Today, Insider Selling: Zendesk Inc. (ZEN) SVP Sold $298,700.00 in Stock

Today, Insider Selling: Zendesk Inc. (ZEN) SVP Sold $298,700.00 in Stock

Zendesk Inc. (NYSE:ZEN) SVP John Geschke sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $29.87, for a total transaction of $298,700.00. Following the transaction, the senior vice president now directly owns 11,380 shares in the company, valued at $339,920.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

John Geschke also recently made the following trade(s): On Tuesday, September 13th, John Geschke sold 10,000 shares of Zendesk stock. The shares were sold at an average price of $29.50, for a total transaction of $295,000.00. On Friday, August 19th, John Geschke sold 5,000 shares of Zendesk stock. The shares were sold at an average price of $30.29, for a total transaction of $151,450.00.

Zendesk Inc. (NYSE:ZEN) opened at 27.59 on Monday. The stock has a 50 day moving average of $30.13 and a 200 day moving average of $26.96. Zendesk Inc. has a 1-year low of $14.39 and a 1-year high of $31.88. The stock’s market cap is $2.59 billion.

Zendesk (NYSE:ZEN) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.03. Zendesk had a negative net margin of 37.10% and a negative return on equity of 30.61%. The company had revenue of $74.20 million for the quarter, compared to the consensus estimate of $72.34 million. During the same period in the prior year, the firm posted ($0.08) EPS. Zendesk’s revenue for the quarter was up 53.9% on a year-over-year basis. Equities analysts anticipate that Zendesk Inc. will post ($0.04) EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. increased its stake in shares of Zendesk by 48.9% in the first quarter. Franklin Resources Inc. now owns 3,881,877 shares of the company’s stock valued at $81,248,000 after buying an additional 1,275,008 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Zendesk by 2.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,335,980 shares of the company’s stock valued at $27,962,000 after buying an additional 38,268 shares during the period. Cupps Capital Management LLC increased its stake in shares of Zendesk by 58.3% in the first quarter. Cupps Capital Management LLC now owns 157,355 shares of the company’s stock valued at $3,293,000 after buying an additional 57,936 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Zendesk by 26.8% in the first quarter. Goldman Sachs Group Inc. now owns 67,137 shares of the company’s stock valued at $1,406,000 after buying an additional 14,178 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Zendesk by 348.6% in the first quarter. Wellington Management Group LLP now owns 4,370,342 shares of the company’s stock valued at $91,471,000 after buying an additional 3,396,128 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Several brokerages have commented on ZEN. Zacks Investment Research lowered shares of Zendesk from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Morgan Stanley lifted their price objective on shares of Zendesk from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, July 14th. Summit Research reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Zendesk in a research report on Monday, July 18th. Summit Redstone began coverage on shares of Zendesk in a research report on Monday, July 18th. They issued a “buy” rating and a $34.00 price objective on the stock. Finally, Stifel Nicolaus began coverage on shares of 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’s stock. The stock has an average rating of “Buy” and an average price target of $32.73.

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