Oppenheimer Asset Management Inc. cut its stake in shares of Zendesk Inc (NYSE:ZEN) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,434 shares of the software maker’s stock after selling 552 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Zendesk were worth $1,271,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of ZEN. Price T Rowe Associates Inc. MD boosted its position in Zendesk by 75.2% during the second quarter. Price T Rowe Associates Inc. MD now owns 9,133,023 shares of the software maker’s stock valued at $813,113,000 after purchasing an additional 3,920,837 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in Zendesk in the second quarter valued at approximately $67,967,000. Holocene Advisors LP raised its stake in Zendesk by 252.2% in the second quarter. Holocene Advisors LP now owns 441,306 shares of the software maker’s stock valued at $39,289,000 after buying an additional 315,993 shares during the period. Janus Henderson Group PLC raised its stake in Zendesk by 10.3% in the second quarter. Janus Henderson Group PLC now owns 3,180,927 shares of the software maker’s stock valued at $283,198,000 after buying an additional 296,002 shares during the period. Finally, First Trust Advisors LP raised its stake in Zendesk by 40.1% in the second quarter. First Trust Advisors LP now owns 864,905 shares of the software maker’s stock valued at $77,002,000 after buying an additional 247,599 shares during the period. 92.61% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Mikkel Svane sold 100,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $77.04, for a total transaction of $7,704,000.00. Following the transaction, the chief executive officer now owns 1,228,532 shares in the company, valued at $94,646,105.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Elena Gomez sold 4,500 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $64.50, for a total value of $290,250.00. Following the transaction, the chief financial officer now owns 22,034 shares in the company, valued at approximately $1,421,193. The disclosure for this sale can be found here. In the last quarter, insiders have sold 229,948 shares of company stock worth $17,669,341. 4.60% of the stock is owned by corporate insiders.

Shares of NYSE ZEN opened at $69.84 on Friday. The firm has a market cap of $7.93 billion, a P/E ratio of -73.52 and a beta of 1.18. The company has a current ratio of 1.37, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. Zendesk Inc has a 1-year low of $45.60 and a 1-year high of $94.89. The business’s 50 day moving average is $70.84 and its 200-day moving average is $81.56.

Zendesk (NYSE:ZEN) last announced its earnings results on Tuesday, October 29th. The software maker reported ($0.20) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.08. The company had revenue of $210.48 million for the quarter, compared to analyst estimates of $207.40 million. Zendesk had a negative return on equity of 26.50% and a negative net margin of 21.97%. Analysts forecast that Zendesk Inc will post -0.74 EPS for the current year.

Several analysts have issued reports on the company. Wells Fargo & Co dropped their price objective on Zendesk from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. TheStreet upgraded Zendesk from a “d” rating to a “c-” rating in a research note on Tuesday, October 29th. Bank of America dropped their price objective on Zendesk from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, October 16th. ValuEngine lowered Zendesk from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, KeyCorp restated a “buy” rating and issued a $108.00 price objective (up previously from $102.00) on shares of Zendesk in a research note on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Zendesk has a consensus rating of “Buy” and an average price target of $90.39.

Zendesk 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, applications, and mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that powers customer self-service and support agent productivity; Zendesk Sell, a sales force automation software to enhance productivity, processes, and pipeline visibility for sales teams; Zendesk Connect that manages customer communication across channels; and Zendesk Explore, which provides analytics for businesses to measure and enhance the customer experience.

See Also: Arbitrage

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Institutional Ownership by Quarter for Zendesk (NYSE:ZEN)

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