Handelsbanken Fonder AB Purchases 7,728 Shares of Zscaler, Inc. (NASDAQ:ZS)

Handelsbanken Fonder AB boosted its stake in Zscaler, Inc. (NASDAQ:ZS) by 34.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,843 shares of the company’s stock after acquiring an additional 7,728 shares during the period. Handelsbanken Fonder AB’s holdings in Zscaler were worth $6,612,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ZS. BluePath Capital Management LLC bought a new stake in Zscaler in the third quarter valued at approximately $32,000. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Zscaler by 109.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 209 shares of the company’s stock valued at $46,000 after buying an additional 109 shares during the period. Lindbrook Capital LLC lifted its stake in Zscaler by 41.1% in the fourth quarter. Lindbrook Capital LLC now owns 237 shares of the company’s stock valued at $53,000 after buying an additional 69 shares during the period. Allworth Financial LP lifted its stake in Zscaler by 175.4% in the fourth quarter. Allworth Financial LP now owns 380 shares of the company’s stock valued at $84,000 after buying an additional 242 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its stake in Zscaler by 231.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 544 shares of the company’s stock valued at $85,000 after buying an additional 380 shares during the period. 46.45% of the stock is currently owned by institutional investors.

Zscaler Stock Performance

Shares of ZS opened at $174.81 on Friday. The stock’s 50-day simple moving average is $200.02 and its 200 day simple moving average is $203.19. The stock has a market capitalization of $26.20 billion, a price-to-earnings ratio of -184.01 and a beta of 0.80. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.98 and a current ratio of 1.98. Zscaler, Inc. has a 52-week low of $84.93 and a 52-week high of $259.61.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.08. The firm had revenue of $525.00 million for the quarter, compared to analysts’ expectations of $507.56 million. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. Research analysts forecast that Zscaler, Inc. will post -0.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $408,512.25. Following the transaction, the chief executive officer now directly owns 367,152 shares in the company, valued at approximately $70,915,408.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Karen Blasing sold 7,000 shares of Zscaler stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $236.24, for a total value of $1,653,680.00. Following the sale, the director now directly owns 39,539 shares in the company, valued at approximately $9,340,693.36. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of Zscaler stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the completion of the sale, the chief executive officer now owns 367,152 shares in the company, valued at $70,915,408.80. The disclosure for this sale can be found here. Insiders have sold a total of 26,715 shares of company stock worth $5,865,882 in the last ninety days. 19.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. The Goldman Sachs Group boosted their price target on Zscaler from $189.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Barclays dropped their price target on Zscaler from $259.00 to $240.00 and set an “overweight” rating on the stock in a research note on Friday, March 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $230.00 price target on shares of Zscaler in a research note on Wednesday, April 17th. KeyCorp raised Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 target price on the stock in a research report on Thursday, April 18th. Finally, Citigroup upped their target price on Zscaler from $235.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Five analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and an average price target of $230.24.

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.