Townsquare Capital LLC Grows Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Townsquare Capital LLC boosted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 236.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,983 shares of the company’s stock after buying an additional 3,501 shares during the quarter. Townsquare Capital LLC’s holdings in Zscaler were worth $852,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Champlain Investment Partners LLC boosted its holdings in Zscaler by 28.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after acquiring an additional 283,540 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Zscaler by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after purchasing an additional 25,181 shares during the period. Westfield Capital Management Co. LP grew its holdings in shares of Zscaler by 33.8% in the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after purchasing an additional 100,814 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Zscaler by 18.3% in the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock worth $75,857,000 after purchasing an additional 61,037 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Zscaler by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock worth $60,696,000 after buying an additional 16,634 shares during the period. Institutional investors own 46.45% of the company’s stock.

Wall Street Analysts Forecast Growth

ZS has been the subject of several research reports. Bank of America cut shares of Zscaler from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $265.00 to $195.00 in a research report on Wednesday, September 4th. Wedbush dropped their target price on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Susquehanna reiterated a “positive” rating and issued a $210.00 target price on shares of Zscaler in a report on Thursday, September 5th. Jefferies Financial Group raised their price target on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a research note on Monday, November 18th. Ten investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $221.13.

Zscaler Stock Up 0.9 %

ZS opened at $208.51 on Tuesday. The company has a market cap of $31.99 billion, a PE ratio of -521.26 and a beta of 0.82. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $259.61. The company has a 50-day moving average price of $190.12 and a 200 day moving average price of $184.80.

Zscaler (NASDAQ:ZS) last announced its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The business had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. As a group, sell-side analysts expect that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Insider Buying and Selling at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. This trade represents a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael J. Rich sold 4,813 shares of Zscaler stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $824,370.64. Following the transaction, the insider now owns 103,259 shares in the company, valued at approximately $17,686,201.52. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,502 shares of company stock worth $5,256,651. Corporate insiders own 18.10% of the company’s stock.

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.