Zendesk Target of Unusually High Options Trading (ZEN)
Zendesk Inc (NYSE:ZEN) was the recipient of some unusual options trading on Thursday. Stock investors purchased 1,222 call options on the stock. This represents an increase of approximately 1,243% compared to the average daily volume of 91 call options.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Zendesk from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. UBS Group restated a “neutral” rating and set a $38.00 target price (up previously from $37.00) on shares of Zendesk in a research report on Thursday, November 9th. Stifel Nicolaus restated a “neutral” rating on shares of Zendesk in a research report on Friday, November 3rd. Stephens downgraded Zendesk from an “equal weight” rating to an “underweight” rating and set a $25.00 target price for the company. in a research report on Monday, October 9th. Finally, Canaccord Genuity boosted their target price on Zendesk from $34.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. Zendesk presently has an average rating of “Buy” and an average target price of $34.13.
Shares of Zendesk (NYSE ZEN) opened at $37.51 on Friday. The company has a market capitalization of $3,810.00, a PE ratio of -34.10 and a beta of 1.83. Zendesk has a fifty-two week low of $22.20 and a fifty-two week high of $37.71.
In other news, insider Adrian Mcdermott sold 1,767 shares of the business’s stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $30.10, for a total transaction of $53,186.70. Following the completion of the sale, the insider now owns 80,726 shares in the company, valued at $2,429,852.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Elena Gomez sold 1,200 shares of the business’s stock in a transaction on Thursday, October 19th. The stock was sold at an average price of $30.10, for a total value of $36,120.00. Following the sale, the chief financial officer now owns 3,925 shares of the company’s stock, valued at approximately $118,142.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 153,800 shares of company stock valued at $5,309,267. Corporate insiders own 5.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC grew its stake in Zendesk by 10.8% in the third quarter. Neuberger Berman Group LLC now owns 34,821 shares of the software maker’s stock valued at $1,014,000 after acquiring an additional 3,392 shares during the period. California Public Employees Retirement System grew its stake in Zendesk by 2.6% in the third quarter. California Public Employees Retirement System now owns 110,600 shares of the software maker’s stock valued at $3,220,000 after acquiring an additional 2,800 shares during the period. Point72 Asset Management L.P. grew its stake in Zendesk by 127.5% in the third quarter. Point72 Asset Management L.P. now owns 23,200 shares of the software maker’s stock valued at $675,000 after acquiring an additional 13,000 shares during the period. Granahan Investment Management Inc. MA acquired a new position in Zendesk in the third quarter valued at about $5,290,000. Finally, Alyeska Investment Group L.P. acquired a new position in Zendesk in the third quarter valued at about $9,017,000. Institutional investors and hedge funds own 95.67% of the company’s stock.
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Zendesk, Inc (Zendesk) is a software development company. The Zendesk family of products is built to work together to help organizations understand and manage customer relationships. All Zendesk products share a common interface and are being developed to support a shared services infrastructure and common customer data platform.
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