National Asset Management Inc. Reduces Stock Position in Zendesk, Inc. (NYSE:ZEN)

National Asset Management Inc. cut its holdings in shares of Zendesk, Inc. (NYSE:ZENGet Rating) by 34.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,896 shares of the software maker’s stock after selling 975 shares during the quarter. National Asset Management Inc.’s holdings in Zendesk were worth $229,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. New York State Common Retirement Fund increased its holdings in Zendesk by 1.3% during the 4th quarter. New York State Common Retirement Fund now owns 232,631 shares of the software maker’s stock worth $24,261,000 after purchasing an additional 3,031 shares during the last quarter. Donoghue Forlines LLC increased its holdings in shares of Zendesk by 34.4% in the 4th quarter. Donoghue Forlines LLC now owns 5,907 shares of the software maker’s stock valued at $616,000 after acquiring an additional 1,512 shares during the last quarter. First Republic Investment Management Inc. increased its holdings in shares of Zendesk by 189.3% in the 4th quarter. First Republic Investment Management Inc. now owns 27,151 shares of the software maker’s stock valued at $2,832,000 after acquiring an additional 17,765 shares during the last quarter. IHT Wealth Management LLC bought a new stake in shares of Zendesk in the 4th quarter valued at approximately $270,000. Finally, Laurel Wealth Advisors Inc. bought a new stake in shares of Zendesk in the 4th quarter valued at approximately $257,000. 98.72% of the stock is currently owned by hedge funds and other institutional investors.

Zendesk Trading Up 0.4 %

Shares of ZEN stock opened at $75.42 on Monday. The company has a debt-to-equity ratio of 3.47, a quick ratio of 1.62 and a current ratio of 1.62. Zendesk, Inc. has a 1 year low of $54.16 and a 1 year high of $143.31. The stock has a fifty day moving average of $75.54 and a two-hundred day moving average of $99.51. The firm has a market capitalization of $9.30 billion, a PE ratio of -37.71 and a beta of 1.04.

Zendesk (NYSE:ZENGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The software maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. Zendesk had a negative return on equity of 36.18% and a negative net margin of 16.91%. The company had revenue of $407.21 million during the quarter, compared to analyst estimates of $404.68 million. During the same quarter in the previous year, the firm posted ($0.35) EPS. The firm’s quarterly revenue was up 28.0% on a year-over-year basis. As a group, research analysts expect that Zendesk, Inc. will post -1.06 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ZEN shares. Barclays reiterated an “equal weight” rating and issued a $78.00 price target (down from $170.00) on shares of Zendesk in a report on Tuesday, June 28th. Jefferies Financial Group lowered their price target on Zendesk from $120.00 to $110.00 in a report on Monday, May 23rd. Cowen lowered their price target on Zendesk to $77.50 in a report on Monday, July 4th. Stifel Nicolaus lowered Zendesk from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Canaccord Genuity Group lowered Zendesk from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Fifteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $95.69.

Insider Activity

In other news, insider Norman Gennaro sold 7,000 shares of the company’s stock in a transaction on Friday, June 24th. The stock was sold at an average price of $75.50, for a total value of $528,500.00. Following the completion of the sale, the insider now owns 29,813 shares in the company, valued at $2,250,881.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 21,242 shares of company stock worth $1,779,236 over the last 90 days. 2.92% of the stock is currently owned by company insiders.

Zendesk Profile

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Zendesk, Inc, a software development company, provides software as a service solutions for organizations in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels.

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Institutional Ownership by Quarter for Zendesk (NYSE:ZEN)

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