131,573 Shares in Zscaler, Inc. (NASDAQ:ZS) Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA acquired a new position in Zscaler, Inc. (NASDAQ:ZS) in the 2nd quarter, HoldingsChannel reports. The firm acquired 131,573 shares of the company’s stock, valued at approximately $25,287,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ZS. Dimensional Fund Advisors LP raised its stake in shares of Zscaler by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 145,455 shares of the company’s stock worth $32,230,000 after purchasing an additional 4,257 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Zscaler by 1.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,665 shares of the company’s stock worth $1,255,000 after purchasing an additional 70 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Zscaler by 66.7% in the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after purchasing an additional 70 shares during the last quarter. Norges Bank purchased a new stake in shares of Zscaler in the fourth quarter worth approximately $117,599,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Zscaler by 3.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,398 shares of the company’s stock worth $1,639,000 after purchasing an additional 251 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the sale, the chief executive officer now owns 361,432 shares in the company, valued at $61,906,072.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Zscaler news, CFO Remo Canessa sold 8,455 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the sale, the chief financial officer now owns 231,793 shares in the company, valued at $39,701,505.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the sale, the chief executive officer now owns 361,432 shares in the company, valued at approximately $61,906,072.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,120 shares of company stock worth $2,761,034. Corporate insiders own 19.20% of the company’s stock.

Zscaler Stock Performance

Shares of ZS stock opened at $172.71 on Friday. Zscaler, Inc. has a 52-week low of $146.59 and a 52-week high of $259.61. The company has a market capitalization of $26.34 billion, a PE ratio of -338.65 and a beta of 0.82. The business’s fifty day moving average is $181.87 and its 200 day moving average is $183.42.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. During the same quarter last year, the business posted ($0.17) earnings per share. The firm’s revenue was up 30.3% compared to the same quarter last year. On average, sell-side analysts forecast that Zscaler, Inc. will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ZS. Bank of America lowered Zscaler from a “buy” rating to a “neutral” rating and reduced their target price for the company from $265.00 to $195.00 in a report on Wednesday, September 4th. Mizuho lowered Zscaler from an “outperform” rating to a “neutral” rating and set a $220.00 target price for the company. in a report on Tuesday, July 16th. Loop Capital reduced their target price on Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Raymond James began coverage on Zscaler in a report on Tuesday, July 23rd. They issued a “market perform” rating for the company. Finally, Sanford C. Bernstein reduced their target price on Zscaler from $280.00 to $270.00 and set an “outperform” rating for the company in a report on Friday, May 31st. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and a consensus price target of $218.39.

Zscaler Company Profile

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.