at $1,998,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP John Geschke sold 5,000 shares of the stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $29.02, for a total value of $145,100.00. Following the completion of the sale, the senior vice president now owns 15,202 shares in the company, valued at approximately $441,162.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 145,475 shares of company stock worth $3,963,405. Company insiders own 5.30% of the company’s stock.
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.
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