Bank of America Corp DE cut its holdings in shares of Zendesk Inc (NYSE:ZEN) by 38.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 635,184 shares of the software maker’s stock after selling 402,131 shares during the quarter. Bank of America Corp DE owned about 0.59% of Zendesk worth $37,075,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Flinton Capital Management LLC acquired a new stake in Zendesk in the 4th quarter valued at about $30,000. Intercontinental Wealth Advisors LLC acquired a new stake in shares of Zendesk during the 4th quarter worth about $34,000. Ipswich Investment Management Co. Inc. acquired a new stake in shares of Zendesk during the 4th quarter worth about $41,000. Penserra Capital Management LLC raised its position in shares of Zendesk by 304.5% during the 4th quarter. Penserra Capital Management LLC now owns 1,440 shares of the software maker’s stock worth $84,000 after acquiring an additional 1,084 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in shares of Zendesk by 383.3% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,450 shares of the software maker’s stock worth $85,000 after acquiring an additional 1,150 shares in the last quarter. Institutional investors and hedge funds own 96.55% of the company’s stock.
In other Zendesk news, CEO Mikkel Svane sold 50,000 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $78.61, for a total transaction of $3,930,500.00. Following the completion of the sale, the chief executive officer now owns 1,470,029 shares of the company’s stock, valued at $115,558,979.69. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Norman Gennaro sold 753 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $82.01, for a total value of $61,753.53. Following the sale, the senior vice president now directly owns 12,309 shares of the company’s stock, valued at approximately $1,009,461.09. The disclosure for this sale can be found here. Over the last three months, insiders sold 89,613 shares of company stock valued at $7,047,065. Insiders own 4.70% of the company’s stock.
Zendesk (NYSE:ZEN) last released its quarterly earnings results on Tuesday, February 5th. The software maker reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.28) by $0.38. Zendesk had a negative return on equity of 24.19% and a negative net margin of 21.89%. The company had revenue of $172.25 million during the quarter, compared to analysts’ expectations of $165.56 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. The business’s revenue for the quarter was up 41.3% compared to the same quarter last year. As a group, equities research analysts predict that Zendesk Inc will post -0.96 earnings per share for the current year.
Several equities research analysts have recently weighed in on ZEN shares. Zacks Investment Research raised Zendesk from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research report on Sunday, January 6th. Stephens started coverage on Zendesk in a research note on Wednesday, January 16th. They set an “overweight” rating and a $78.00 price target on the stock. Oppenheimer started coverage on Zendesk in a research note on Thursday, January 24th. They set a “market perform” rating and a $71.70 price target on the stock. Wedbush dropped their price target on Zendesk from $75.00 to $71.00 and set an “outperform” rating on the stock in a research note on Monday, February 4th. Finally, KeyCorp reiterated a “buy” rating on shares of Zendesk in a research note on Tuesday, February 5th. Four investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $78.99.
Zendesk, Inc, a software development company, provides SaaS products for organizations. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels. The company also offers Zendesk Chat, a live chat software to connect with customers on Websites, applications, and mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that powers customer self-service and support agent productivity; Zendesk Sell, a sales force automation software to enhance productivity, processes, and pipeline visibility for sales teams; Zendesk Connect that manages customer communication across channels; and Zendesk Explore, which provides analytics for businesses to measure and enhance the customer experience.
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