Zendesk, Inc. (NYSE:ZEN) Holdings Raised by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in Zendesk, Inc. (NYSE:ZEN) by 1.7% in the second quarter, Holdings Channel reports. The institutional investor owned 1,403,368 shares of the software maker’s stock after acquiring an additional 23,593 shares during the quarter. Geode Capital Management LLC’s holdings in Zendesk were worth $202,241,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position in Zendesk by 15.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,089,408 shares of the software maker’s stock worth $1,205,437,000 after buying an additional 1,197,247 shares in the last quarter. Alliancebernstein L.P. lifted its position in Zendesk by 5.8% in the 2nd quarter. Alliancebernstein L.P. now owns 2,390,133 shares of the software maker’s stock worth $344,992,000 after buying an additional 130,067 shares in the last quarter. Neuberger Berman Group LLC lifted its position in Zendesk by 20.1% in the 1st quarter. Neuberger Berman Group LLC now owns 2,338,527 shares of the software maker’s stock worth $309,671,000 after buying an additional 392,044 shares in the last quarter. Amundi Asset Management US Inc. raised its holdings in shares of Zendesk by 16.3% during the 1st quarter. Amundi Asset Management US Inc. now owns 1,959,211 shares of the software maker’s stock valued at $259,829,000 after purchasing an additional 274,617 shares in the last quarter. Finally, Whale Rock Capital Management LLC raised its holdings in shares of Zendesk by 84.1% during the 1st quarter. Whale Rock Capital Management LLC now owns 1,848,364 shares of the software maker’s stock valued at $245,130,000 after purchasing an additional 844,397 shares in the last quarter. Institutional investors own 94.16% of the company’s stock.

Shares of ZEN opened at $121.04 on Thursday. The company has a market capitalization of $14.53 billion, a PE ratio of -65.07 and a beta of 1.19. Zendesk, Inc. has a one year low of $103.28 and a one year high of $166.60. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.68 and a quick ratio of 1.68. The company’s fifty day moving average price is $120.87 and its 200 day moving average price is $133.74.

Zendesk (NYSE:ZEN) last posted its quarterly earnings results on Thursday, July 29th. The software maker reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.03). The company had revenue of $318.22 million during the quarter, compared to analyst estimates of $320.17 million. Zendesk had a negative return on equity of 31.88% and a negative net margin of 18.77%. Analysts anticipate that Zendesk, Inc. will post -0.81 earnings per share for the current year.

In other news, EVP Soren Abildgaard sold 7,066 shares of Zendesk stock in a transaction dated Monday, August 9th. The shares were sold at an average price of $128.32, for a total transaction of $906,709.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Geschke sold 3,000 shares of Zendesk stock in a transaction dated Tuesday, August 10th. The shares were sold at an average price of $125.61, for a total transaction of $376,830.00. Following the sale, the insider now owns 39,508 shares in the company, valued at $4,962,599.88. The disclosure for this sale can be found here. Insiders sold a total of 67,595 shares of company stock worth $8,223,092 over the last 90 days. Company insiders own 3.60% of the company’s stock.

A number of research analysts have recently weighed in on ZEN shares. Guggenheim restated a “buy” rating on shares of Zendesk in a report on Friday, August 27th. Piper Sandler cut their price target on shares of Zendesk from $186.00 to $175.00 and set an “overweight” rating on the stock in a report on Friday, July 30th. Finally, Zacks Investment Research downgraded shares of Zendesk from a “hold” rating to a “sell” rating in a report on Thursday, September 30th. One analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Zendesk presently has an average rating of “Buy” and an average target price of $174.73.

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.

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Institutional Ownership by Quarter for Zendesk (NYSE:ZEN)

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