Zendesk Target of Unusually Large Options Trading (NYSE:ZEN)

Zendesk Inc (NYSE:ZEN) was the target of some unusual options trading on Thursday. Stock investors acquired 786 put options on the company. This represents an increase of 977% compared to the average daily volume of 73 put options.

ZEN stock traded down $1.26 during midday trading on Friday, reaching $45.09. 1,038,606 shares of the company’s stock traded hands, compared to its average volume of 1,663,916. The stock has a market capitalization of $4,661.45, a price-to-earnings ratio of -43.78 and a beta of 1.51. Zendesk has a 1-year low of $24.49 and a 1-year high of $50.15.

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Zendesk (NYSE:ZEN) last announced its quarterly earnings data on Tuesday, February 6th. The software maker reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03. The firm had revenue of $123.43 million for the quarter, compared to analyst estimates of $119.68 million. Zendesk had a negative return on equity of 32.48% and a negative net margin of 25.70%. The business’s quarterly revenue was up 39.3% compared to the same quarter last year. During the same period last year, the company earned ($0.04) EPS. equities research analysts forecast that Zendesk will post -1 earnings per share for the current year.

In other Zendesk news, Director Elizabeth A. Nelson sold 20,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $39.51, for a total transaction of $790,200.00. Following the completion of the transaction, the director now owns 63,833 shares in the company, valued at approximately $2,522,041.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adrian Mcdermott sold 1,593 shares of the company’s stock in a transaction on Friday, January 19th. The shares were sold at an average price of $36.27, for a total value of $57,778.11. Following the completion of the sale, the insider now owns 81,081 shares of the company’s stock, valued at approximately $2,940,807.87. The disclosure for this sale can be found here. Insiders sold a total of 196,936 shares of company stock valued at $8,032,434 over the last quarter. Company insiders own 5.30% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Xact Kapitalforvaltning AB bought a new position in shares of Zendesk in the 4th quarter worth $333,000. Pier Capital LLC bought a new position in shares of Zendesk in the 4th quarter worth $5,465,000. MetLife Investment Advisors LLC bought a new position in Zendesk during the fourth quarter worth about $1,537,000. Castleark Management LLC bought a new position in Zendesk during the fourth quarter worth about $10,784,000. Finally, EMS Capital LP lifted its holdings in Zendesk by 35.0% during the fourth quarter. EMS Capital LP now owns 1,620,000 shares of the software maker’s stock worth $54,821,000 after acquiring an additional 420,000 shares in the last quarter. Institutional investors and hedge funds own 93.22% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. ValuEngine raised Zendesk from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Royal Bank of Canada reissued a “buy” rating and set a $42.00 price target on shares of Zendesk in a research report on Wednesday, January 17th. Piper Jaffray reaffirmed a “buy” rating and issued a $42.00 target price on shares of Zendesk in a research report on Tuesday, January 23rd. Bank of America upped their target price on Zendesk from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Finally, Zacks Investment Research upgraded Zendesk from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a research note on Sunday, January 21st. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $42.33.

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About Zendesk

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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