Moody Aldrich Partners LLC Makes New Investment in Zendesk Inc (NYSE:ZEN)

Moody Aldrich Partners LLC bought a new position in Zendesk Inc (NYSE:ZEN) in the second quarter, HoldingsChannel.com reports. The fund bought 2,470 shares of the software maker’s stock, valued at approximately $219,000.

A number of other large investors also recently bought and sold shares of the business. Guggenheim Capital LLC grew its position in Zendesk by 1.7% in the 1st quarter. Guggenheim Capital LLC now owns 8,098 shares of the software maker’s stock worth $519,000 after purchasing an additional 132 shares during the period. Virginia Retirement Systems ET AL grew its position in shares of Zendesk by 0.9% during the 1st quarter. Virginia Retirement Systems ET AL now owns 21,600 shares of the software maker’s stock valued at $1,383,000 after acquiring an additional 200 shares during the period. Ellevest Inc. grew its position in shares of Zendesk by 346.5% during the 1st quarter. Ellevest Inc. now owns 384 shares of the software maker’s stock valued at $25,000 after acquiring an additional 298 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of Zendesk during the 2nd quarter valued at $28,000. Finally, Rockefeller Capital Management L.P. grew its position in shares of Zendesk by 74.1% during the 1st quarter. Rockefeller Capital Management L.P. now owns 820 shares of the software maker’s stock valued at $52,000 after acquiring an additional 349 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Mikkel Svane sold 50,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $73.61, for a total value of $3,680,500.00. Following the sale, the chief executive officer now directly owns 1,078,223 shares in the company, valued at approximately $79,367,995.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carl Bass sold 9,668 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $77.18, for a total transaction of $746,176.24. Following the completion of the sale, the director now owns 11,468 shares in the company, valued at $885,100.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 142,594 shares of company stock worth $11,218,424. Corporate insiders own 4.30% of the company’s stock.

ZEN stock traded down $9.37 during mid-day trading on Friday, hitting $91.15. The company had a trading volume of 6,426,486 shares, compared to its average volume of 1,896,273. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of -58.06 and a beta of 1.33. Zendesk Inc has a 12-month low of $50.23 and a 12-month high of $101.94. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 1.28. The company has a 50-day moving average price of $88.52 and a 200 day moving average price of $79.73.

Zendesk (NYSE:ZEN) last announced its quarterly earnings results on Thursday, July 30th. The software maker reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.34. The business had revenue of $246.66 million for the quarter, compared to analysts’ expectations of $239.82 million. Zendesk had a negative net margin of 19.24% and a negative return on equity of 22.07%. As a group, analysts expect that Zendesk Inc will post -0.76 EPS for the current year.

A number of brokerages have recently issued reports on ZEN. Jefferies Financial Group boosted their price objective on shares of Zendesk from $91.00 to $113.00 and gave the company a “buy” rating in a research report on Friday. Zacks Investment Research raised shares of Zendesk from a “hold” rating to a “buy” rating and set a $113.00 price objective for the company in a research report on Saturday. Goldman Sachs Group boosted their price objective on shares of Zendesk from $96.00 to $113.00 in a research report on Monday, June 29th. Canaccord Genuity boosted their price objective on shares of Zendesk from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Finally, Oppenheimer lifted their target price on shares of Zendesk from $80.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $99.75.

Zendesk Profile

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, applications, and mobile devices; Zendesk Talk, a cloud-based call center software; Zendesk Guide, a knowledge base that powers customer self-service and support agent productivity; Zendesk Sell, a sales force automation software to enhance productivity, processes, and pipeline visibility for sales teams; Zendesk Connect that manages customer communication across channels; and Zendesk Explore, which provides analytics for businesses to measure and enhance the customer experience.

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Institutional Ownership by Quarter for Zendesk (NYSE:ZEN)

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