Walleye Capital LLC Purchases 1,855 Shares of Zendesk, Inc. (NYSE:ZEN)

Walleye Capital LLC boosted its position in Zendesk, Inc. (NYSE:ZENGet Rating) by 21.9% in the 1st quarter, Holdings Channel reports. The firm owned 10,329 shares of the software maker’s stock after buying an additional 1,855 shares during the quarter. Walleye Capital LLC’s holdings in Zendesk were worth $1,242,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in Zendesk by 59.3% in the first quarter. Allworth Financial LP now owns 325 shares of the software maker’s stock worth $39,000 after purchasing an additional 121 shares during the last quarter. Buckingham Strategic Wealth LLC increased its position in shares of Zendesk by 1.1% during the first quarter. Buckingham Strategic Wealth LLC now owns 12,648 shares of the software maker’s stock worth $1,521,000 after acquiring an additional 133 shares during the period. Pendal Group Ltd increased its position in shares of Zendesk by 1.1% during the first quarter. Pendal Group Ltd now owns 12,900 shares of the software maker’s stock worth $1,552,000 after acquiring an additional 137 shares during the period. M&T Bank Corp increased its position in shares of Zendesk by 4.9% during the first quarter. M&T Bank Corp now owns 3,503 shares of the software maker’s stock worth $420,000 after acquiring an additional 165 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in shares of Zendesk by 1.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 10,334 shares of the software maker’s stock worth $1,275,000 after acquiring an additional 181 shares during the period. Institutional investors own 90.15% of the company’s stock.

Zendesk Price Performance

Shares of ZEN opened at $76.60 on Monday. The company has a market cap of $9.46 billion, a price-to-earnings ratio of -33.60 and a beta of 0.97. Zendesk, Inc. has a twelve month low of $54.16 and a twelve month high of $136.30. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 3.48. The company has a 50 day moving average of $75.97 and a two-hundred day moving average of $92.23.

Zendesk (NYSE:ZENGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The software maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.12). Zendesk had a negative return on equity of 42.82% and a negative net margin of 18.33%. The company had revenue of $407.21 million for the quarter, compared to analyst estimates of $404.68 million. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. The company’s quarterly revenue was up 28.0% on a year-over-year basis. As a group, analysts predict that Zendesk, Inc. will post -0.99 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ZEN. Jefferies Financial Group reduced their target price on shares of Zendesk from $120.00 to $110.00 in a research report on Monday, May 23rd. Craig Hallum lowered shares of 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 research report on Wednesday, June 29th. Piper Sandler cut their price objective on shares of Zendesk from $140.00 to $77.50 and set a “neutral” rating on the stock in a report on Monday, July 18th. Canaccord Genuity Group lowered shares of Zendesk from a “buy” rating to a “hold” rating in a report on Friday, June 24th. Finally, William Blair lowered shares of Zendesk from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 26th. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $95.69.

Insider Transactions at Zendesk

In related news, CEO Mikkel Svane sold 101,930 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $75.28, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Mikkel Svane sold 101,930 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $75.28, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Norman Gennaro sold 7,000 shares of Zendesk stock in a transaction on Friday, June 24th. The shares were sold at an average price of $75.50, for a total transaction of $528,500.00. Following the completion of the transaction, the insider now directly owns 29,813 shares of the company’s stock, valued at approximately $2,250,881.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 173,743 shares of company stock worth $13,115,598. Company insiders own 2.92% of the company’s stock.

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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