MetLife Investment Advisors LLC Invests $1.54 Million in Zendesk Inc (ZEN) Stock

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.

How to Become a New Pot Stock Millionaire

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.

ILLEGAL ACTIVITY WARNING: This report was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this report on another site, it was stolen and republished in violation of US & international copyright and trademark legislation. The correct version of this report can be accessed at https://www.dispatchtribunal.com/2018/04/08/metlife-investment-advisors-llc-invests-1-54-million-in-zendesk-inc-zen-stock.html.

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.

Want to see what other hedge funds are holding ZEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zendesk Inc (NYSE:ZEN).

Institutional Ownership by Quarter for Zendesk (NYSE:ZEN)

Receive News & Ratings for Zendesk Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zendesk and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply