abrdn plc lessened its holdings in shares of Zendesk, Inc. (NYSE:ZEN – Get Rating) by 1.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 9,926 shares of the software maker’s stock after selling 187 shares during the period. abrdn plc’s holdings in Zendesk were worth $1,181,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the business. Capital World Investors lifted its holdings in shares of Zendesk by 47.8% during the fourth quarter. Capital World Investors now owns 14,666,370 shares of the software maker’s stock worth $1,529,556,000 after buying an additional 4,743,356 shares during the last quarter. Pictet Asset Management SA increased its holdings in shares of Zendesk by 9.4% during the 4th quarter. Pictet Asset Management SA now owns 3,695,590 shares of the software maker’s stock worth $385,413,000 after purchasing an additional 316,453 shares during the period. Champlain Investment Partners LLC raised its position in shares of Zendesk by 4.3% during the fourth quarter. Champlain Investment Partners LLC now owns 2,108,715 shares of the software maker’s stock valued at $219,918,000 after buying an additional 87,455 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Zendesk by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 1,481,234 shares of the software maker’s stock valued at $154,247,000 after buying an additional 78,682 shares during the period. Finally, Contour Asset Management LLC grew its position in Zendesk by 1,238.0% during the fourth quarter. Contour Asset Management LLC now owns 1,441,826 shares of the software maker’s stock worth $150,368,000 after buying an additional 1,334,069 shares in the last quarter. Institutional investors own 98.72% of the company’s stock.
Insiders Place Their Bets
In other news, insider Norman Gennaro sold 7,000 shares of the business’s stock in a transaction on Friday, June 24th. The stock was sold at an average price of $75.50, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 21,242 shares of company stock valued at $1,779,236. 2.92% of the stock is currently owned by corporate insiders.
Zendesk Stock Down 0.1 %
Zendesk (NYSE:ZEN – Get Rating) last announced its 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. The company had revenue of $407.21 million for the quarter, compared to analyst estimates of $404.68 million. Zendesk had a negative net margin of 18.33% and a negative return on equity of 40.29%. Zendesk’s quarterly revenue was up 28.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.35) earnings per share. As a group, research analysts forecast that Zendesk, Inc. will post -1.06 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts have commented on ZEN shares. Jefferies Financial Group cut their price target on Zendesk from $120.00 to $110.00 in a report on Monday, May 23rd. Canaccord Genuity Group lowered shares of Zendesk from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Craig Hallum downgraded Zendesk from a “buy” rating to a “hold” rating and decreased their price objective for the company from $140.00 to $77.50 in a report on Wednesday, June 29th. Evercore ISI lowered their price objective on Zendesk from $128.00 to $66.00 and set an “in-line” rating on the stock in a research note on Friday, June 17th. Finally, Morgan Stanley downgraded Zendesk from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $145.00 to $80.00 in a research report on Monday, June 13th. Fifteen equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Zendesk currently has an average rating of “Hold” and an average target price of $95.69.
Zendesk Company Profile
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.
- Get a free copy of the StockNews.com research report on Zendesk (ZEN)
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