Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Zendesk, Inc. (NYSE:ZEN) during the fourth quarter, Holdings Channel.com reports. The fund bought 1,200 shares of the software maker’s stock, valued at approximately $172,000.
A number of other hedge funds have also modified their holdings of ZEN. Guggenheim Capital LLC increased its holdings in shares of Zendesk by 15.1% in the third quarter. Guggenheim Capital LLC now owns 13,157 shares of the software maker’s stock worth $1,355,000 after purchasing an additional 1,727 shares during the period. Boothbay Fund Management LLC bought a new position in shares of Zendesk in the third quarter worth $241,000. Polar Capital LLP increased its holdings in shares of Zendesk by 21.3% in the third quarter. Polar Capital LLP now owns 1,451,142 shares of the software maker’s stock worth $149,352,000 after purchasing an additional 254,346 shares during the period. Squarepoint Ops LLC bought a new position in shares of Zendesk in the third quarter worth $3,886,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Zendesk in the third quarter worth $66,376,000. 97.39% of the stock is currently owned by institutional investors and hedge funds.
NYSE ZEN opened at $137.62 on Thursday. The company has a 50-day simple moving average of $138.73 and a two-hundred day simple moving average of $132.33. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 2.54. Zendesk, Inc. has a 12-month low of $63.49 and a 12-month high of $166.60. The firm has a market cap of $16.21 billion, a price-to-earnings ratio of -87.66 and a beta of 1.27.
Several research analysts have recently weighed in on ZEN shares. Morgan Stanley upped their price target on shares of Zendesk from $165.00 to $181.00 and gave the stock an “overweight” rating in a report on Friday, February 5th. JMP Securities upped their target price on shares of Zendesk from $143.00 to $193.00 and gave the stock an “outperform” rating in a research report on Friday, February 5th. Canaccord Genuity upped their target price on shares of Zendesk from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, February 5th. They noted that the move was a valuation call. Stifel Nicolaus initiated coverage on shares of Zendesk in a research report on Thursday. They issued a “buy” rating for the company. Finally, Cowen upped their target price on shares of Zendesk from $165.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, February 5th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $143.31.
In other news, CFO Elena Gomez sold 5,000 shares of the stock in a transaction dated Wednesday, January 20th. The shares were sold at an average price of $147.73, for a total transaction of $738,650.00. Following the completion of the sale, the chief financial officer now directly owns 15,324 shares in the company, valued at $2,263,814.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Norman Gennaro sold 1,000 shares of the stock in a transaction dated Monday, January 11th. The stock was sold at an average price of $147.94, for a total transaction of $147,940.00. Following the sale, the insider now owns 24,583 shares of the company’s stock, valued at $3,636,809.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 120,579 shares of company stock valued at $17,235,017. Company insiders own 4.30% of the company’s stock.
Zendesk Company Profile
Zendesk, Inc, a software development company, provides software as a service solutions for organizations in North America, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels.
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