Cadian Capital Management LP raised its stake in shares of Zendesk Inc (NYSE:ZEN) by 275.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 963,339 shares of the software maker’s stock after buying an additional 707,039 shares during the quarter. Zendesk comprises about 2.5% of Cadian Capital Management LP’s investment portfolio, making the stock its 16th biggest holding. Cadian Capital Management LP owned about 0.91% of Zendesk worth $52,492,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently made changes to their positions in ZEN. Dimensional Fund Advisors LP bought a new stake in shares of Zendesk in the first quarter worth $5,235,000. Ardevora Asset Management LLP bought a new stake in shares of Zendesk in the second quarter worth $32,861,000. Schwab Charles Investment Management Inc. grew its holdings in shares of Zendesk by 10.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 540,022 shares of the software maker’s stock worth $25,851,000 after acquiring an additional 52,655 shares during the period. Loomis Sayles & Co. L P bought a new stake in shares of Zendesk in the first quarter worth $6,192,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. bought a new stake in shares of Zendesk in the first quarter worth $1,369,000. Institutional investors and hedge funds own 92.24% of the company’s stock.
In other Zendesk news, Chairman Mikkel Svane sold 50,000 shares of the business’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 owns 1,575,034 shares of the company’s stock, valued at $97,793,861.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John Geschke sold 5,000 shares of the business’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $59.02, for a total value of $295,100.00. The disclosure for this sale can be found here. Insiders have sold 96,270 shares of company stock valued at $5,945,098 in the last three months. 4.70% of the stock is currently owned by corporate insiders.
NYSE:ZEN opened at $67.98 on Thursday. Zendesk Inc has a 52-week low of $27.09 and a 52-week high of $69.98. 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 cap of $7.30 billion, a price-to-earnings ratio of -66.00 and a beta of 1.60.
Zendesk (NYSE:ZEN) last released its quarterly earnings results on Tuesday, July 31st. The software maker reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.29. Zendesk had a negative return on equity of 28.60% and a negative net margin of 23.24%. The business had revenue of $141.88 million during the quarter, compared to analyst estimates of $137.96 million. equities research analysts predict that Zendesk Inc will post -0.94 EPS for the current year.
ZEN has been the subject of several research analyst reports. Evercore ISI reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Zendesk in a report on Sunday, August 5th. Wells Fargo & Co cut their price objective on Zendesk from $80.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, August 1st. KeyCorp lifted their price objective on Zendesk from $58.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, August 1st. Morgan Stanley lifted their price objective on Zendesk from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Finally, Craig Hallum lifted their price objective on Zendesk from $63.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $58.81.
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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