DnB Asset Management AS increased its stake in shares of Zendesk, Inc. (NYSE:ZEN – Get Rating) by 4.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,158 shares of the software maker's stock after purchasing an additional 827 shares during the quarter. DnB Asset Management AS's holdings in Zendesk were worth $1,419,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in ZEN. Acadian Asset Management LLC acquired a new stake in shares of Zendesk during the fourth quarter worth approximately $26,000. AdvisorNet Financial Inc acquired a new stake in shares of Zendesk during the second quarter worth approximately $26,000. Achmea Investment Management B.V. acquired a new stake in shares of Zendesk during the first quarter worth approximately $26,000. Prospera Financial Services Inc acquired a new stake in shares of Zendesk during the first quarter worth approximately $33,000. Finally, Capital Advisory Group Advisory Services LLC acquired a new stake in Zendesk in the first quarter valued at approximately $34,000. 90.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on ZEN shares. Barclays reiterated an "equal weight" rating and issued a $78.00 target price (down from $170.00) on shares of Zendesk in a research note on Tuesday, June 28th. Craig Hallum cut shares of Zendesk from a "buy" rating to a "hold" rating and reduced their target price for the company from $140.00 to $77.50 in a research note on Wednesday, June 29th. Morgan Stanley cut shares of Zendesk from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $145.00 to $80.00 in a research note on Monday, June 13th. JMP Securities cut shares of Zendesk from an "outperform" rating to a "market perform" rating in a research note on Tuesday, July 26th. Finally, Stifel Nicolaus cut shares of Zendesk from a "buy" rating to a "hold" rating in a research note on Tuesday, July 26th. Fifteen research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $95.69.

Zendesk Stock Performance

Zendesk (NYSE:ZEN – Get Rating) last announced its earnings results on Thursday, July 28th. The software maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.12). Zendesk had a negative return on equity of 42.82% and a negative net margin of 18.33%. The company had revenue of $407.21 million for the quarter, compared to the consensus estimate of $404.68 million. During the same period last year, the firm posted ($0.35) EPS. The company's revenue was up 28.0% compared to the same quarter last year. As a group, sell-side analysts predict that Zendesk, Inc. will post -0.99 EPS for the current year.

Insider Buying and Selling

In related news, insider Norman Gennaro sold 7,000 shares of the business's stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $75.00, for a total transaction of $525,000.00. Following the transaction, the insider now owns 28,715 shares of the company's stock, valued at $2,153,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Zendesk news, insider Norman Gennaro sold 7,000 shares of the business's stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $75.00, for a total value of $525,000.00. Following the sale, the insider now owns 28,715 shares of the company's stock, valued at approximately $2,153,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Jeffrey J. Titterton sold 20,000 shares of the business's stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $76.75, for a total transaction of $1,535,000.00. Following the completion of the sale, the chief operating officer now directly owns 687 shares in the company, valued at approximately $52,727.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,743 shares of company stock valued at $13,651,448. 2.92% of the stock is owned by company insiders.

About Zendesk

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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.

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