Cupps Capital Management buys $6,360,704 stake in Zendesk Inc (ZEN)

Zendesk Inc (ZEN) : Cupps Capital Management scooped up 51,398 additional shares in Zendesk Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 208,753 shares of Zendesk Inc which is valued at $6,360,704.Zendesk Inc makes up approximately 1.52% of Cupps Capital Management’s portfolio.

Other Hedge Funds, Including , Portolan Capital Management reduced its stake in ZEN by selling 19,260 shares or 7.75% in the most recent quarter. The Hedge Fund company now holds 229,170 shares of ZEN which is valued at $6,982,810. Zendesk Inc makes up approx 0.93% of Portolan Capital 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.Matrix Ix Management reduced its stake in ZEN by selling 955,234 shares or 61.45% in the most recent quarter. The Hedge Fund company now holds 599,235 shares of ZEN which is valued at $18,420,484. Zendesk Inc makes up approx 100.00% of Matrix Ix Management’s portfolio.Fortaleza Asset Management Inc reduced its stake in ZEN by selling 2,510 shares or 33.9% in the most recent quarter. The Hedge Fund company now holds 4,895 shares of ZEN which is valued at $147,535. Zendesk Inc makes up approx 0.11% of Fortaleza Asset Management Inc’s portfolio.Botty Investors reduced its stake in ZEN by selling 254 shares or 33.16% in the most recent quarter. The Hedge Fund company now holds 512 shares of ZEN which is valued at $14,418. Zendesk Inc makes up approx 0.01% of Botty Investors’s portfolio.

Zendesk Inc opened for trading at $31.15 and hit $31.33 on the upside on Monday, eventually ending the session at $31.24, with a gain of 0.32% or 0.1 points. The heightened volatility saw the trading volume jump to 5,02,319 shares. Company has a market cap of $2,931 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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