LA Financiere DE L Echiquier Sells 12,700 Shares of Zendesk, Inc. (NYSE:ZEN)

LA Financiere DE L Echiquier reduced its position in Zendesk, Inc. (NYSE:ZENGet Rating) by 8.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 131,800 shares of the software maker’s stock after selling 12,700 shares during the period. LA Financiere DE L Echiquier owned 0.11% of Zendesk worth $15,855,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ZEN. Acadian Asset Management LLC bought a new stake in shares of Zendesk in the 4th quarter valued at about $26,000. Quadrant Capital Group LLC boosted its holdings in shares of Zendesk by 102.3% in the 4th quarter. Quadrant Capital Group LLC now owns 259 shares of the software maker’s stock valued at $27,000 after buying an additional 131 shares in the last quarter. Prospera Financial Services Inc bought a new stake in shares of Zendesk in the 1st quarter valued at about $33,000. Capital Advisory Group Advisory Services LLC purchased a new position in shares of Zendesk in the 1st quarter valued at approximately $34,000. Finally, William Allan LLC purchased a new position in shares of Zendesk in the 4th quarter valued at approximately $38,000. 98.72% of the stock is currently owned by institutional investors.

Insider Activity at Zendesk

In related news, insider Norman Gennaro sold 7,000 shares of Zendesk stock in a transaction on Sunday, May 15th. The shares were sold at an average price of $100.20, for a total value of $701,400.00. Following the sale, the insider now owns 30,911 shares of the company’s stock, valued at approximately $3,097,282.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Zendesk news, CTO Adrian Mcdermott sold 9,761 shares of Zendesk stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $120.25, for a total transaction of $1,173,760.25. Following the sale, the chief technology officer now owns 92,760 shares of the company’s stock, valued at approximately $11,154,390. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Norman Gennaro sold 7,000 shares of Zendesk stock in a transaction on Sunday, May 15th. The stock was sold at an average price of $100.20, for a total transaction of $701,400.00. Following the sale, the insider now directly owns 30,911 shares in the company, valued at approximately $3,097,282.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,003 shares of company stock valued at $2,952,996. 2.92% of the stock is owned by company insiders.

Zendesk Stock Performance

Shares of NYSE:ZEN traded up $0.25 during trading on Thursday, hitting $75.19. 65,750 shares of the stock traded hands, compared to its average volume of 3,011,951. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 3.47. The company has a market cap of $9.27 billion, a price-to-earnings ratio of -37.39 and a beta of 1.04. The company has a fifty day moving average price of $76.48 and a two-hundred day moving average price of $99.87. Zendesk, Inc. has a 52-week low of $54.16 and a 52-week high of $153.43.

Zendesk (NYSE:ZENGet Rating) last released its quarterly earnings results on Thursday, April 28th. The software maker reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.15). Zendesk had a negative net margin of 16.91% and a negative return on equity of 36.18%. The company had revenue of $388.30 million during the quarter, compared to analyst estimates of $384.62 million. During the same period in the prior year, the business posted ($0.29) EPS. Zendesk’s revenue was up 30.3% compared to the same quarter last year. As a group, equities analysts predict that Zendesk, Inc. will post -1.06 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Craig Hallum lowered shares of Zendesk from a “buy” rating to a “hold” rating and decreased their price objective for the company from $140.00 to $77.50 in a research report on Wednesday, June 29th. Jefferies Financial Group decreased their price objective on shares of Zendesk from $120.00 to $110.00 in a research report on Monday, May 23rd. Canaccord Genuity Group lowered shares of Zendesk from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Piper Sandler decreased their price objective on shares of Zendesk from $140.00 to $77.50 and set a “neutral” rating for the company in a research report on Monday, July 18th. Finally, Evercore ISI reduced their price target on shares of Zendesk from $128.00 to $66.00 and set an “in-line” rating for the company in a research report on Friday, June 17th. Fifteen equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Zendesk currently has an average rating of “Hold” and a consensus target price of $95.69.

Zendesk Profile

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Zendesk, Inc, a software development company, provides software as a service solutions for organizations in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels.

Further Reading

Institutional Ownership by Quarter for Zendesk (NYSE:ZEN)

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