Mikkel Svane Sells 101,930 Shares of Zendesk, Inc. (NYSE:ZEN) Stock

Zendesk, Inc. (NYSE:ZEN – Get Rating) CEO Mikkel Svane sold 101,930 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $75.28, for a total value of $7,673,290.40. Following the completion of the transaction, the chief executive officer now directly owns 751,983 shares in the company, valued at $56,609,280.24. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Zendesk Stock Performance

Shares of Zendesk stock opened at $75.89 on Friday. Zendesk, Inc. has a 52 week low of $54.16 and a 52 week high of $136.30. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of -33.29 and a beta of 0.99. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.62 and a current ratio of 1.62. The firm has a fifty day moving average of $73.71 and a two-hundred day moving average of $98.69.

Zendesk (NYSE:ZEN – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03. Zendesk had a negative net margin of 18.33% and a negative return on equity of 42.82%. 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 business earned ($0.35) EPS. The firm’s revenue was up 28.0% on a year-over-year basis. As a group, equities research analysts predict that Zendesk, Inc. will post -1 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ZEN shares. Craig Hallum downgraded Zendesk from a “buy” rating to a “hold” rating and reduced their target price for the stock from $140.00 to $77.50 in a report on Wednesday, June 29th. Jefferies Financial Group reduced their target price on Zendesk from $120.00 to $110.00 in a report on Monday, May 23rd. William Blair cut shares of Zendesk from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 26th. Cowen dropped their price objective on shares of Zendesk to $77.50 in a research report on Monday, July 4th. Finally, Evercore ISI dropped their price objective on shares of Zendesk from $128.00 to $66.00 and set an “in-line” rating for the company in a research report on Friday, June 17th. Fifteen analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $95.69.

Hedge Funds Weigh In On Zendesk

Institutional investors and hedge funds have recently made changes to their positions in the company. Achmea Investment Management B.V. acquired a new position in shares of Zendesk in the 1st quarter valued at $26,000. Acadian Asset Management LLC bought a new position in Zendesk during the 4th quarter worth about $26,000. Quadrant Capital Group LLC increased its holdings in Zendesk by 102.3% during the 4th quarter. Quadrant Capital Group LLC now owns 259 shares of the software maker’s stock worth $27,000 after purchasing an additional 131 shares in the last quarter. Prospera Financial Services Inc bought a new position in Zendesk during the 1st quarter worth about $33,000. Finally, Capital Advisory Group Advisory Services LLC bought a new position in Zendesk during the 1st quarter worth about $34,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Zendesk Company 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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