Pier Capital LLC lowered its position in Zendesk Inc (NYSE:ZEN) by 28.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,939 shares of the software maker’s stock after selling 49,976 shares during the quarter. Pier Capital LLC owned approximately 0.12% of Zendesk worth $6,971,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP purchased a new position in Zendesk in the first quarter valued at about $5,235,000. Ardevora Asset Management LLP purchased a new position in Zendesk in the second quarter valued at about $32,861,000. Schwab Charles Investment Management Inc. grew its stake in Zendesk by 10.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 540,022 shares of the software maker’s stock valued at $25,851,000 after purchasing an additional 52,655 shares in the last quarter. TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new position in Zendesk in the first quarter valued at about $1,369,000. Finally, Loomis Sayles & Co. L P purchased a new position in Zendesk in the first quarter valued at about $6,192,000. Hedge funds and other institutional investors own 91.49% of the company’s stock.

In related news, insider Adrian Mcdermott sold 1,810 shares of the stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $58.13, for a total transaction of $105,215.30. Following the completion of the sale, the insider now owns 80,267 shares in the company, valued at approximately $4,665,920.71. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO John T. Keiser sold 15,013 shares of the stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $60.79, for a total value of $912,640.27. Following the sale, the chief operating officer now owns 25,022 shares of the company’s stock, valued at approximately $1,521,087.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,540 shares of company stock valued at $2,510,378. 4.70% of the stock is currently owned by corporate insiders.

A number of research analysts have commented on the company. Canaccord Genuity restated a “buy” rating and issued a $65.00 target price on shares of Zendesk in a research note on Wednesday, August 1st. Craig Hallum upped their price target on Zendesk from $63.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Piper Jaffray Companies reiterated an “overweight” rating and set a $65.00 price target on shares of Zendesk in a research note on Wednesday, May 2nd. They noted that the move was a valuation call. Morgan Stanley upped their price target on Zendesk from $48.00 to $57.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 2nd. Finally, KeyCorp upped their price target on Zendesk from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 2nd. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $58.81.

ZEN opened at $62.20 on Friday. The stock has a market cap of $6.66 billion, a PE ratio of -60.39 and a beta of 1.50. Zendesk Inc has a 52-week low of $26.33 and a 52-week high of $64.31. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 1.10.

Zendesk (NYSE:ZEN) last released its quarterly earnings results on Tuesday, July 31st. The software maker reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.29. The company had revenue of $141.88 million during the quarter, compared to the consensus estimate of $137.96 million. Zendesk had a negative return on equity of 28.60% and a negative net margin of 23.24%. equities research analysts forecast that Zendesk Inc will post -0.94 earnings per share for the current year.

About Zendesk

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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