Zendesk Sees Unusually High Options Volume (ZEN)

Zendesk Inc (NYSE:ZEN) was the recipient of unusually large options trading activity on Wednesday. Traders purchased 1,191 put options on the company. This is an increase of 1,408% compared to the average volume of 79 put options.

A number of equities analysts have issued reports on ZEN shares. Royal Bank of Canada reaffirmed a “buy” rating and set a $35.00 price objective on shares of Zendesk in a report on Wednesday, October 18th. KeyCorp reiterated a “buy” rating and set a $35.00 target price on shares of Zendesk in a research note on Sunday, October 15th. Canaccord Genuity lifted their target price on Zendesk from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Zacks Investment Research upgraded Zendesk from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Tuesday, November 7th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $42.00 target price on shares of Zendesk in a research note on Tuesday, January 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. Zendesk has a consensus rating of “Buy” and a consensus price target of $40.31.

In other Zendesk news, SVP John Geschke sold 9,727 shares of Zendesk stock in a transaction on Monday, November 13th. The shares were sold at an average price of $35.09, for a total transaction of $341,320.43. Following the transaction, the senior vice president now directly owns 16,195 shares of the company’s stock, valued at approximately $568,282.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adrian Mcdermott sold 1,593 shares of Zendesk stock in a transaction on Friday, January 19th. The stock was sold at an average price of $36.27, for a total transaction of $57,778.11. Following the transaction, the insider now directly owns 81,081 shares in the company, valued at $2,940,807.87. The disclosure for this sale can be found here. Insiders have sold a total of 101,426 shares of company stock worth $3,543,308 over the last ninety days. Insiders own 5.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Advisor Group Inc. raised its stake in Zendesk by 44.3% in the 2nd quarter. Advisor Group Inc. now owns 3,701 shares of the software maker’s stock valued at $103,000 after acquiring an additional 1,137 shares during the period. Canada Pension Plan Investment Board bought a new stake in Zendesk in the 3rd quarter valued at about $105,000. Cerebellum GP LLC bought a new stake in Zendesk in the 4th quarter valued at about $132,000. SG Americas Securities LLC bought a new stake in Zendesk in the 3rd quarter valued at about $193,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Zendesk by 47.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,723 shares of the software maker’s stock valued at $194,000 after acquiring an additional 1,836 shares during the period. Institutional investors and hedge funds own 93.94% of the company’s stock.

Shares of Zendesk (NYSE:ZEN) opened at $39.10 on Friday. The company has a market capitalization of $4,107.99, a price-to-earnings ratio of -35.23 and a beta of 1.87. Zendesk has a 52 week low of $24.49 and a 52 week high of $42.35.

Zendesk (NYSE:ZEN) last announced its quarterly earnings data on Tuesday, February 6th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03. Zendesk had a negative return on equity of 32.88% and a negative net margin of 25.70%. The business had revenue of $123.43 million for the quarter, compared to analysts’ expectations of $119.68 million. During the same period in the previous year, the business posted ($0.04) EPS. The firm’s quarterly revenue was up 39.3% compared to the same quarter last year. equities analysts expect that Zendesk will post -1.07 EPS for the current year.

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Zendesk Company Profile

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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