First Bancorp. (FBNC) Shareholder Martin & Company Boosted Its Holding by $856,100; Zendesk (ZEN) Holder Whale Rock Capital Management Has Lifted Stake by $11.73 Million

April 23, 2018 - By Dolores Ford

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Martin & Company Inc increased its stake in First Bancorp. (FBNC) by 66.66% based on its latest 2017Q4 regulatory filing with the SEC. Martin & Company Inc bought 24,460 shares as the company’s stock declined 1.88% with the market. The institutional investor held 61,155 shares of the major banks company at the end of 2017Q4, valued at $2.16M, up from 36,695 at the end of the previous reported quarter. Martin & Company Inc who had been investing in First Bancorp. for a number of months, seems to be bullish on the $1.09 billion market cap company. The stock increased 0.44% or $0.16 during the last trading session, reaching $36.82. About 8,705 shares traded. First Bancorp (NASDAQ:FBNC) has risen 23.28% since April 23, 2017 and is uptrending. It has outperformed by 11.73% the S&P500.

Alex Sacerdote increased its stake in Zendesk Inc (ZEN) by 24.52% based on its latest 2017Q4 regulatory filing with the SEC. Whale Rock Capital Management Llc bought 355,577 shares as the company’s stock rose 41.13% while stock markets declined. The hedge fund run by Alex Sacerdote held 1.81 million shares of the technology company at the end of 2017Q4, valued at $61.11M, up from 1.45 million at the end of the previous reported quarter. Whale Rock Capital Management Llc who had been investing in Zendesk Inc for a number of months, seems to be bullish on the $5.08 billion market cap company. The stock increased 0.46% or $0.225 during the last trading session, reaching $48.685. About 634,321 shares traded. Zendesk, Inc. (NYSE:ZEN) has risen 74.58% since April 23, 2017 and is uptrending. It has outperformed by 63.03% the S&P500.

Among 21 analysts covering Zendesk (NYSE:ZEN), 18 have Buy rating, 0 Sell and 3 Hold. Therefore 86% are positive. Zendesk had 57 analyst reports since August 5, 2015 according to SRatingsIntel. Cowen & Co maintained Zendesk, Inc. (NYSE:ZEN) rating on Wednesday, February 7. Cowen & Co has “Buy” rating and $46.0 target. Morgan Stanley maintained Zendesk, Inc. (NYSE:ZEN) on Wednesday, May 4 with “Overweight” rating. As per Thursday, November 2, the company rating was maintained by Wells Fargo. The firm earned “Overweight” rating on Wednesday, June 1 by Piper Jaffray. On Thursday, August 27 the stock rating was initiated by Rosenblatt with “Buy”. The rating was maintained by Goldman Sachs on Tuesday, April 19 with “Buy”. The rating was reinitiated by Summit Redstone Partners on Monday, July 18 with “Buy”. On Wednesday, February 7 the stock rating was maintained by Piper Jaffray with “Buy”. The stock of Zendesk, Inc. (NYSE:ZEN) earned “Buy” rating by Rosenblatt on Wednesday, March 8. The company was maintained on Wednesday, January 17 by RBC Capital Markets.

Whale Rock Capital Management Llc, which manages about $1.16B and $2.16 billion US Long portfolio, decreased its stake in Asml Holding N V (NASDAQ:ASML) by 146,708 shares to 244,287 shares, valued at $42.46 million in 2017Q4, according to the filing. It also reduced its holding in Nvidia Corp (NASDAQ:NVDA) by 255,063 shares in the quarter, leaving it with 266,117 shares, and cut its stake in Lam Research Corp (NASDAQ:LRCX).

Since December 20, 2017, it had 1 insider buy, and 1 insider sale for $15,824 activity. 2,755 shares were bought by MOORE RICHARD H, worth $99,180.

Among 9 analysts covering First Bancorp (NASDAQ:FBNC), 4 have Buy rating, 1 Sell and 4 Hold. Therefore 44% are positive. First Bancorp had 28 analyst reports since August 3, 2015 according to SRatingsIntel. On Tuesday, August 11 the stock rating was upgraded by Zacks to “Sell”. The company was downgraded on Wednesday, September 2 by Zacks. The firm earned “Overweight” rating on Thursday, October 5 by PiperJaffray. Brean Capital maintained the shares of FBNC in report on Tuesday, January 2 with “Buy” rating. Keefe Bruyette & Woods maintained First Bancorp (NASDAQ:FBNC) rating on Monday, January 29. Keefe Bruyette & Woods has “Buy” rating and $43.0 target. The firm has “Market Perform” rating given on Wednesday, May 11 by FIG Partners. As per Monday, August 24, the company rating was upgraded by Zacks. The firm earned “Market Perform” rating on Monday, August 3 by Stifel Nicolaus. The rating was downgraded by Gabelli on Monday, November 14 to “Hold”. The rating was upgraded by Keefe Bruyette & Woods to “Outperform” on Tuesday, August 23.

Investors sentiment increased to 2.71 in Q4 2017. Its up 1.65, from 1.06 in 2017Q3. It improved, as 14 investors sold FBNC shares while 20 reduced holdings. 31 funds opened positions while 61 raised stakes. 17.80 million shares or 8.54% more from 16.40 million shares in 2017Q3 were reported. Raymond James Assoc accumulated 9,630 shares. Amer holds 0% or 18,947 shares. Employees Retirement System Of Texas invested in 0.03% or 65,000 shares. Employees Retirement Association Of Colorado holds 10,050 shares or 0% of its portfolio. First Ltd Partnership accumulated 35,786 shares or 0% of the stock. Stieven Advsrs LP holds 2.1% or 337,879 shares in its portfolio. Envestnet Asset Management holds 2,746 shares or 0% of its portfolio. Bb&T Limited Company accumulated 12,957 shares. Aqr Cap Ltd reported 17,350 shares. Kennedy Cap Management invested in 148,496 shares. Gsa Limited Liability Partnership, a United Kingdom-based fund reported 47,386 shares. Parametric Port Assocs Limited Liability Company invested 0% of its portfolio in First Bancorp (NASDAQ:FBNC). 35,047 were accumulated by Credit Suisse Ag. Trexquant Limited Partnership reported 9,337 shares stake. California-based Schwab Charles Investment Mgmt has invested 0% in First Bancorp (NASDAQ:FBNC).

Martin & Company Inc, which manages about $1.98B and $315.34 million US Long portfolio, decreased its stake in Select Sector Spdr (XLB) by 12,480 shares to 82,250 shares, valued at $4.98M in 2017Q4, according to the filing. It also reduced its holding in International Business Machine (NYSE:IBM) by 2,170 shares in the quarter, leaving it with 9,265 shares, and cut its stake in Exxon Mobil Corp. (NYSE:XOM).

First Bancorp (NASDAQ:FBNC) Institutional Positions Chart

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