Zendesk Target of Unusually Large Options Trading (ZEN)

Zendesk Inc (NYSE:ZEN) was the recipient of some unusual options trading activity on Thursday. Traders acquired 1,222 call options on the stock. This is an increase of approximately 1,243% compared to the average daily volume of 91 call options.

Zendesk (NYSE:ZEN) opened at $37.51 on Friday. The company has a market cap of $3,810.00, a P/E ratio of -34.10 and a beta of 1.83. Zendesk has a 12 month low of $22.20 and a 12 month high of $37.71.

Zendesk (NYSE:ZEN) last issued its quarterly earnings data on Wednesday, November 1st. The software maker reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. The company had revenue of $112.79 million during the quarter, compared to the consensus estimate of $109.19 million. Zendesk had a negative net margin of 27.43% and a negative return on equity of 32.50%. Zendesk’s revenue for the quarter was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. equities analysts anticipate that Zendesk will post -1.03 earnings per share for the current fiscal year.

Several analysts have recently weighed in on ZEN shares. Stephens downgraded shares of Zendesk from an “equal weight” rating to an “underweight” rating and set a $25.00 price target for the company. in a research note on Monday, October 9th. Morgan Stanley lifted their price target on shares of Zendesk from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, October 23rd. Zacks Investment Research raised shares of Zendesk from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Thursday, October 5th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $40.00 price target (up previously from $32.00) on shares of Zendesk in a research note on Thursday, November 2nd. Finally, KeyCorp reaffirmed a “buy” rating and set a $35.00 price target on shares of Zendesk in a research note on Sunday, October 15th. 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 a consensus rating of “Buy” and a consensus price target of $34.13.

In other news, Chairman Mikkel Svane sold 50,000 shares of Zendesk stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $34.31, for a total transaction of $1,715,500.00. Following the completion of the sale, the chairman now owns 1,734,891 shares of the company’s stock, valued at $59,524,110.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John Geschke sold 787 shares of Zendesk stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $35.05, for a total transaction of $27,584.35. Following the sale, the senior vice president now directly owns 12,582 shares of the company’s stock, valued at approximately $440,999.10. The disclosure for this sale can be found here. Insiders have sold 153,800 shares of company stock valued at $5,309,267 in the last ninety days. Insiders own 5.30% of the company’s stock.

A number of large investors have recently modified their holdings of ZEN. Schwab Charles Investment Management Inc. raised its stake in Zendesk by 13.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 373,968 shares of the software maker’s stock worth $10,389,000 after buying an additional 42,929 shares in the last quarter. First Trust Advisors LP purchased a new position in Zendesk in the second quarter worth $1,059,000. Bank of New York Mellon Corp grew its holdings in Zendesk by 26.2% in the second quarter. Bank of New York Mellon Corp now owns 521,849 shares of the software maker’s stock worth $14,496,000 after purchasing an additional 108,181 shares during the last quarter. Legal & General Group Plc grew its holdings in Zendesk by 24.7% in the second quarter. Legal & General Group Plc now owns 35,877 shares of the software maker’s stock worth $995,000 after purchasing an additional 7,105 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in Zendesk by 622.0% in the second quarter. BNP Paribas Arbitrage SA now owns 12,201 shares of the software maker’s stock worth $339,000 after purchasing an additional 10,511 shares during the last quarter. 95.67% of the stock is owned by institutional investors.

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About Zendesk

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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