Rhumbline Advisers Buys 629 Shares of Zscaler, Inc. (NASDAQ:ZS)

Rhumbline Advisers raised its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 0.5% in the 4th quarter, Holdings Channel reports. The firm owned 128,579 shares of the company’s stock after acquiring an additional 629 shares during the period. Rhumbline Advisers’ holdings in Zscaler were worth $23,197,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Asset Management One Co. Ltd. raised its position in Zscaler by 0.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 77,298 shares of the company’s stock worth $14,266,000 after purchasing an additional 432 shares during the period. Van ECK Associates Corp raised its position in Zscaler by 92.7% in the 4th quarter. Van ECK Associates Corp now owns 29,051 shares of the company’s stock worth $5,241,000 after purchasing an additional 13,978 shares during the period. Weatherly Asset Management L. P. raised its position in Zscaler by 35.1% in the 4th quarter. Weatherly Asset Management L. P. now owns 12,740 shares of the company’s stock worth $2,298,000 after purchasing an additional 3,310 shares during the period. Stonebridge Financial Group LLC purchased a new stake in Zscaler in the 4th quarter worth about $29,000. Finally, Essex Financial Services Inc. raised its position in Zscaler by 16.2% in the 4th quarter. Essex Financial Services Inc. now owns 2,038 shares of the company’s stock worth $368,000 after purchasing an additional 284 shares during the period. Institutional investors own 46.45% of the company’s stock.

Insider Transactions at Zscaler

In related news, insider Syam Nair sold 3,682 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $737,578.24. Following the transaction, the insider now owns 142,866 shares in the company, valued at approximately $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Remo Canessa sold 3,703 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the transaction, the chief financial officer now owns 220,635 shares in the company, valued at $44,197,603.20. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,248 shares of company stock valued at $2,052,879 over the last three months. 18.10% of the stock is owned by corporate insiders.

Zscaler Stock Down 3.6 %

Shares of ZS opened at $206.97 on Friday. The firm has a 50-day moving average price of $195.38 and a 200 day moving average price of $190.31. The firm has a market capitalization of $31.76 billion, a PE ratio of -827.88 and a beta of 0.89. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $251.55.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The company had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. During the same period in the prior year, the company earned ($0.18) EPS. Zscaler’s revenue was up 26.4% on a year-over-year basis. On average, equities analysts expect that Zscaler, Inc. will post -0.1 EPS for the current year.

Wall Street Analysts Forecast Growth

ZS has been the topic of a number of research reports. Wells Fargo & Company raised their target price on shares of Zscaler from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. KeyCorp raised their target price on shares of Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 target price on shares of Zscaler in a research report on Tuesday, December 3rd. Scotiabank increased their price objective on shares of Zscaler from $205.00 to $225.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Finally, Piper Sandler increased their price objective on shares of Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $225.63.

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.