DnB Asset Management AS Purchases 827 Shares of Zendesk, Inc. (NYSE:ZEN)

DnB Asset Management AS grew its stake in Zendesk, Inc. (NYSE:ZENGet Rating) by 4.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,158 shares of the software maker’s stock after acquiring an additional 827 shares during the quarter. DnB Asset Management AS’s holdings in Zendesk were worth $1,419,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Achmea Investment Management B.V. bought a new stake in shares of Zendesk in the 1st quarter valued at about $26,000. Acadian Asset Management LLC bought a new stake in shares of Zendesk in the 4th quarter valued at about $26,000. Prospera Financial Services Inc bought a new stake in shares of Zendesk in the 1st quarter valued at about $33,000. Capital Advisory Group Advisory Services LLC bought a new stake in shares of Zendesk in the 1st quarter valued at about $34,000. Finally, Allworth Financial LP increased its stake in shares of Zendesk by 59.3% in the 1st quarter. Allworth Financial LP now owns 325 shares of the software maker’s stock valued at $39,000 after acquiring an additional 121 shares during the last quarter. 90.15% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Mikkel Svane sold 101,930 shares of the 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 sale, the chief executive officer now owns 751,983 shares of the company’s stock, valued at approximately $56,609,280.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Zendesk news, CEO Mikkel Svane sold 101,930 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $56,609,280.24. The sale 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 the firm’s stock in a transaction on Friday, June 24th. The shares were sold at an average price of $75.50, for a total value of $528,500.00. Following the sale, 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. In the last 90 days, insiders sold 180,743 shares of company stock valued at $13,651,448. 2.92% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on ZEN. William Blair cut Zendesk from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 26th. Cowen lowered their target price on Zendesk to $77.50 in a research note on Monday, July 4th. Barclays reissued an “equal weight” rating and set a $78.00 target price (down from $170.00) on shares of Zendesk in a research note on Tuesday, June 28th. UBS Group lowered their target price on Zendesk from $128.00 to $77.50 in a research note on Friday, June 24th. Finally, Canaccord Genuity Group downgraded Zendesk from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Fifteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Zendesk has an average rating of “Hold” and an average price target of $95.69.

Zendesk Stock Performance

NYSE ZEN opened at $76.52 on Thursday. The company has a market cap of $9.45 billion, a PE ratio of -33.56 and a beta of 0.97. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 3.48. Zendesk, Inc. has a 12 month low of $54.16 and a 12 month high of $136.30. The stock has a 50 day moving average of $76.06 and a 200-day moving average of $91.82.

Zendesk (NYSE:ZENGet Rating) last released 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). The company had revenue of $407.21 million during 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 42.82%. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.35) EPS. On average, equities research analysts anticipate that Zendesk, Inc. will post -0.99 EPS for the current fiscal year.

About Zendesk

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding ZEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zendesk, Inc. (NYSE:ZENGet Rating).

Institutional Ownership by Quarter for Zendesk (NYSE:ZEN)

Receive News & Ratings for Zendesk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zendesk and related companies with MarketBeat.com's FREE daily email newsletter.