Shearlink Capital buys $22.6 Million stake in Zendesk Inc (ZEN)

Zendesk Inc (ZEN) : Shearlink Capital scooped up 399,664 additional shares in Zendesk Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 961,074 shares of Zendesk Inc which is valued at $22.6 Million.Zendesk Inc makes up approximately 8.81% of Shearlink Capital’s portfolio.

Other Hedge Funds, Including , Verition Fund Management sold out all of its stake in ZEN during the most recent quarter. The investment firm sold 22,203 shares of ZEN which is valued $521,104. Td Asset Management Inc added ZEN to its portfolio by purchasing 161,200 company shares during the most recent quarter which is valued at $3.8 Million. Zendesk Inc makes up approx 0.01% of Td Asset Management Inc’s portfolio.State Board Of Administration Of Florida Retirement System reduced its stake in ZEN by selling 3,628 shares or 11.45% in the most recent quarter. The Hedge Fund company now holds 28,068 shares of ZEN which is valued at $657,914.

Zendesk Inc closed down -0.5 points or -2.03% at $24.19 with 10,05,960 shares getting traded on Wednesday. Post opening the session at $24.78, the shares hit an intraday low of $23.72 and an intraday high of $24.89 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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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