Garelick Capital Partners Lp buys $6.1 Million stake in Zendesk Inc (ZEN)

Zendesk Inc (ZEN) : Garelick Capital Partners Lp scooped up 137,677 additional shares in Zendesk Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 260,780 shares of Zendesk Inc which is valued at $6.1 Million.Zendesk Inc makes up approximately 4.96% of Garelick Capital Partners Lp’s portfolio.

Other Hedge Funds, Including , Palisade Capital Managementnj sold out all of its stake in ZEN during the most recent quarter. The investment firm sold 250,247 shares of ZEN which is valued $5.9 Million.Blackrock Fund Advisors reduced its stake in ZEN by selling 21,124 shares or 1.42% in the most recent quarter. The Hedge Fund company now holds 1,468,497 shares of ZEN which is valued at $34.5 Million. Zendesk Inc makes up approx 0.01% of Blackrock Fund Advisors’s portfolio.Nationwide Fund Advisors reduced its stake in ZEN by selling 668 shares or 1.88% in the most recent quarter. The Hedge Fund company now holds 34,856 shares of ZEN which is valued at $817,025.Columbus Circle Investors boosted its stake in ZEN in the latest quarter, The investment management firm added 272,143 additional shares and now holds a total of 1,275,062 shares of Zendesk Inc which is valued at $29.9 Million. Zendesk Inc makes up approx 0.27% of Columbus Circle Investors’s portfolio.

Zendesk Inc closed down -0.13 points or -0.55% at $23.34 with 10,17,084 shares getting traded on Monday. Post opening the session at $23.37, the shares hit an intraday low of $23.245 and an intraday high of $23.69 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Zendesk Inc reported $-0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 3, 2016. Analyst had a consensus of $-0.10. The company had revenue of $68.46 million for the quarter, compared to analysts expectations of $66.12 million. The company’s revenue was up 62.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.10 EPS.

Many Wall Street Analysts have commented on Zendesk Inc. Shares were Reiterated by Rosenblatt on Feb 17, 2016 to “Buy” and Lowered the Price Target to $ 25 from a previous price target of $28 .

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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