Commerce Bank Sells 1,753 Shares of Zendesk, Inc. (NYSE:ZEN)

Commerce Bank lessened its position in Zendesk, Inc. (NYSE:ZEN) by 24.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,378 shares of the software maker’s stock after selling 1,753 shares during the quarter. Commerce Bank’s holdings in Zendesk were worth $626,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Comerica Bank grew its stake in shares of Zendesk by 15.9% during the second quarter. Comerica Bank now owns 45,466 shares of the software maker’s stock valued at $5,456,000 after buying an additional 6,223 shares during the last quarter. Advisor Resource Council purchased a new stake in Zendesk in the second quarter worth about $1,299,000. Wexford Capital LP purchased a new stake in Zendesk in the second quarter worth about $3,175,000. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Zendesk in the second quarter worth about $31,625,000. Finally, Jag Capital Management LLC lifted its holdings in shares of Zendesk by 9.1% during the third quarter. Jag Capital Management LLC now owns 34,865 shares of the software maker’s stock valued at $4,058,000 after purchasing an additional 2,910 shares during the last quarter. 96.30% of the stock is currently owned by institutional investors and hedge funds.

Shares of ZEN stock opened at $100.41 on Friday. Zendesk, Inc. has a 1 year low of $90.51 and a 1 year high of $166.60. The firm has a fifty day moving average price of $100.42 and a 200-day moving average price of $117.63. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market cap of $12.21 billion, a price-to-earnings ratio of -51.23 and a beta of 1.09.

Zendesk (NYSE:ZEN) last issued its quarterly earnings data on Thursday, October 28th. The software maker reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. Zendesk had a negative net margin of 18.59% and a negative return on equity of 31.60%. The firm had revenue of $346.97 million during the quarter, compared to the consensus estimate of $335.33 million. During the same quarter in the previous year, the firm posted ($0.22) EPS. The company’s revenue for the quarter was up 32.5% compared to the same quarter last year. Equities research analysts expect that Zendesk, Inc. will post -0.82 EPS for the current year.

ZEN has been the subject of a number of recent analyst reports. Cowen lowered shares of Zendesk from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $140.00 to $115.00 in a report on Friday, November 19th. decreased their price objective on shares of Zendesk from $180.00 to $140.00 and set a “buy” rating for the company in a report on Friday, October 29th. Stifel Nicolaus decreased their price objective on shares of Zendesk from $175.00 to $150.00 and set a “buy” rating for the company in a report on Friday, October 29th. Credit Suisse Group initiated coverage on shares of Zendesk in a report on Tuesday, November 16th. They issued a “neutral” rating and a $115.00 price objective for the company. Finally, Wolfe Research decreased their price objective on shares of Zendesk from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Friday, October 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $148.92.

In other Zendesk news, CEO Mikkel Svane sold 43,875 shares of the business’s stock in a transaction on Monday, November 15th. The shares were sold at an average price of $103.65, for a total value of $4,547,643.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Soren Abildgaard sold 251 shares of the business’s stock in a transaction on Wednesday, October 20th. The stock was sold at an average price of $129.00, for a total transaction of $32,379.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,972 shares of company stock worth $11,255,112. 3.60% of the stock is owned by corporate insiders.

Zendesk Profile

Zendesk, Inc engages in the provision of customer service platform which enables companies to provide customer support. Its products and services include support; guide; chat; talk; message; inbox team email; explore; connect plus outbound; integrations and apps; embeddables; insights and analytics; and products update.

Further Reading: Asset Allocation, Balancing Your Investments

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.