Insider Selling: Zendesk Inc. (ZEN) Chairman Sells $1,205,000.00 in Stock
Zendesk Inc. (NYSE:ZEN) Chairman Mikkel Svane sold 50,000 shares of the business’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $24.10, for a total transaction of $1,205,000.00. Following the completion of the sale, the chairman now owns 1,897,219 shares in the company, valued at approximately $45,722,977.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Zendesk Inc. (NYSE:ZEN) opened at 22.72 on Thursday. Zendesk Inc. has a 1-year low of $14.39 and a 1-year high of $31.88. The company’s market capitalization is $2.17 billion. The company’s 50-day moving average price is $26.71 and its 200-day moving average price is $27.55.
Zendesk (NYSE:ZEN) last released its quarterly earnings data on Tuesday, November 1st. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. The business had revenue of $80.70 million for the quarter. Zendesk had a negative return on equity of 32.56% and a negative net margin of 36.27%. The business’s quarterly revenue was up 44.9% compared to the same quarter last year. During the same period last year, the business earned ($0.05) earnings per share. On average, equities analysts expect that Zendesk Inc. will post ($0.24) earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in ZEN. Principal Financial Group Inc. raised its stake in Zendesk by 1.1% in the third quarter. Principal Financial Group Inc. now owns 10,982 shares of the company’s stock valued at $337,000 after buying an additional 122 shares during the period. BlackRock Inc. raised its stake in shares of Zendesk by 1.7% in the third quarter. BlackRock Inc. now owns 7,809 shares of the company’s stock worth $240,000 after buying an additional 134 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Zendesk by 2.4% in the second quarter. PNC Financial Services Group Inc. now owns 10,338 shares of the company’s stock worth $272,000 after buying an additional 238 shares during the last quarter. Swiss National Bank raised its stake in shares of Zendesk by 0.8% in the third quarter. Swiss National Bank now owns 118,752 shares of the company’s stock worth $3,647,000 after buying an additional 1,000 shares during the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of Zendesk by 0.8% in the third quarter. Teachers Advisors LLC now owns 128,968 shares of the company’s stock worth $3,961,000 after buying an additional 1,062 shares during the last quarter. 85.08% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on ZEN. Zacks Investment Research upgraded shares of Zendesk from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Tuesday, November 8th. Rosenblatt Securities reiterated a “buy” rating and set a $33.00 price target on shares of Zendesk in a research report on Wednesday, September 28th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $35.00 price target on shares of Zendesk in a research report on Saturday, August 13th. Canaccord Genuity reiterated a “buy” rating and set a $35.00 price target on shares of Zendesk in a research report on Thursday, August 4th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $33.00 price target (up previously from $27.00) on shares of Zendesk in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $32.27.
Zendesk, Inc is a software development company. The Company provides software as a service (SaaS) customer service platform. The Company’s platform consolidates the data from customer interactions and provides organizations with analytics and performance benchmarking. The Company also provides SaaS live chat software that can be utilized independently to facilitate communications between organizations and their customers.
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