Insider Selling: Zendesk Inc. (ZEN) SVP Sells 10,000 Shares of Stock
Zendesk Inc. (NYSE:ZEN) SVP John Geschke sold 10,000 shares of the company’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $29.87, for a total value of $298,700.00. Following the completion of the transaction, the senior vice president now owns 11,380 shares in the company, valued at approximately $339,920.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
John Geschke also recently made the following trade(s):
- On Tuesday, September 13th, John Geschke sold 10,000 shares of Zendesk stock. The shares were sold at an average price of $29.50, for a total value of $295,000.00.
- On Friday, August 19th, John Geschke sold 5,000 shares of Zendesk stock. The shares were sold at an average price of $30.29, for a total value of $151,450.00.
Shares of Zendesk Inc. (NYSE:ZEN) opened at 28.26 on Wednesday. Zendesk Inc. has a 52-week low of $14.39 and a 52-week high of $31.88. The company’s market capitalization is $2.65 billion. The stock has a 50 day moving average price of $30.42 and a 200 day moving average price of $26.90.
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Zendesk (NYSE:ZEN) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.06) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.03. The company had revenue of $74.20 million for the quarter, compared to analyst estimates of $72.34 million. Zendesk had a negative return on equity of 30.61% and a negative net margin of 37.10%. Zendesk’s revenue was up 53.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.08) earnings per share. On average, analysts predict that Zendesk Inc. will post ($0.04) earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in ZEN. Essex Investment Management Co. LLC raised its stake in Zendesk by 649.4% in the second quarter. Essex Investment Management Co. LLC now owns 119,346 shares of the company’s stock worth $3,148,000 after buying an additional 103,421 shares in the last quarter. Strs Ohio raised its stake in shares of Zendesk by 121.3% in the second quarter. Strs Ohio now owns 46,700 shares of the company’s stock worth $1,231,000 after buying an additional 25,600 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Zendesk during the second quarter worth about $346,000. Hamilton Lane Advisors LLC raised its stake in shares of Zendesk by 39.8% in the second quarter. Hamilton Lane Advisors LLC now owns 80,763 shares of the company’s stock worth $1,978,000 after buying an additional 22,983 shares in the last quarter. Finally, Thrax Management LLC raised its stake in shares of Zendesk by 38.7% in the first quarter. Thrax Management LLC now owns 549,550 shares of the company’s stock worth $11,502,000 after buying an additional 153,336 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.
A number of brokerages have recently weighed in on ZEN. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $35.00 target price on shares of Zendesk in a report on Saturday, August 13th. Zacks Investment Research upgraded Zendesk from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a report on Thursday, August 11th. Morgan Stanley upped their target price on Zendesk from $30.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, July 14th. Summit Research reissued a “buy” rating and issued a $34.00 price target on shares of Zendesk in a research note on Monday, July 18th. Finally, Stifel Nicolaus assumed coverage on Zendesk in a research note on Monday, July 18th. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Zendesk currently has an average rating of “Buy” and a consensus price target of $32.73.
Zendesk Company Profile
Zendesk, Inc is a software development company. The Company provides software as a service (SaaS) customer service platform. The Company’s platform consolidates the data from customer interactions and provides organizations with analytics and performance benchmarking. The Company also provides SaaS live chat software that can be utilized independently to facilitate communications between organizations and their customers.
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