Moody National Bank Trust Division Lowers Holdings in Zendesk, Inc. (NYSE:ZEN)

Moody National Bank Trust Division trimmed its position in shares of Zendesk, Inc. (NYSE:ZENGet Rating) by 55.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,135 shares of the software maker’s stock after selling 5,115 shares during the period. Moody National Bank Trust Division’s holdings in Zendesk were worth $307,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Toronto Dominion Bank lifted its stake in Zendesk by 11.0% during the first quarter. Toronto Dominion Bank now owns 23,607 shares of the software maker’s stock worth $2,840,000 after purchasing an additional 2,337 shares in the last quarter. IHT Wealth Management LLC acquired a new position in Zendesk during the fourth quarter worth $270,000. Laurel Wealth Advisors Inc. acquired a new position in Zendesk during the fourth quarter worth $257,000. Bank of Nova Scotia lifted its stake in Zendesk by 505.8% during the first quarter. Bank of Nova Scotia now owns 66,707 shares of the software maker’s stock worth $8,024,000 after purchasing an additional 55,696 shares in the last quarter. Finally, Third Point LLC acquired a new position in Zendesk during the fourth quarter worth $136,036,000. 90.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Mikkel Svane sold 101,930 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 751,983 shares in the company, valued at approximately $56,609,280.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Mikkel Svane sold 101,930 shares of the company’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 transaction of $7,673,290.40. Following the completion of the sale, the chief executive officer now owns 751,983 shares in the company, valued at $56,609,280.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Adrian Mcdermott sold 813 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $76.43, for a total value of $62,137.59. Following the sale, the chief technology officer now owns 94,385 shares of the company’s stock, valued at approximately $7,213,845.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,743 shares of company stock valued at $13,651,448. 2.92% of the stock is currently owned by insiders.

Zendesk Stock Down 0.1 %

Zendesk stock opened at $76.55 on Tuesday. The stock’s fifty day moving average is $76.02 and its two-hundred day moving average is $91.93. The stock has a market cap of $9.45 billion, a PE ratio of -33.57 and a beta of 0.97. Zendesk, Inc. has a 1-year low of $54.16 and a 1-year high of $136.30. The company has a debt-to-equity ratio of 3.48, a current ratio of 1.62 and a quick ratio of 1.62.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on ZEN shares. JMP Securities cut Zendesk from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 26th. Cowen reduced their price objective on Zendesk to $77.50 in a research note on Monday, July 4th. Piper Sandler reduced their price objective on Zendesk from $140.00 to $77.50 and set a “neutral” rating on the stock in a research note on Monday, July 18th. Morgan Stanley cut Zendesk from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $145.00 to $80.00 in a research note on Monday, June 13th. Finally, William Blair cut Zendesk from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 26th. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $95.69.

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.

See Also

Institutional Ownership by Quarter for Zendesk (NYSE:ZEN)

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