California Public Employees Retirement System increased its position in shares of Zendesk Inc. (NYSE:ZEN) by 4.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 129,000 shares of the company’s stock after buying an additional 5,300 shares during the period. California Public Employees Retirement System owned 0.14% of Zendesk worth $3,962,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of ZEN. Swiss National Bank increased its stake in Zendesk by 49.4% in the second quarter. Swiss National Bank now owns 117,752 shares of the company’s stock valued at $3,106,000 after buying an additional 38,952 shares during the last quarter. Suntrust Banks Inc. purchased a new stake in Zendesk during the second quarter valued at $282,000. California State Teachers Retirement System increased its stake in Zendesk by 42.1% in the second quarter. California State Teachers Retirement System now owns 170,480 shares of the company’s stock valued at $4,497,000 after buying an additional 50,473 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Zendesk by 29.7% in the second quarter. Bank of New York Mellon Corp now owns 363,859 shares of the company’s stock valued at $9,599,000 after buying an additional 83,274 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its stake in Zendesk by 109.0% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 433,772 shares of the company’s stock valued at $11,443,000 after buying an additional 226,273 shares during the last quarter. 85.86% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Zendesk (NYSE:ZEN)

Zendesk Inc. (NYSE:ZEN) traded down 1.66% during midday trading on Wednesday, reaching $21.29. The company’s stock had a trading volume of 1,348,496 shares. The company has a 50 day moving average of $24.77 and a 200-day moving average of $27.54. The company’s market capitalization is $2.03 billion. Zendesk Inc. has a 1-year low of $14.39 and a 1-year high of $31.88.

Zendesk (NYSE:ZEN) last announced its quarterly earnings data on Tuesday, November 1st. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. Zendesk had a negative return on equity of 32.56% and a negative net margin of 36.27%. The firm had revenue of $80.70 million for the quarter. During the same quarter in the previous year, the company earned ($0.05) EPS. The company’s quarterly revenue was up 44.9% compared to the same quarter last year. Equities research analysts anticipate that Zendesk Inc. will post ($0.24) earnings per share for the current fiscal year.

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A number of brokerages have recently weighed in on ZEN. Canaccord Genuity reiterated a “buy” rating and issued a $35.00 target price on shares of Zendesk in a research report on Thursday, August 4th. JMP Securities reissued a “buy” rating on shares of Zendesk in a report on Monday, November 21st. Zacks Investment Research raised Zendesk from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Tuesday, November 8th. Rosenblatt Securities reissued a “buy” rating and issued a $33.00 price target on shares of Zendesk in a report on Wednesday, September 28th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $35.00 price target on shares of Zendesk in a report on Wednesday, August 3rd. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. Zendesk presently has an average rating of “Buy” and a consensus price target of $32.27.

In other news, Chairman Mikkel Svane sold 50,000 shares of the stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $24.10, for a total transaction of $1,205,000.00. Following the sale, the chairman now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Anne Raimondi sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $30.40, for a total value of $3,040,000.00. Following the sale, the senior vice president now owns 111,431 shares in the company, valued at $3,387,502.40. The disclosure for this sale can be found here. Insiders own 17.00% of the company’s stock.

Zendesk Company Profile

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.

5 Day Chart for NYSE:ZEN

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