Essex Investment Management Co. LLC Makes New $1.09 Million Investment in Zscaler, Inc. (NASDAQ:ZS)

Essex Investment Management Co. LLC acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZSFree Report) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 7,000 shares of the company’s stock, valued at approximately $1,089,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in Zscaler in the third quarter valued at about $174,000. Linden Thomas Advisory Services LLC purchased a new stake in shares of Zscaler in the third quarter valued at approximately $904,000. California Public Employees Retirement System boosted its stake in shares of Zscaler by 3.5% in the third quarter. California Public Employees Retirement System now owns 129,434 shares of the company’s stock valued at $20,139,000 after buying an additional 4,334 shares in the last quarter. United Capital Management of KS Inc. grew its holdings in Zscaler by 2.5% during the third quarter. United Capital Management of KS Inc. now owns 24,068 shares of the company’s stock worth $3,745,000 after acquiring an additional 589 shares during the period. Finally, Schroder Investment Management Group raised its position in Zscaler by 27.4% in the second quarter. Schroder Investment Management Group now owns 223,433 shares of the company’s stock worth $32,688,000 after acquiring an additional 48,002 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $254.93 on Monday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.96 and a quick ratio of 1.96. Zscaler, Inc. has a one year low of $84.93 and a one year high of $259.61. The business’s 50-day moving average price is $225.00 and its two-hundred day moving average price is $183.88. The company has a market capitalization of $37.81 billion, a P/E ratio of -219.77 and a beta of 0.86.

Zscaler (NASDAQ:ZSGet Free Report) last released its quarterly earnings results on Monday, November 27th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.18. The business had revenue of $496.70 million for the quarter, compared to the consensus estimate of $473.36 million. Zscaler had a negative net margin of 9.54% and a negative return on equity of 21.39%. Zscaler’s revenue for the quarter was up 39.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.47) EPS. Analysts anticipate that Zscaler, Inc. will post -0.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Zscaler

In related news, Director Amit Sinha sold 3,680 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $183.94, for a total value of $676,899.20. Following the transaction, the director now directly owns 36,800 shares in the company, valued at approximately $6,768,992. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Zscaler news, Director Amit Sinha sold 3,680 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $183.94, for a total value of $676,899.20. Following the sale, the director now owns 36,800 shares of the company’s stock, valued at approximately $6,768,992. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karen Blasing sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $191.20, for a total value of $1,338,400.00. Following the transaction, the director now owns 19,398 shares of the company’s stock, valued at $3,708,897.60. The disclosure for this sale can be found here. Insiders have sold a total of 150,332 shares of company stock worth $31,166,722 over the last 90 days. Insiders own 19.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Evercore ISI lifted their price target on shares of Zscaler from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Tuesday, November 28th. TheStreet upgraded Zscaler from a “d+” rating to a “c-” rating in a research report on Monday, November 20th. Cantor Fitzgerald reissued a “neutral” rating and issued a $185.00 target price on shares of Zscaler in a report on Wednesday, January 31st. Sanford C. Bernstein assumed coverage on Zscaler in a research note on Thursday, January 18th. They set an “outperform” rating and a $311.00 price target for the company. Finally, JMP Securities increased their price objective on shares of Zscaler from $225.00 to $270.00 and gave the company a “market outperform” rating in a research note on Wednesday, January 31st. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.51.

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Zscaler Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Zscaler (NASDAQ:ZS)

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