Zendesk Inc (NYSE:ZEN) was the recipient of unusually large options trading activity on Wednesday. Investors acquired 1,191 put options on the company. This is an increase of 1,408% compared to the typical volume of 79 put options.

In related news, insider Adrian Mcdermott sold 1,679 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $34.39, for a total transaction of $57,740.81. Following the completion of the sale, the insider now directly owns 80,837 shares of the company’s stock, valued at approximately $2,779,984.43. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP John Geschke sold 5,000 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $34.23, for a total transaction of $171,150.00. Following the sale, the senior vice president now directly owns 16,495 shares of the company’s stock, valued at $564,623.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,699 shares of company stock valued at $3,201,988. 5.30% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Advisor Group Inc. lifted its position in shares of Zendesk by 44.3% during the second quarter. Advisor Group Inc. now owns 3,701 shares of the software maker’s stock worth $103,000 after purchasing an additional 1,137 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Zendesk during the third quarter worth about $105,000. Cerebellum GP LLC bought a new position in shares of Zendesk during the fourth quarter worth about $132,000. SG Americas Securities LLC bought a new position in shares of Zendesk during the third quarter worth about $193,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Zendesk by 47.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,723 shares of the software maker’s stock worth $194,000 after purchasing an additional 1,836 shares during the last quarter. 93.94% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently weighed in on ZEN shares. KeyCorp reaffirmed a “buy” rating and set a $35.00 price target on shares of Zendesk in a research report on Sunday, October 15th. Royal Bank of Canada reissued a “buy” rating and issued a $35.00 price objective on shares of Zendesk in a research report on Wednesday, October 18th. Morgan Stanley upped their price objective on shares of Zendesk from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, October 23rd. Wells Fargo & Co reissued an “outperform” rating and issued a $40.00 price objective (up from $32.00) on shares of Zendesk in a research report on Thursday, November 2nd. Finally, Canaccord Genuity upped their price objective on shares of Zendesk from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. Zendesk presently has an average rating of “Buy” and a consensus price target of $40.31.

Zendesk (ZEN) opened at $39.10 on Monday. Zendesk has a 12-month low of $24.49 and a 12-month high of $42.35. The company has a market cap of $3,968.92, a PE ratio of -35.23 and a beta of 1.87.

Zendesk (NYSE:ZEN) last issued its quarterly earnings results on Tuesday, February 6th. The software maker reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.03. Zendesk had a negative net margin of 25.70% and a negative return on equity of 32.88%. The business had revenue of $123.43 million for the quarter, compared to analysts’ expectations of $119.68 million. During the same quarter last year, the company posted ($0.04) earnings per share. The company’s quarterly revenue was up 39.3% compared to the same quarter last year. sell-side analysts predict that Zendesk will post -1 earnings per share for the current fiscal year.

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About Zendesk

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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