MetLife Investment Advisors LLC purchased a new position in Zendesk Inc (NYSE:ZEN) during the 4th quarter, Holdings Channel reports. The firm purchased 45,410 shares of the software maker’s stock, valued at approximately $1,537,000.
Other institutional investors have also modified their holdings of the company. Cerebellum GP LLC bought a new stake in Zendesk in the fourth quarter worth about $132,000. SG Americas Securities LLC bought a new stake in Zendesk in the third quarter worth about $193,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Zendesk by 47.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,723 shares of the software maker’s stock worth $194,000 after acquiring an additional 1,836 shares in the last quarter. First Mercantile Trust Co. bought a new stake in Zendesk in the fourth quarter worth about $210,000. Finally, Invictus RG bought a new stake in Zendesk in the fourth quarter worth about $268,000. Hedge funds and other institutional investors own 93.22% of the company’s stock.
NYSE:ZEN opened at $45.09 on Friday. Zendesk Inc has a fifty-two week low of $24.49 and a fifty-two week high of $50.15. The stock has a market cap of $4,791.73, a price-to-earnings ratio of -43.78 and a beta of 1.51.
Zendesk (NYSE:ZEN) last released its earnings results on Tuesday, February 6th. The software maker reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Zendesk had a negative return on equity of 32.48% and a negative net margin of 25.70%. The company had revenue of $123.43 million for the quarter, compared to analysts’ expectations of $119.68 million. During the same quarter in the previous year, the business posted ($0.04) EPS. The business’s revenue for the quarter was up 39.3% on a year-over-year basis. equities research analysts forecast that Zendesk Inc will post -1 earnings per share for the current year.
In other Zendesk news, Director Elizabeth A. Nelson sold 20,000 shares of Zendesk stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $39.51, for a total transaction of $790,200.00. Following the transaction, the director now owns 63,833 shares of the company’s stock, valued at approximately $2,522,041.83. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Elena Gomez sold 5,000 shares of Zendesk stock in a transaction dated Tuesday, March 27th. The shares were sold at an average price of $50.00, for a total value of $250,000.00. Following the transaction, the chief financial officer now directly owns 13,382 shares in the company, valued at approximately $669,100. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 196,936 shares of company stock worth $8,032,434. Company insiders own 5.30% of the company’s stock.
Several analysts have issued reports on ZEN shares. KeyCorp restated an “overweight” rating and set a $53.00 price objective (up previously from $43.00) on shares of Zendesk in a report on Tuesday, March 13th. Cowen boosted their price objective on Zendesk from $39.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Stephens upgraded Zendesk from an “underweight” rating to an “equal weight” rating in a report on Wednesday, February 7th. Piper Jaffray boosted their price objective on Zendesk to $60.00 and gave the stock an “overweight” rating in a report on Monday, March 12th. Finally, Zacks Investment Research restated a “hold” rating on shares of Zendesk in a report on Saturday, January 27th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Zendesk has a consensus rating of “Buy” and an average target price of $42.33.
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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, 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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