Oppenheimer & Co. Inc. lowered its stake in Zendesk Inc (NYSE:ZEN) by 26.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,652 shares of the software maker’s stock after selling 930 shares during the period. Oppenheimer & Co. Inc.’s holdings in Zendesk were worth $237,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in shares of Zendesk by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 174,358 shares of the software maker’s stock worth $10,176,000 after purchasing an additional 3,721 shares during the period. Geode Capital Management LLC raised its position in shares of Zendesk by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 986,067 shares of the software maker’s stock worth $57,556,000 after buying an additional 61,660 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Zendesk by 21.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,503 shares of the software maker’s stock worth $468,000 after buying an additional 988 shares during the period. Rhumbline Advisers increased its holdings in Zendesk by 2.1% in the 1st quarter. Rhumbline Advisers now owns 105,165 shares of the software maker’s stock valued at $8,939,000 after purchasing an additional 2,130 shares in the last quarter. Finally, Stephens Inc. AR increased its holdings in Zendesk by 57.5% in the 1st quarter. Stephens Inc. AR now owns 22,529 shares of the software maker’s stock valued at $1,915,000 after purchasing an additional 8,224 shares in the last quarter. 93.66% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on the company. Goldman Sachs Group assumed coverage on Zendesk in a report on Friday, June 7th. They issued a “buy” rating and a $105.00 price target for the company. Zacks Investment Research upgraded Zendesk from a “sell” rating to a “hold” rating in a report on Sunday, September 8th. Stifel Nicolaus set a $92.00 price target on Zendesk and gave the company a “hold” rating in a report on Wednesday, July 31st. Royal Bank of Canada lowered their price target on Zendesk from $109.00 to $106.00 and set an “outperform” rating for the company in a report on Tuesday, September 3rd. Finally, Wedbush restated an “outperform” rating and set a $103.00 target price (up from $95.00) on shares of Zendesk in a research note on Thursday, May 23rd. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $98.09.

Shares of ZEN stock traded up $0.04 during trading hours on Friday, hitting $74.27. 42,513 shares of the company were exchanged, compared to its average volume of 1,422,913. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.67 and a current ratio of 0.67. Zendesk Inc has a one year low of $45.60 and a one year high of $94.89. The business’s 50-day simple moving average is $80.66 and its two-hundred day simple moving average is $84.47. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of -78.37 and a beta of 1.31.

Zendesk (NYSE:ZEN) last issued its earnings results on Tuesday, July 30th. The software maker reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.33. Zendesk had a negative net margin of 23.70% and a negative return on equity of 27.44%. The firm had revenue of $194.58 million for the quarter, compared to analysts’ expectations of $192.47 million. During the same quarter last year, the company posted $0.03 earnings per share. Zendesk’s revenue was up 37.1% on a year-over-year basis. As a group, analysts anticipate that Zendesk Inc will post -1.13 EPS for the current fiscal year.

In other Zendesk news, insider Adrian Mcdermott sold 3,484 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $78.96, for a total value of $275,096.64. Following the transaction, the insider now owns 84,948 shares of the company’s stock, valued at $6,707,494.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mikkel Svane sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $74.96, for a total transaction of $3,748,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,377,934 shares in the company, valued at approximately $103,289,932.64. The disclosure for this sale can be found here. Insiders sold 257,380 shares of company stock worth $20,202,336 in the last three months. 4.60% of the stock is currently owned by corporate insiders.

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, 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.

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Institutional Ownership by Quarter for Zendesk (NYSE:ZEN)

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