Zendesk Inc (ZEN) Stake Increased by Point72 Asset Management L.P.

Point72 Asset Management L.P. lifted its position in Zendesk Inc (NYSE:ZEN) by 37.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 580,947 shares of the software maker’s stock after acquiring an additional 159,447 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.54% of Zendesk worth $41,247,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZEN. FIL Ltd bought a new stake in shares of Zendesk in the 3rd quarter worth $87,586,000. Alliancebernstein L.P. grew its stake in shares of Zendesk by 683.9% in the 3rd quarter. Alliancebernstein L.P. now owns 1,070,764 shares of the software maker’s stock worth $76,024,000 after acquiring an additional 934,164 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Zendesk by 87,251.3% in the 3rd quarter. Victory Capital Management Inc. now owns 776,553 shares of the software maker’s stock worth $55,135,000 after acquiring an additional 775,664 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Zendesk by 369.5% in the 3rd quarter. First Trust Advisors LP now owns 948,098 shares of the software maker’s stock worth $67,315,000 after acquiring an additional 746,170 shares in the last quarter. Finally, Cadian Capital Management LP grew its stake in shares of Zendesk by 275.9% in the 2nd quarter. Cadian Capital Management LP now owns 963,339 shares of the software maker’s stock worth $52,492,000 after acquiring an additional 707,039 shares in the last quarter. Hedge funds and other institutional investors own 92.86% of the company’s stock.

Several analysts have recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Zendesk from $60.00 to $68.00 and gave the stock a “hold” rating in a research note on Tuesday, September 11th. Jefferies Financial Group assumed coverage on shares of Zendesk in a research note on Monday, October 1st. They issued a “buy” rating and a $82.00 target price for the company. Morgan Stanley upped their target price on shares of Zendesk from $72.00 to $84.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 18th. Deutsche Bank assumed coverage on shares of Zendesk in a research note on Monday, October 8th. They issued a “buy” rating and a $85.00 target price for the company. Finally, Wedbush assumed coverage on shares of Zendesk in a research note on Thursday, December 6th. They issued an “outperform” rating and a $71.00 target price for the company. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Zendesk currently has a consensus rating of “Buy” and an average target price of $66.11.

In other Zendesk news, CFO Elena Gomez sold 500 shares of the company’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $67.20, for a total transaction of $33,600.00. Following the sale, the chief financial officer now directly owns 18,062 shares of the company’s stock, valued at $1,213,766.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director L Michelle Wilson sold 414 shares of the company’s stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $62.58, for a total transaction of $25,908.12. Following the sale, the director now directly owns 171,489 shares in the company, valued at $10,731,781.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,739 shares of company stock valued at $6,034,798. 4.70% of the stock is owned by company insiders.

ZEN opened at $59.86 on Friday. The stock has a market cap of $6.55 billion, a P/E ratio of -58.12 and a beta of 1.85. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.78 and a quick ratio of 1.79. Zendesk Inc has a fifty-two week low of $33.13 and a fifty-two week high of $72.76.

Zendesk (NYSE:ZEN) last posted its quarterly earnings results on Tuesday, October 30th. The software maker reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.05. The company had revenue of $154.83 million during the quarter, compared to analyst estimates of $151.78 million. Zendesk had a negative net margin of 22.64% and a negative return on equity of 26.15%. The firm’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) earnings per share. Analysts predict that Zendesk Inc will post -0.92 earnings per share for the current year.

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Zendesk Company Profile

Zendesk, Inc, a software development company, provides SaaS products for organizations. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels. The company also offers Zendesk Chat, a live chat software to connect with customers on Websites, in applications, and on mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that for customer self-service and support agent productivity; Zendesk Message, a customer messaging software; and Zendesk Explore that makes customer data accessible across an organization.

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Institutional Ownership by Quarter for Zendesk (NYSE:ZEN)

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