Zendesk Sees Unusually Large Options Volume (NYSE:ZEN)

Zendesk Inc (NYSE:ZEN) saw some unusual options trading activity on Thursday. Stock traders bought 1,222 call options on the company. This represents an increase of approximately 1,243% compared to the typical volume of 91 call options.

Several analysts have recently weighed in on the stock. Zacks Investment Research reissued a “hold” rating on shares of Zendesk in a research note on Saturday, January 27th. Royal Bank of Canada reissued a “buy” rating and issued a $35.00 price target on shares of Zendesk in a research note on Wednesday, October 18th. Piper Jaffray Companies reissued a “buy” rating and issued a $42.00 price target on shares of Zendesk in a research note on Tuesday, January 23rd. Canaccord Genuity increased their price objective on shares of Zendesk from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Finally, Morgan Stanley increased their price objective on shares of Zendesk from $35.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $35.71.

In other Zendesk news, SVP John Geschke sold 10,000 shares of the stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $37.27, for a total value of $372,700.00. Following the completion of the sale, the senior vice president now owns 16,795 shares in the company, valued at approximately $625,949.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mikkel Svane sold 50,000 shares of the 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 directly owns 1,734,891 shares of the company’s stock, valued at approximately $59,524,110.21. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,071 shares of company stock valued at $4,338,091. 5.30% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. FMR LLC boosted its position in Zendesk by 2.0% in the 2nd quarter. FMR LLC now owns 14,844,224 shares of the software maker’s stock valued at $412,372,000 after buying an additional 293,055 shares during the period. BlackRock Inc. boosted its position in Zendesk by 54.9% in the 2nd quarter. BlackRock Inc. now owns 8,835,508 shares of the software maker’s stock valued at $245,450,000 after buying an additional 3,133,287 shares during the period. Vanguard Group Inc. boosted its position in Zendesk by 10.9% in the 2nd quarter. Vanguard Group Inc. now owns 7,365,549 shares of the software maker’s stock valued at $204,615,000 after buying an additional 721,652 shares during the period. Janus Henderson Group PLC purchased a new position in Zendesk in the 2nd quarter valued at approximately $137,975,000. Finally, Wasatch Advisors Inc. boosted its position in Zendesk by 26.5% in the 2nd quarter. Wasatch Advisors Inc. now owns 3,919,479 shares of the software maker’s stock valued at $108,883,000 after buying an additional 820,465 shares during the period. 93.94% of the stock is owned by institutional investors.

Zendesk (NYSE:ZEN) traded down $0.92 during trading hours on Monday, hitting $37.02. 1,098,045 shares of the company were exchanged, compared to its average volume of 787,838. Zendesk has a 1 year low of $24.15 and a 1 year high of $39.30. The stock has a market cap of $3,851.18, a PE ratio of -33.35 and a beta of 1.87.

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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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