Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Zendesk Inc. shares valued at $7,673,657 were sold by Svane Mikkel on Aug 02. At $75.28 per share, Svane Mikkel sold 101,930 shares. The insider’s holdings dropped to 751,983 shares worth approximately $57.21 million following the completion of this transaction.
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Also, Titterton Jeffrey J sold 30,000 shares, netting a total of over 2,257,539 in proceeds. Following the sale of shares at $75.25 each, the insider now holds 0 shares.
Before that, Gennaro Norman had sold 7,000 shares from its account. In a trade valued at $525,000, the President of Sales traded Zendesk Inc. shares for $75.00 each. Upon closing the transaction, the insider’s holdings decreased to 7,000 shares, worth approximately $2.18 million.
As published in a research note from William Blair on July 26, 2022, Zendesk Inc. [ZEN] has been rated down from an Outperform to a Mkt perform. Analysts at Stifel downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late July. As of July 26, 2022, JMP Securities has decreased its “Mkt outperform” rating to a “Mkt perform” for ZEN. Earlier on June 13, 2022, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for ZEN stock which previously was a “an Overweight”.
Analyzing ZEN’s Price Performance
On Thursday, Zendesk Inc. [NYSE: ZEN] rose 0.70% to $76.08. The stock’s lowest price that day was $75.50, but it reached a high of $76.09 in the same session. During the last five days, there has been a surge of approximately 1.29%. Over the course of the year, Zendesk Inc. shares have dropped approximately -27.05%. 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 $75.06, while a 200-day SMA reached $100.54. Nevertheless, trading volume fell to 2.17 million shares from 2.06 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 75.69, which, if violated, would cause prices to drop to 75.30. In the upper region, resistance lies at 76.28. The next price resistance is at 76.48. RSI (Relative Strength Index) is 53.93 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.43, which suggests the price will decrease in the coming days. Percent R is at 0.57%, indicating bullish price movement. Stochastics %K at selling 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 Jul 14, 2022 jumping by 3.59 million shares to 11.94 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 8.35 million shares. A jump of 30.07% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.79 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.79.
Which companies own the most shares of Zendesk Inc. (ZEN)?
According to The Vanguard Group, Inc. filings, the company currently owns 11,171,289 shares, which is about 9.12% of the total ZEN shares outstanding. The investor’s shares have plunged by -29,959 from its previous 13-F filing of 11201248.0 shares. With the completion of the buy transaction, Janus Henderson Investors US LLC’s stake is now worth $552,173,777. Capital Research & Management Co reduced a -41.13% interest valued at $491.03 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 $211.43 million.
In terms of Zendesk Inc. share price expectations, FactSet research, analysts set an average price target of $87.17 in the next 12 months, up nearly 2.58% from the previous closing price of $75.55. Analysts anticipate Zendesk Inc. stock to reach $193.00 by 2022, with the lowest price target being $77.50. In spite of this, 14 analysts ranked Zendesk Inc. stock as a Hold at the end of 2022.