Seven Harbour Global Lp buys $12,188,000 stake in Zendesk Inc (ZEN)

Zendesk Inc (ZEN) : Seven Harbour Global Lp scooped up 150,000 additional shares in Zendesk Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 400,000 shares of Zendesk Inc which is valued at $12,188,000.Zendesk Inc makes up approximately 7.10% of Seven Harbour Global Lp’s portfolio.

Other Hedge Funds, Including , Credit Suisse Ag boosted its stake in ZEN in the latest quarter, The investment management firm added 11,825 additional shares and now holds a total of 67,369 shares of Zendesk Inc which is valued at $2,052,733.First Mercantile Trust Co reduced its stake in ZEN by selling 3,165 shares or 18.33% in the most recent quarter. The Hedge Fund company now holds 14,100 shares of ZEN which is valued at $429,627. Zendesk Inc makes up approx 0.05% of First Mercantile Trust Co’s portfolio.Castleark Management boosted its stake in ZEN in the latest quarter, The investment management firm added 12,275 additional shares and now holds a total of 246,180 shares of Zendesk Inc which is valued at $7,501,105. Zendesk Inc makes up approx 0.23% of Castleark Management’s portfolio. Garelick Capital Partners Lp sold out all of its stake in ZEN during the most recent quarter. The investment firm sold 260,780 shares of ZEN which is valued $7,945,967.

Zendesk Inc opened for trading at $31.14 and hit $31.33 on the upside on Tuesday, eventually ending the session at $31.2, with a gain of 1.07% or 0.33 points. The heightened volatility saw the trading volume jump to 6,07,543 shares. Company has a market cap of $2,927 M.

On the company’s financial health, Zendesk Inc reported $-0.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.09. The company had revenue of $74.20 million for the quarter, compared to analysts expectations of $72.34 million. The company’s revenue was up 53.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.08 EPS.

Many Wall Street Analysts have commented on Zendesk Inc. Company shares were Reiterated by RBC Capital Mkts on Jul 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 33 from a previous price target of $27 .Zendesk Inc was Initiated by Stifel to “Hold” on Jul 19, 2016. Piper Jaffray Initiated Zendesk Inc on Jun 1, 2016 to “Overweight”, Price Target of the shares are set at $35.

Zendesk Inc. (Zendesk) is a software development company. The Company provides software as a service (SaaS) customer service platform. The Company answers customers’ questions and solves their problems through email chat voice social media and Websites. Its platform also helps people find answers on their own through knowledge bases and communities. The Company’s platform consolidates the data from customer interactions and provides organizations with analytics and performance benchmarking. The Company through its subsidiary Zopim provides live chat software as a standalone service and as an integrated service with its customer service platform for chat-enabled agents. The Company also offers freemium plans for its customer service platform and live chat software as well as email collaboration software. Its customers are located in 150 countries and territories and provide service through its customer service platform in over 40 languages.

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