Neuberger Berman Group LLC Purchases 727,082 Shares of Zendesk, Inc. (NYSE:ZEN)

Neuberger Berman Group LLC raised its position in shares of Zendesk, Inc. (NYSE:ZENGet Rating) by 900.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 807,818 shares of the software maker’s stock after acquiring an additional 727,082 shares during the period. Neuberger Berman Group LLC owned approximately 0.66% of Zendesk worth $97,172,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Allworth Financial LP increased its position in Zendesk by 59.3% during the first quarter. Allworth Financial LP now owns 325 shares of the software maker’s stock valued at $39,000 after acquiring an additional 121 shares during the last quarter. Buckingham Strategic Wealth LLC grew its holdings in shares of Zendesk by 1.1% in the first quarter. Buckingham Strategic Wealth LLC now owns 12,648 shares of the software maker’s stock worth $1,521,000 after purchasing an additional 133 shares during the last quarter. Pendal Group Ltd grew its holdings in shares of Zendesk by 1.1% in the first quarter. Pendal Group Ltd now owns 12,900 shares of the software maker’s stock worth $1,552,000 after purchasing an additional 137 shares during the last quarter. M&T Bank Corp grew its holdings in shares of Zendesk by 4.9% in the first quarter. M&T Bank Corp now owns 3,503 shares of the software maker’s stock worth $420,000 after purchasing an additional 165 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Zendesk by 1.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 10,334 shares of the software maker’s stock worth $1,275,000 after purchasing an additional 181 shares during the last quarter. Institutional investors own 90.15% of the company’s stock.

Insider Activity at Zendesk

In related news, CEO Mikkel Svane sold 101,930 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $75.28, for a total value of $7,673,290.40. Following the completion of the transaction, the chief executive officer now directly owns 751,983 shares of the company’s stock, valued at approximately $56,609,280.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Mikkel Svane sold 101,930 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $75.28, for a total value of $7,673,290.40. Following the completion of the transaction, the chief executive officer now directly owns 751,983 shares of the company’s stock, valued at approximately $56,609,280.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Norman Gennaro sold 7,000 shares of the stock in a transaction that occurred on Friday, June 24th. The stock was sold at an average price of $75.50, for a total transaction of $528,500.00. Following the completion of the transaction, the insider now owns 29,813 shares in the company, valued at approximately $2,250,881.50. The disclosure for this sale can be found here. Insiders sold 173,743 shares of company stock valued at $13,115,598 in the last three months. 2.92% of the stock is owned by insiders.

Zendesk Stock Performance

ZEN stock opened at $76.60 on Friday. The firm has a market cap of $9.46 billion, a price-to-earnings ratio of -33.60 and a beta of 0.97. The firm has a 50-day simple moving average of $75.93 and a two-hundred day simple moving average of $92.94. Zendesk, Inc. has a one year low of $54.16 and a one year high of $136.30. The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.62 and a current ratio of 1.62.

Zendesk (NYSE:ZENGet Rating) last released its quarterly earnings results on Thursday, July 28th. The software maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.12). The firm had revenue of $407.21 million for the quarter, compared to analysts’ expectations of $404.68 million. Zendesk had a negative net margin of 18.33% and a negative return on equity of 42.82%. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.35) earnings per share. On average, equities analysts forecast that Zendesk, Inc. will post -0.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ZEN shares. Canaccord Genuity Group cut shares of Zendesk from a “buy” rating to a “hold” rating in a report on Friday, June 24th. Cowen cut their price target on shares of Zendesk to $77.50 in a report on Monday, July 4th. Evercore ISI dropped their target price on shares of Zendesk from $128.00 to $66.00 and set an “in-line” rating on the stock in a report on Friday, June 17th. UBS Group dropped their target price on shares of Zendesk from $128.00 to $77.50 in a report on Friday, June 24th. Finally, Piper Sandler dropped their target price on shares of Zendesk from $140.00 to $77.50 and set a “neutral” rating on the stock in a report on Monday, July 18th. Fifteen equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $95.69.

Zendesk Profile

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Zendesk, Inc, a software development company, provides software as a service solutions for organizations in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. Its flagship product is Zendesk Support, a system for tracking, prioritizing, and solving customer support tickets across various channels.

Further Reading

Institutional Ownership by Quarter for Zendesk (NYSE:ZEN)

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