Zendesk Inc (ZEN) Holdings Cut by Prudential Financial Inc.

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Prudential Financial Inc. decreased its position in Zendesk Inc (NYSE:ZEN) by 16.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,890 shares of the software maker’s stock after selling 1,910 shares during the period. Prudential Financial Inc.’s holdings in Zendesk were worth $473,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN boosted its position in Zendesk by 14.0% in the 4th quarter. Wells Fargo & Company MN now owns 2,105,554 shares of the software maker’s stock valued at $71,251,000 after buying an additional 258,469 shares during the last quarter. Whale Rock Capital Management LLC lifted its stake in shares of Zendesk by 24.5% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,805,901 shares of the software maker’s stock valued at $61,112,000 after purchasing an additional 355,577 shares during the period. EMS Capital LP lifted its stake in shares of Zendesk by 35.0% in the 4th quarter. EMS Capital LP now owns 1,620,000 shares of the software maker’s stock valued at $54,821,000 after purchasing an additional 420,000 shares during the period. Hunt Lane Capital LP lifted its stake in shares of Zendesk by 32.2% in the 4th quarter. Hunt Lane Capital LP now owns 900,000 shares of the software maker’s stock valued at $30,456,000 after purchasing an additional 219,000 shares during the period. Finally, Geode Capital Management LLC raised its stake in Zendesk by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 849,540 shares of the software maker’s stock worth $28,748,000 after buying an additional 18,334 shares during the period. 93.80% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently commented on ZEN shares. Piper Jaffray Companies raised their price objective on Zendesk to $60.00 and gave the stock an “overweight” rating in a research note on Monday, March 12th. KeyCorp restated an “overweight” rating and issued a $53.00 price objective (up previously from $43.00) on shares of Zendesk in a report on Tuesday, March 13th. ValuEngine upgraded Zendesk from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Royal Bank of Canada lifted their price target on Zendesk to $56.00 and gave the stock an “outperform” rating in a report on Wednesday, May 2nd. Finally, Stifel Nicolaus boosted their price objective on Zendesk from $38.00 to $45.00 and gave the stock a “hold” rating in a report on Wednesday, May 2nd. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $48.13.

In related news, Director Elizabeth A. Nelson sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 31st. The shares were sold at an average price of $56.68, for a total value of $566,800.00. Following the completion of the transaction, the director now directly owns 15,810 shares of the company’s stock, valued at approximately $896,110.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John Geschke sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $59.02, for a total transaction of $295,100.00. The disclosure for this sale can be found here. Insiders have sold a total of 44,101 shares of company stock valued at $2,393,848 over the last three months. Insiders own 4.70% of the company’s stock.

Shares of NYSE ZEN opened at $54.76 on Friday. Zendesk Inc has a 1-year low of $25.09 and a 1-year high of $60.26. The company has a debt-to-equity ratio of 1.10, a quick ratio of 3.20 and a current ratio of 3.20.

Zendesk (NYSE:ZEN) last posted its earnings results on Tuesday, May 1st. The software maker reported ($0.24) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.05. Zendesk had a negative net margin of 24.18% and a negative return on equity of 30.37%. The company had revenue of $129.79 million for the quarter, compared to analyst estimates of $126.76 million. research analysts expect that Zendesk Inc will post -0.97 earnings per share for the current year.

About Zendesk

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, in applications, and on mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that for customer self-service and support agent productivity; Zendesk Message, a customer messaging software; and Zendesk Explore that makes customer data accessible across an organization.

Institutional Ownership by Quarter for Zendesk (NYSE:ZEN)

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