Oppenheimer & Co. Inc. Sells 930 Shares of Zendesk Inc (NYSE:ZEN)

Oppenheimer & Co. Inc. cut its stake in shares of Zendesk Inc (NYSE:ZEN) by 26.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,652 shares of the software maker’s stock after selling 930 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Zendesk were worth $237,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Janus Henderson Group PLC increased its holdings in Zendesk by 10.3% in the 2nd quarter. Janus Henderson Group PLC now owns 3,180,927 shares of the software maker’s stock worth $283,198,000 after buying an additional 296,002 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Zendesk by 18.4% in the 2nd quarter. Wells Fargo & Company MN now owns 1,461,387 shares of the software maker’s stock worth $130,106,000 after buying an additional 227,524 shares in the last quarter. OppenheimerFunds Inc. increased its holdings in Zendesk by 5.0% in the 1st quarter. OppenheimerFunds Inc. now owns 998,880 shares of the software maker’s stock worth $84,905,000 after buying an additional 47,137 shares in the last quarter. Geode Capital Management LLC increased its holdings in Zendesk by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 986,067 shares of the software maker’s stock worth $57,556,000 after buying an additional 61,660 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Zendesk by 40.1% during the 2nd quarter. First Trust Advisors LP now owns 864,905 shares of the software maker’s stock valued at $77,002,000 after purchasing an additional 247,599 shares during the period. Hedge funds and other institutional investors own 93.66% of the company’s stock.

ZEN has been the subject of a number of recent research reports. Wedbush restated an “outperform” rating and set a $103.00 price target (up from $95.00) on shares of Zendesk in a research note on Thursday, May 23rd. Royal Bank of Canada cut their price target on Zendesk from $109.00 to $106.00 and set an “outperform” rating for the company in a research note on Tuesday, September 3rd. Compass Point initiated coverage on Zendesk in a research note on Tuesday, August 13th. They set a “buy” rating and a $100.00 price target for the company. UBS Group set a $98.00 price target on Zendesk and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus set a $92.00 price target on Zendesk and gave the company a “hold” rating in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Zendesk currently has an average rating of “Buy” and an average target price of $98.09.

Zendesk stock traded up $0.04 during mid-day trading on Friday, hitting $74.27. The company’s stock had a trading volume of 42,513 shares, compared to its average volume of 1,422,913. The company has a 50 day moving average of $80.66 and a 200-day moving average of $84.47. The stock has a market cap of $8.42 billion, a PE ratio of -78.37 and a beta of 1.31. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.67 and a current ratio of 0.67. Zendesk Inc has a one year low of $45.60 and a one year high of $94.89.

Zendesk (NYSE:ZEN) last issued its earnings results on Tuesday, July 30th. The software maker reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.33. The business had revenue of $194.58 million during the quarter, compared to analysts’ expectations of $192.47 million. Zendesk had a negative return on equity of 27.44% and a negative net margin of 23.70%. The business’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 EPS. On average, equities research analysts forecast that Zendesk Inc will post -1.13 EPS for the current fiscal year.

In other Zendesk news, Director L Michelle Wilson sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $77.50, for a total transaction of $1,550,000.00. Following the transaction, the director now owns 135,790 shares in the company, valued at $10,523,725. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mikkel Svane sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $74.96, for a total value of $3,748,000.00. Following the transaction, the chief executive officer now owns 1,377,934 shares in the company, valued at approximately $103,289,932.64. The disclosure for this sale can be found here. Insiders sold 257,380 shares of company stock worth $20,202,336 over the last three months. Corporate insiders own 4.60% of the company’s stock.

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, 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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Institutional Ownership by Quarter for Zendesk (NYSE:ZEN)

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