Dorsal Capital Management LLC Cut Its Zendesk INC (ZEN) Holding by $7.25 Million as Share Price Declined

Zendesk, Inc. (NYSE:ZEN) Logo

Dorsal Capital Management Llc decreased its stake in Zendesk Inc (ZEN) by 9.62% based on its latest 2018Q3 regulatory filing with the SEC. Dorsal Capital Management Llc sold 250,000 shares as the company’s stock declined 16.23% with the market. The hedge fund held 2.35 million shares of the technology company at the end of 2018Q3, valued at $68.41 million, down from 2.60M at the end of the previous reported quarter. Dorsal Capital Management Llc who had been investing in Zendesk Inc for a number of months, seems to be less bullish one the $6.61B market cap company. The stock decreased 1.18% or $0.74 during the last trading session, reaching $61.71. About 618,149 shares traded. Zendesk, Inc. (NYSE:ZEN) has risen 72.10% since January 14, 2018 and is uptrending. It has outperformed by 72.10% the S&P500.

Dorsal Capital Management Llc, which manages about $1.15B and $1.92B US Long portfolio, upped its stake in Cbs Corp New (NYSE:CBS) by 150,000 shares to 1.35 million shares, valued at $78.30 million in 2018Q3, according to the filing. It also increased its holding in Altaba Inc by 200,000 shares in the quarter, for a total of 2.20M shares, and has risen its stake in Commscope Hldg Co Inc (NASDAQ:COMM).

Analysts await Zendesk, Inc. (NYSE:ZEN) to report earnings on February, 5. They expect $-0.27 EPS, down 12.50 % or $0.03 from last year’s $-0.24 per share. After $-0.22 actual EPS reported by Zendesk, Inc. for the previous quarter, Wall Street now forecasts 22.73 % negative EPS growth.

More notable recent Zendesk, Inc. (NYSE:ZEN) news were published by: Seekingalpha.com which released: “Zendesk: The Streak Won’t Last Forever – Seeking Alpha” on August 01, 2018, also Investorplace.com with their article: “10 A-Rated Stocks the Smart Money Is Piling Into – Investorplace.com” published on January 11, 2019, Businesswire.com published: “Zendesk Announces Date of Fourth Quarter and Full Fiscal Year 2018 Financial Results – Business Wire” on January 10, 2019. More interesting news about Zendesk, Inc. (NYSE:ZEN) were released by: Seekingalpha.com and their article: “Zendesk: Not The Time To Dive In Yet – Seeking Alpha” published on November 06, 2018 as well as Seekingalpha.com‘s news article titled: “CRM’s Best Alternatives To Buy Today – Seeking Alpha” with publication date: December 17, 2018.

Zendesk, Inc. (NYSE:ZEN) Ratings Coverage

Among 7 analysts covering Zendesk (NYSE:ZEN), 6 have Buy rating, 0 Sell and 1 Hold. Therefore 86% are positive. Zendesk had 11 analyst reports since July 23, 2018 according to SRatingsIntel. Stifel Nicolaus maintained Zendesk, Inc. (NYSE:ZEN) rating on Tuesday, September 11. Stifel Nicolaus has “Hold” rating and $68 target. The rating was maintained by Morgan Stanley with “Overweight” on Tuesday, October 23. The rating was maintained by Stifel Nicolaus on Wednesday, August 1 with “Hold”. The firm earned “Buy” rating on Wednesday, October 31 by Deutsche Bank. The rating was maintained by Morgan Stanley with “Overweight” on Tuesday, September 18. The firm has “Overweight” rating by Morgan Stanley given on Friday, July 27. As per Monday, July 23, the company rating was maintained by Bank of America. The rating was maintained by KeyBanc Capital Markets with “Overweight” on Wednesday, August 1.

Zendesk, Inc. (NYSE:ZEN) Ratings Chart

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