Nationwide Fund Advisors raised its position in Zendesk Inc. (NYSE:ZEN) by 109.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,089 shares of the company’s stock after buying an additional 38,233 shares during the period. Nationwide Fund Advisors owned approximately 0.08% of Zendesk worth $1,928,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of ZEN. PNC Financial Services Group Inc. increased its position 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 in the last quarter. Suntrust Banks Inc. acquired a new position in shares of Zendesk during the second quarter worth about $282,000. Fox Run Management L.L.C. acquired a new position in shares of Zendesk during the second quarter worth about $346,000. Lebenthal Lisanti Capital Growth LLC acquired a new position in shares of Zendesk during the second quarter worth about $509,000. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Zendesk by 10.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 30,950 shares of the company’s stock worth $816,000 after buying an additional 2,882 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.
Zendesk Inc. (NYSE:ZEN) traded up 0.94% during midday trading on Friday, reaching $27.84. The company’s stock had a trading volume of 134,195 shares. The stock’s market capitalization is $2.61 billion. The firm’s 50-day moving average price is $30.23 and its 200-day moving average price is $26.91. Zendesk Inc. has a 52 week low of $14.39 and a 52 week high of $31.88.
Zendesk (NYSE:ZEN) last released its earnings results on Tuesday, August 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.03. Zendesk had a negative return on equity of 30.61% and a negative net margin of 37.10%. The company had revenue of $74.20 million for the quarter, compared to analysts’ expectations of $72.34 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. The firm’s quarterly revenue was up 53.9% on a year-over-year basis. On average, analysts anticipate that Zendesk Inc. will post ($0.04) earnings per share for the current year.
A number of brokerages have issued reports on ZEN. Morgan Stanley reiterated a “buy” rating on shares of Zendesk in a research report on Sunday, July 17th. Zacks Investment Research upgraded Zendesk from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Thursday, July 7th. RBC Capital Markets restated an “outperform” rating and issued a $33.00 target price (up previously from $27.00) on shares of Zendesk in a research report on Wednesday, July 27th. Summit Redstone started coverage on Zendesk in a research report on Monday, July 18th. They issued a “buy” rating and a $34.00 target price on the stock. Finally, Stifel Nicolaus started coverage on Zendesk in a research report on Monday, July 18th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $32.73.
In other news, Chairman Mikkel Svane sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $30.59, for a total transaction of $4,588,500.00. Following the sale, the chairman now owns 3,421,984 shares of the company’s stock, valued at approximately $104,678,490.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Adrian Mcdermott sold 5,552 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $28.08, for a total value of $155,900.16. Following the sale, the senior vice president now directly owns 90,395 shares in the company, valued at approximately $2,538,291.60. 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.