Dimensional Fund Advisors LP Grows Position in Zscaler, Inc. (NASDAQ:ZS)

Dimensional Fund Advisors LP boosted its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 13.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 160,828 shares of the company’s stock after purchasing an additional 18,758 shares during the period. Dimensional Fund Advisors LP’s holdings in Zscaler were worth $30,908,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sierra Summit Advisors LLC purchased a new position in Zscaler during the fourth quarter worth about $5,609,000. State Board of Administration of Florida Retirement System lifted its holdings in Zscaler by 6.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company’s stock valued at $20,021,000 after acquiring an additional 6,683 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Zscaler by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock worth $22,478,000 after purchasing an additional 9,689 shares in the last quarter. Wealthcare Advisory Partners LLC grew its stake in shares of Zscaler by 40.0% during the 1st 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. Finally, Norden Group LLC purchased a new position in shares of Zscaler in the 1st quarter valued at about $846,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Trading Down 2.3 %

NASDAQ:ZS opened at $166.99 on Wednesday. The firm’s fifty day simple moving average is $178.09 and its 200 day simple moving average is $181.46. Zscaler, Inc. has a twelve month low of $149.63 and a twelve month high of $259.61. The firm has a market capitalization of $25.24 billion, a price-to-earnings ratio of -327.43 and a beta of 0.82.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. UBS Group lowered their target price on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Susquehanna reissued a “positive” rating and issued a $210.00 target price on shares of Zscaler in a report on Thursday, September 5th. Needham & Company LLC cut their price target on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating for the company in a research note on Wednesday, September 4th. 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 note on Wednesday, September 4th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $190.00 target price on shares of Zscaler in a research report on Wednesday, September 4th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Zscaler presently has an average rating of “Moderate Buy” and an average target price of $218.39.

Insider Activity

In other 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 completion of the sale, the chief financial officer now directly owns 231,793 shares in the company, valued at $39,701,505.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $170.22, for a total value of $842,078.34. Following the completion of the transaction, the insider now directly owns 107,241 shares in the company, valued at $18,254,563.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Remo Canessa sold 8,455 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 231,793 shares in the company, valued at approximately $39,701,505.04. The disclosure for this sale can be found here. Insiders have sold 29,067 shares of company stock worth $4,995,912 over the last 90 days. Company insiders own 19.20% of the company’s stock.

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.