Sanctuary Advisors LLC Acquires 556 Shares of Zscaler, Inc. (NASDAQ:ZS)

Sanctuary Advisors LLC lifted its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 5.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,663 shares of the company’s stock after purchasing an additional 556 shares during the quarter. Sanctuary Advisors LLC’s holdings in Zscaler were worth $2,104,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Global X Japan Co. Ltd. increased its position in shares of Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of Zscaler during the 4th quarter worth about $29,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Zscaler during the 3rd quarter worth about $31,000. True Wealth Design LLC increased its position in shares of Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after purchasing an additional 185 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Zscaler by 136.8% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after purchasing an additional 104 shares in the last quarter. 46.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and set a $240.00 target price (down previously from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. Piper Sandler increased their target price on shares of Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Morgan Stanley lowered their price objective on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 3rd. Scotiabank raised their price objective on shares of Zscaler from $205.00 to $225.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company raised their price objective on shares of Zscaler from $180.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. Eleven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $226.56.

Insider Buying and Selling at Zscaler

In related news, CFO Remo Canessa sold 3,703 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the transaction, the chief financial officer now directly owns 220,635 shares in the company, valued at approximately $44,197,603.20. The trade was a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $737,578.24. Following the transaction, the insider now owns 142,866 shares in the company, valued at approximately $28,618,917.12. The trade was a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,248 shares of company stock valued at $2,052,879. 18.10% of the stock is currently owned by corporate insiders.

Zscaler Price Performance

Zscaler stock opened at $198.56 on Monday. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $251.55. The company’s 50 day simple moving average is $195.38 and its 200 day simple moving average is $190.89. The firm has a market capitalization of $30.47 billion, a price-to-earnings ratio of -794.24 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last announced 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 firm had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. The business’s revenue was up 26.4% on a year-over-year basis. As a group, analysts predict that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

About Zscaler

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.