Published on 8 Nov 2021 on Insider Monkey via Yahoo Finance

Were Hedge Funds Right About Zendesk Inc (ZEN)?

We at Insider Monkey have gone over 873 13F filings that hedge funds and prominent investors are required to file by the SEC. The 13F filings show the funds' and investors' portfolio positions as of June 30th. In this article, we look at what those funds think of Zendesk Inc (NYSE:ZEN) based on that data.

Zendesk Inc (NYSE:ZEN) investors should be aware of an increase in enthusiasm from smart money lately. Zendesk Inc (NYSE:ZEN) was in 52 hedge funds' portfolios at the end of the second quarter of 2021. The all time high for this statistic is 63. Our calculations also showed that ZEN isn't among the 30 most popular stocks among hedge funds (click for Q2 rankings).

Why do we pay any attention at all to hedge fund sentiment? Our research has shown that a select group of hedge fund holdings outperformed the S&P 500 ETFs by 79 percentage points since March 2017 (see the details here). That's why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to.