Cadian Capital Management LP Has Lifted Zendesk INC (ZEN) Holding by $39.78 Million; Stock Value Declined

Zendesk, Inc. (NYSE:ZEN) Logo

Cadian Capital Management Lp increased its stake in Zendesk Inc (ZEN) by 79.63% based on its latest 2019Q2 regulatory filing with the SEC. Cadian Capital Management Lp bought 1.37M shares as the company’s stock declined 1.43% . The hedge fund held 3.09 million shares of the technology company at the end of 2019Q2, valued at $90.07 million, up from 1.72 million at the end of the previous reported quarter. Cadian Capital Management Lp who had been investing in Zendesk Inc for a number of months, seems to be bullish on the $7.98B market cap company. The stock increased 2.45% or $1.72 during the last trading session, reaching $71.88. About 2.03M shares traded or 12.40% up from the average. Zendesk, Inc. (NYSE:ZEN) has risen 50.45% since October 12, 2018 and is uptrending. It has outperformed by 50.45% the S&P500.

Cadian Capital Management Lp, which manages about $5.56 billion and $2.14B US Long portfolio, decreased its stake in Etsy Inc by 2.97M shares to 1.51M shares, valued at $25.41M in 2019Q2, according to the filing. It also reduced its holding in Varonis Sys Inc (NASDAQ:VRNS) by 269,335 shares in the quarter, leaving it with 2.13 million shares, and cut its stake in T Mobile Us Inc (NYSE:TMUS).

More notable recent Zendesk, Inc. (NYSE:ZEN) news were published by: Seekingalpha.com which released: “Zendesk bull says buy on pullback – Seeking Alpha” on September 03, 2019, also Seekingalpha.com with their article: “Zendesk: Valuation Looks Attractive After Post-Earnings Drop – Seeking Alpha” published on September 06, 2019, Fool.com published: “Better Buy: Shopify vs. Zendesk – Motley Fool” on October 12, 2019. More interesting news about Zendesk, Inc. (NYSE:ZEN) were released by: Finance.Yahoo.com and their article: “What Is Zendesk, Inc.’s (NYSE:ZEN) Share Price Doing? – Yahoo Finance” published on August 19, 2019 as well as Finance.Yahoo.com‘s news article titled: “Here is What Hedge Funds Think About Alleghany Corporation (Y) – Yahoo Finance” with publication date: October 12, 2019.

Zendesk, Inc. (NYSE:ZEN) Ratings Coverage

Among 2 analysts covering Zendesk (NYSE:ZEN), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Zendesk has $10600 highest and $8200 lowest target. $96’s average target is 33.56% above currents $71.88 stock price. Zendesk had 5 analyst reports since May 1, 2019 according to SRatingsIntel. The stock has “Outperform” rating by RBC Capital Markets on Tuesday, September 3.

Zendesk, Inc. (NYSE:ZEN) Ratings Chart

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