Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Zendesk Inc. shares valued at $80,194 were sold by McDermott Adrian on May 18. At $98.64 per share, McDermott Adrian sold 813 shares. The insider’s holdings dropped to 92,760 shares worth approximately $5.38 million following the completion of this transaction.
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Also, McDermott Adrian sold 242 shares, netting a total of over 24,336 in proceeds. Following the sale of shares at $100.56 each, the insider now holds 93,573 shares.
Before that, Gennaro Norman had sold 7,000 shares from its account. In a trade valued at $701,400, the President of Sales traded Zendesk Inc. shares for $100.20 each. Upon closing the transaction, the insider’s holdings decreased to 7,000 shares, worth approximately $1.79 million.
As published in a research note from Morgan Stanley on June 13, 2022, Zendesk Inc. [ZEN] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $80 from $145. This represents a 27.56% premium over Thursday’s closing price. Analysts at Wolfe Research downgraded the stock from ‘”an Outperform”‘ to ‘”a Peer perform”‘ outlook in a report released in mid February. As of November 19, 2021, Cowen has decreased its “an Outperform” rating to a “Market perform” for ZEN. Earlier on November 16, 2021, Credit Suisse initiated its rating. Their recommendation was “a Neutral” for ZEN stock.
Analyzing ZEN’s Price Performance
On Thursday, Zendesk Inc. [NYSE: ZEN] rose 1.29% to $57.95. The stock’s lowest price that day was $56.22, but it reached a high of $58.74 in the same session. During the last five days, there has been a drop of approximately -3.72%. Over the course of the year, Zendesk Inc. shares have dropped approximately -44.43%. Shares of the company reached a 52-week high of $130.83 on 04/19/22 and a 52-week low of $54.16 on 06/16/22. A 50-day SMA is recorded $97.54, while a 200-day SMA reached $106.94. Nevertheless, trading volume fell to 1.24 million shares from 1.86 million shares the previous day.
Support And Resistance Levels for Zendesk Inc. (ZEN)
According to the 24-hour chart, there is a support level at 56.53, which, if violated, would cause prices to drop to 55.12. In the upper region, resistance lies at 59.05. The next price resistance is at 60.16. RSI (Relative Strength Index) is 27.09 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -9.76, which suggests the price will decrease in the coming days. Percent R is at 90.16%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Zendesk Inc. subject to short interest?
Stocks of Zendesk Inc. saw a sharp rise in short interest on May 30, 2022 jumping by 1.02 million shares to 7.75 million. Data from Yahoo Finance shows that the short interest on Apr 28, 2022 was 6.73 million shares. A jump of 13.16% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.4 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.4.
Which companies own the most shares of Zendesk Inc. (ZEN)?
According to Capital Research & Management Co filings, the company currently owns 11,261,323 shares, which is about 9.19% of the total ZEN shares outstanding. The investor’s shares have plunged by -3,405,047 from its previous 13-F filing of 14666370.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $1,021,614,379. Janus Henderson Investors US LLC acquire a 28.68% interest valued at $681.74 million while BlackRock Fund Advisors purchased a 154,396 stake. A total of 711,839 shares of Zendesk Inc. were bought by JANA Partners LLC during the quarter, and 227,870 were bought by Meritage Group LP. In its current portfolio, Pictet Asset Management SA holds 2,854,401 shares valued at $261.03 million.
In spite of this, 19 analysts ranked Zendesk Inc. stock as an Overweight at the end of 2022. On October 29, 2021, Wolfe Research assigned a price target of “an Outperform” to the stock and reiterated coverage with a $130.