Zendesk Inc (NYSE:ZEN) shares dropped 0% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $63.47 and last traded at $64.37, approximately 123,185 shares changed hands during mid-day trading. A decline of 94% from the average daily volume of 2,112,161 shares. The stock had previously closed at $64.40.
Specifically, CEO Mikkel Svane sold 100,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $77.04, for a total value of $7,704,000.00. Following the completion of the sale, the chief executive officer now owns 1,228,532 shares in the company, valued at approximately $94,646,105.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Elena Gomez sold 4,500 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $64.50, for a total transaction of $290,250.00. Following the completion of the sale, the chief financial officer now owns 22,034 shares of the company’s stock, valued at approximately $1,421,193. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,648 shares of company stock valued at $19,617,694. Company insiders own 4.60% of the company’s stock.
ZEN has been the subject of several analyst reports. Royal Bank of Canada decreased their price objective on shares of Zendesk from $106.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Wedbush decreased their price target on shares of Zendesk from $106.00 to $98.00 and set an “outperform” rating for the company in a research note on Wednesday, October 16th. They noted that the move was a valuation call. Canaccord Genuity raised their price target on shares of Zendesk from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. ValuEngine lowered shares of Zendesk from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research restated a “hold” rating and set a $82.00 price target on shares of Zendesk in a research note on Saturday. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Zendesk currently has an average rating of “Buy” and a consensus price target of $95.99.
The firm has a market capitalization of $7.15 billion, a PE ratio of -67.08 and a beta of 1.22. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.67 and a current ratio of 0.67. The business’s 50 day moving average is $73.40 and its two-hundred day moving average is $82.64.
Zendesk (NYSE:ZEN) last released its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.33. Zendesk had a negative net margin of 23.70% and a negative return on equity of 27.44%. The business had revenue of $194.58 million during the quarter, compared to analyst estimates of $192.47 million. During the same period in the previous year, the business earned $0.03 EPS. Zendesk’s revenue was up 37.1% compared to the same quarter last year. As a group, equities research analysts predict that Zendesk Inc will post -1.1 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Zendesk by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 9,860,855 shares of the software maker’s stock valued at $877,912,000 after purchasing an additional 113,663 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Zendesk by 75.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 9,133,023 shares of the software maker’s stock valued at $813,113,000 after purchasing an additional 3,920,837 shares during the period. Janus Henderson Group PLC boosted its holdings in Zendesk by 10.3% in the 2nd quarter. Janus Henderson Group PLC now owns 3,180,927 shares of the software maker’s stock valued at $283,198,000 after purchasing an additional 296,002 shares during the period. Wells Fargo & Company MN boosted its holdings in Zendesk by 18.4% in the 2nd quarter. Wells Fargo & Company MN now owns 1,461,387 shares of the software maker’s stock valued at $130,106,000 after purchasing an additional 227,524 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Zendesk by 40.1% in the 2nd quarter. First Trust Advisors LP now owns 864,905 shares of the software maker’s stock valued at $77,002,000 after purchasing an additional 247,599 shares during the period. Institutional investors and hedge funds own 92.79% of the company’s stock.
Zendesk Company Profile (NYSE:ZEN)
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, applications, and mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that powers customer self-service and support agent productivity; Zendesk Sell, a sales force automation software to enhance productivity, processes, and pipeline visibility for sales teams; Zendesk Connect that manages customer communication across channels; and Zendesk Explore, which provides analytics for businesses to measure and enhance the customer experience.
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