Franklin Resources Inc. trimmed its stake in Zendesk Inc (NYSE:ZEN) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,894,059 shares of the software maker’s stock after selling 525,688 shares during the period. Franklin Resources Inc. owned about 3.84% of Zendesk worth $131,777,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board acquired a new stake in Zendesk in the third quarter valued at $105,000. Cerebellum GP LLC acquired a new stake in Zendesk in the fourth quarter valued at $132,000. SG Americas Securities LLC acquired a new stake in Zendesk in the third quarter valued at $193,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Zendesk by 47.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,723 shares of the software maker’s stock valued at $194,000 after purchasing an additional 1,836 shares during the period. Finally, First Mercantile Trust Co. acquired a new stake in Zendesk in the fourth quarter valued at $210,000. Institutional investors and hedge funds own 93.22% of the company’s stock.
A number of analysts recently weighed in on the company. KeyCorp increased their price objective on Zendesk from $43.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday. Piper Jaffray Companies increased their price objective on Zendesk to $60.00 and gave the company an “overweight” rating in a report on Monday. Stifel Nicolaus upped their price target on shares of Zendesk from $33.00 to $38.00 and gave the company a “hold” rating in a research report on Wednesday, February 7th. Craig Hallum reaffirmed a “buy” rating and set a $45.00 price target (up previously from $37.00) on shares of Zendesk in a research report on Wednesday, February 7th. Finally, Cowen upped their price target on shares of Zendesk from $39.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. Zendesk has an average rating of “Buy” and an average price target of $42.33.
Zendesk (NYSE:ZEN) last released its quarterly earnings data on Tuesday, February 6th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.03. The company had revenue of $123.43 million for the quarter, compared to analysts’ expectations of $119.68 million. Zendesk had a negative net margin of 25.70% and a negative return on equity of 32.48%. The business’s revenue was up 39.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) EPS. equities analysts predict that Zendesk Inc will post -1 earnings per share for the current fiscal year.
In other news, Director Elizabeth A. Nelson sold 20,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $39.51, for a total transaction of $790,200.00. Following the transaction, the director now owns 63,833 shares of the company’s stock, valued at approximately $2,522,041.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Geschke sold 3,507 shares of the stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $35.04, for a total transaction of $122,885.28. Following the transaction, the senior vice president now directly owns 12,582 shares in the company, valued at approximately $440,873.28. The disclosure for this sale can be found here. Insiders have sold a total of 196,858 shares of company stock worth $7,930,928 in the last three months. Insiders own 5.30% of the company’s stock.
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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