Pictet Asset Management Ltd. grew its stake in shares of Zendesk, Inc. (NYSE:ZEN) by 40.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 747,990 shares of the software maker’s stock after purchasing an additional 216,761 shares during the quarter. Pictet Asset Management Ltd. owned approximately 0.74% of Zendesk worth $21,774,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in shares of Zendesk by 28.7% in the first quarter. Goldman Sachs Group Inc. now owns 337,329 shares of the software maker’s stock valued at $9,458,000 after acquiring an additional 75,286 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Zendesk in the second quarter valued at about $216,000. JPMorgan Chase & Co. raised its holdings in shares of Zendesk by 77.9% in the second quarter. JPMorgan Chase & Co. now owns 2,110,503 shares of the software maker’s stock valued at $58,629,000 after acquiring an additional 923,875 shares in the last quarter. Legato Capital Management LLC bought a new stake in shares of Zendesk in the second quarter valued at about $492,000. Finally, Teachers Advisors LLC raised its holdings in shares of Zendesk by 24.5% in the second quarter. Teachers Advisors LLC now owns 175,967 shares of the software maker’s stock valued at $4,888,000 after acquiring an additional 34,599 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.
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In other Zendesk news, insider Adrian Mcdermott sold 1,766 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $26.42, for a total value of $46,657.72. Following the completion of the sale, the insider now directly owns 80,435 shares of the company’s stock, valued at approximately $2,125,092.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John Geschke sold 10,000 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $29.33, for a total value of $293,300.00. Following the completion of the sale, the senior vice president now directly owns 20,595 shares of the company’s stock, valued at $604,051.35. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,392 shares of company stock valued at $2,854,076. 5.30% of the stock is owned by corporate insiders.
A number of brokerages have commented on ZEN. Piper Jaffray Companies reiterated a “buy” rating and issued a $33.00 target price on shares of Zendesk in a report on Tuesday, September 12th. KeyCorp reiterated a “buy” rating and issued a $35.00 target price on shares of Zendesk in a research report on Friday, August 25th. BidaskClub lowered Zendesk from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 10th. Zacks Investment Research upgraded Zendesk from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Thursday, October 5th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $35.00 target price on shares of Zendesk in a research report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. Zendesk presently has an average rating of “Buy” and an average target price of $34.13.
Zendesk, Inc. (NYSE ZEN) opened at $34.99 on Tuesday. Zendesk, Inc. has a 52 week low of $19.77 and a 52 week high of $35.89.
Zendesk (NYSE:ZEN) last posted its quarterly earnings data on Wednesday, November 1st. The software maker reported ($0.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.04. Zendesk had a negative return on equity of 36.17% and a negative net margin of 24.55%. The firm had revenue of $112.79 million during the quarter, compared to the consensus estimate of $109.19 million. During the same period in the prior year, the company earned ($0.04) EPS. The firm’s revenue was up 39.7% compared to the same quarter last year. research analysts expect that Zendesk, Inc. will post -1.03 EPS for the current fiscal year.
Zendesk, Inc (Zendesk) is a software development company. The Zendesk family of products is built to work together to help organizations understand and manage customer relationships. All Zendesk products share a common interface and are being developed to support a shared services infrastructure and common customer data platform.
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