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 $535,850 were sold by Gennaro Norman on Sep 16. At $76.55 per share, Gennaro Norman sold 7,000 shares. The insider’s holdings dropped to 26,519 shares worth approximately $2.02 million following the completion of this transaction.
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Also, Titterton Jeffrey J sold 20,000 shares, netting a total of over 1,535,000 in proceeds. Following the sale of shares at $76.75 each, the insider now holds 687 shares.
Before that, McDermott Adrian had sold 813 shares from its account. In a trade valued at $62,138, the Chief Technology Officer traded Zendesk Inc. shares for $76.43 each. Upon closing the transaction, the insider’s holdings decreased to 813 shares, worth approximately $7.21 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] plunged -0.21% to $76.36. The stock’s lowest price that day was $76.31, but it reached a high of $76.59 in the same session. During the last five days, there has been a drop of approximately -0.30%. Over the course of the year, Zendesk Inc. shares have dropped approximately -26.78%. 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 $76.09, while a 200-day SMA reached $95.47. Nevertheless, trading volume fell to 3.95 million shares from 2.27 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 76.25, which, if violated, would cause prices to drop to 76.14. In the upper region, resistance lies at 76.53. The next price resistance is at 76.70. RSI (Relative Strength Index) is 46.88 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.16, which suggests the price will decrease in the coming days. Percent R is at 92.96%, 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 steep in short interest on Aug 30, 2022 dropping by -3.87 million shares to 9.37 million. Data from Yahoo Finance shows that the short interest on Jul 28, 2022 was 13.24 million shares. A decline of -41.3% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.2 of the overall float, the days-to-cover ratio (short ratio) decline to 4.2.
Which companies own the most shares of Zendesk Inc. (ZEN)?
According to The Vanguard Group, Inc. filings, the company currently owns 11,143,653 shares, which is about 9.03% of the total ZEN shares outstanding. The investor’s shares have plunged by -27,636 from its previous 13-F filing of 11171289.0 shares. With the completion of the sale transaction, Janus Henderson Investors US LLC’s stake is now worth $512,906,128. BlackRock Fund Advisors acquire a 5.81% interest valued at $422.13 million while Meritage Group LP purchased a 794,280 stake. A total of 2,753,705 shares of Zendesk Inc. were bought by FIL Investment Advisors during the quarter, and 1,355,010 were bought by Light Street Capital Management L. In its current portfolio, Pictet Asset Management SA holds 2,697,360 shares valued at $207.08 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 1.28% from the previous closing price of $76.52. 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.