Zendesk Inc (NYSE:ZEN) Chairman Mikkel Svane sold 50,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $62.09, for a total transaction of $3,104,500.00. Following the completion of the sale, the chairman now directly owns 1,575,034 shares of the company’s stock, valued at approximately $97,793,861.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of NYSE ZEN opened at $61.71 on Friday. Zendesk Inc has a twelve month low of $26.33 and a twelve month high of $64.31. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.74 and a quick ratio of 2.74. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of -59.91 and a beta of 1.50.
Zendesk (NYSE:ZEN) last issued its quarterly earnings results on Tuesday, July 31st. The software maker reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.29. Zendesk had a negative net margin of 23.24% and a negative return on equity of 28.60%. The company had revenue of $141.88 million during the quarter, compared to the consensus estimate of $137.96 million. equities research analysts forecast that Zendesk Inc will post -0.94 EPS for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of ZEN. Frontier Capital Management Co. LLC lifted its stake in Zendesk by 84.9% during the first quarter. Frontier Capital Management Co. LLC now owns 256,923 shares of the software maker’s stock valued at $12,299,000 after buying an additional 118,001 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Zendesk during the first quarter valued at about $345,000. Zeke Capital Advisors LLC purchased a new stake in Zendesk during the first quarter valued at about $263,000. Mackay Shields LLC purchased a new stake in Zendesk during the first quarter valued at about $1,297,000. Finally, American Century Companies Inc. purchased a new stake in Zendesk during the first quarter valued at about $18,539,000. 91.49% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Zendesk from $38.00 to $45.00 and gave the stock a “hold” rating in a report on Wednesday, May 2nd. Morgan Stanley upped their price objective on shares of Zendesk from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, June 27th. Cowen upped their price objective on shares of Zendesk from $53.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, May 2nd. Royal Bank of Canada upped their price objective on shares of Zendesk to $56.00 and gave the stock an “outperform” rating in a report on Wednesday, May 2nd. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Zendesk in a report on Wednesday, August 1st. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Zendesk presently has a consensus rating of “Buy” and a consensus price target of $58.81.
Zendesk Company Profile
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, in applications, and on mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that for customer self-service and support agent productivity; Zendesk Message, a customer messaging software; and Zendesk Explore that makes customer data accessible across an organization.
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