Fisher Asset Management LLC Raises Stake in Zscaler, Inc. (NASDAQ:ZS)

Fisher Asset Management LLC lifted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 22.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 23,733 shares of the company’s stock after purchasing an additional 4,282 shares during the quarter. Fisher Asset Management LLC’s holdings in Zscaler were worth $4,057,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ZS. Advisors Asset Management Inc. grew its holdings in shares of Zscaler by 59.8% during the 1st quarter. Advisors Asset Management Inc. now owns 2,229 shares of the company’s stock worth $429,000 after purchasing an additional 834 shares during the period. Janus Henderson Group PLC boosted its holdings in Zscaler by 11.8% in the 1st quarter. Janus Henderson Group PLC now owns 9,121 shares of the company’s stock worth $1,757,000 after acquiring an additional 963 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in Zscaler by 3.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,761 shares of the company’s stock worth $724,000 after acquiring an additional 111 shares during the period. Tidal Investments LLC boosted its holdings in Zscaler by 7.4% in the 1st quarter. Tidal Investments LLC now owns 4,938 shares of the company’s stock worth $951,000 after acquiring an additional 341 shares during the period. Finally, Virtu Financial LLC purchased a new position in Zscaler in the 1st quarter worth approximately $462,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Transactions at Zscaler

In other news, insider Robert Schlossman sold 1,435 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the transaction, the insider now owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the transaction, the director now directly owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,502 shares of company stock valued at $5,256,651. 19.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a report on Monday, November 18th. Susquehanna restated a “positive” rating and issued a $210.00 price target on shares of Zscaler in a report on Thursday, September 5th. Piper Sandler decreased their price target on Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, September 4th. Rosenblatt Securities restated a “neutral” rating and issued a $190.00 price target on shares of Zscaler in a report on Wednesday, September 4th. Finally, KeyCorp upped their price target on Zscaler from $220.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Ten research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $220.48.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $204.96 on Friday. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61. The business’s fifty day moving average price is $188.79 and its two-hundred day moving average price is $184.36. The firm has a market capitalization of $31.45 billion, a PE ratio of -512.39 and a beta of 0.82.

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

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.