Amalgamated Bank Has $3.35 Million Stock Position in Zendesk, Inc. (NYSE:ZEN)

Amalgamated Bank grew its position in Zendesk, Inc. (NYSE:ZENGet Rating) by 9.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 27,869 shares of the software maker’s stock after acquiring an additional 2,463 shares during the quarter. Amalgamated Bank’s holdings in Zendesk were worth $3,352,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ZEN. Capital World Investors increased its position in Zendesk by 47.8% in the 4th quarter. Capital World Investors now owns 14,666,370 shares of the software maker’s stock worth $1,529,556,000 after purchasing an additional 4,743,356 shares during the last quarter. Contour Asset Management LLC increased its position in Zendesk by 1,238.0% in the 4th quarter. Contour Asset Management LLC now owns 1,441,826 shares of the software maker’s stock worth $150,368,000 after purchasing an additional 1,334,069 shares during the last quarter. Third Point LLC acquired a new position in Zendesk in the 4th quarter worth about $136,036,000. Spyglass Capital Management LLC acquired a new position in Zendesk in the 4th quarter worth about $118,690,000. Finally, Neuberger Berman Group LLC increased its position in Zendesk by 900.6% in the 1st quarter. Neuberger Berman Group LLC now owns 807,818 shares of the software maker’s stock worth $97,172,000 after purchasing an additional 727,082 shares during the last quarter. 90.15% of the stock is owned by institutional investors and hedge funds.

Zendesk Price Performance

Shares of ZEN stock opened at $76.36 on Friday. The stock has a 50 day moving average of $76.14 and a two-hundred day moving average of $91.46. 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 company has a market capitalization of $9.43 billion, a P/E ratio of -33.49 and a beta of 0.97.

Zendesk (NYSE:ZENGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The software maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $407.21 million during the quarter, compared to the consensus estimate of $404.68 million. During the same quarter in the prior year, the business posted ($0.35) EPS. Zendesk’s revenue was up 28.0% compared to the same quarter last year. As a group, equities analysts expect that Zendesk, Inc. will post -0.99 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ZEN. UBS Group lowered their price objective on Zendesk from $128.00 to $77.50 in a report on Friday, June 24th. William Blair lowered Zendesk from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 26th. Morgan Stanley lowered Zendesk from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $145.00 to $80.00 in a report on Monday, June 13th. Piper Sandler lowered their price objective on Zendesk from $140.00 to $77.50 and set a “neutral” rating on the stock in a report on Monday, July 18th. Finally, Craig Hallum lowered Zendesk from a “buy” rating to a “hold” rating and lowered their price objective for the company from $140.00 to $77.50 in a report on Wednesday, June 29th. Fifteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $95.69.

Insiders Place Their Bets

In related news, CTO Adrian Mcdermott sold 813 shares of the firm’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 transaction of $62,137.59. Following the completion of the transaction, the chief technology officer now owns 94,385 shares in the company, valued at approximately $7,213,845.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Norman Gennaro sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $76.55, for a total transaction of $535,850.00. Following the completion of the transaction, the insider now owns 26,519 shares in the company, valued at approximately $2,030,029.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Adrian Mcdermott sold 813 shares of the firm’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 transaction, 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. In the last quarter, insiders sold 173,743 shares of company stock worth $13,122,948. 2.92% of the stock is currently owned by company insiders.

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

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)

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