Cadian Capital Management LP Stake in Zendesk INC (ZEN) Boosted by $39.78 Million as 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 $90.07M, 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 Radware Ltd (NASDAQ:RDWR) by 193,159 shares to 4.11 million shares, valued at $69.24M in 2019Q2, according to the filing. It also reduced its holding in Talend S A by 247,264 shares in the quarter, leaving it with 734,129 shares, and cut its stake in Alphabet Inc.

More notable recent Zendesk, Inc. (NYSE:ZEN) news were published by: Finance.Yahoo.com which released: “Is Zendesk Inc (ZEN) A Good Stock To Buy ? – Yahoo Finance” on October 12, 2019, also Seekingalpha.com with their article: “Zendesk: Valuation Looks Attractive After Post-Earnings Drop – Seeking Alpha” published on September 06, 2019, Seekingalpha.com published: “Zendesk And Freshworks Follow Different Acquisition Strategies – Seeking Alpha” on February 11, 2019. More interesting news about Zendesk, Inc. (NYSE:ZEN) were released by: Finance.Yahoo.com and their article: “Did Hedge Funds Drop The Ball On Teledyne Technologies Incorporated (TDY) ? – Yahoo Finance” published on October 12, 2019 as well as Fool.com‘s news article titled: “Why Zendesk Stock Gained 17% in February – The Motley Fool” with publication date: March 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. RBC Capital Markets reinitiated it with “Outperform” rating and $10600 target in Tuesday, September 3 report.

Zendesk, Inc. (NYSE:ZEN) Ratings Chart

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