Forsta AP Fonden Acquires 2,000 Shares of Zscaler, Inc. (NASDAQ:ZS)

Forsta AP Fonden lifted its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 4.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,600 shares of the company’s stock after buying an additional 2,000 shares during the period. Forsta AP Fonden’s holdings in Zscaler were worth $7,624,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ZS. State Board of Administration of Florida Retirement System raised its position in Zscaler by 6.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company’s stock worth $20,021,000 after acquiring an additional 6,683 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Zscaler by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock valued at $22,478,000 after purchasing an additional 9,689 shares during the last quarter. Wealthcare Advisory Partners LLC grew its holdings in Zscaler by 40.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 2,438 shares of the company’s stock worth $470,000 after purchasing an additional 696 shares during the period. Norden Group LLC bought a new position in Zscaler during the first quarter worth about $846,000. Finally, Central Pacific Bank Trust Division acquired a new position in Zscaler during the first quarter worth approximately $809,000. Institutional investors own 46.45% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ZS. Oppenheimer reduced their target price on Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Barclays reduced their price objective on shares of Zscaler from $230.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. JMP Securities reiterated a “market outperform” rating and issued a $270.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. JPMorgan Chase & Co. cut their target price on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, September 4th. Finally, Needham & Company LLC decreased their price target on shares of Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, September 4th. Ten investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $216.73.

Zscaler Stock Up 0.6 %

NASDAQ:ZS opened at $184.96 on Monday. Zscaler, Inc. has a twelve month low of $152.60 and a twelve month high of $259.61. The stock’s 50-day simple moving average is $180.90 and its 200 day simple moving average is $180.68. The firm has a market capitalization of $27.96 billion, a PE ratio of -362.67 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The company had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period last year, the company posted ($0.17) EPS. On average, analysts anticipate that Zscaler, Inc. will post -0.95 EPS for the current fiscal year.

Insider Activity at Zscaler

In other news, CFO Remo Canessa sold 8,455 shares of the business’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 directly owns 231,793 shares in the company, valued at approximately $39,701,505.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Zscaler news, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the transaction, the insider now directly owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Remo Canessa sold 8,455 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the completion of the sale, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock valued at $5,256,651 in the last 90 days. 19.20% of the stock is owned by corporate insiders.

Zscaler 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.