OLD National Bancorp IN Takes Position in Zscaler, Inc. (NASDAQ:ZS)

OLD National Bancorp IN purchased a new stake in shares of Zscaler, Inc. (NASDAQ:ZS) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,501 shares of the company’s stock, valued at approximately $333,000.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Zscaler by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock worth $1,343,810,000 after purchasing an additional 129,090 shares in the last quarter. Northern Trust Corp lifted its holdings in Zscaler by 5.6% during the 3rd quarter. Northern Trust Corp now owns 556,446 shares of the company’s stock worth $86,577,000 after purchasing an additional 29,405 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Zscaler by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 512,094 shares of the company’s stock worth $79,677,000 after purchasing an additional 6,821 shares in the last quarter. Polar Capital Holdings Plc purchased a new stake in Zscaler during the 3rd quarter worth about $61,681,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Zscaler by 10.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 302,326 shares of the company’s stock worth $66,984,000 after purchasing an additional 27,947 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Stock Down 1.5 %

Zscaler stock opened at $174.81 on Friday. The firm has a market cap of $26.20 billion, a price-to-earnings ratio of -184.01 and a beta of 0.80. The stock has a fifty day simple moving average of $200.02 and a two-hundred day simple moving average of $203.19. Zscaler, Inc. has a 12 month low of $84.93 and a 12 month high of $259.61. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.19.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.08. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. The company had revenue of $525.00 million during the quarter, compared to analyst estimates of $507.56 million. Equities analysts predict that Zscaler, Inc. will post -0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

ZS has been the topic of a number of research analyst reports. Macquarie restated an “outperform” rating and issued a $245.00 target price on shares of Zscaler in a research note on Tuesday, March 19th. Citigroup upped their target price on Zscaler from $235.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Needham & Company LLC restated a “strong-buy” rating and issued a $290.00 target price on shares of Zscaler in a research note on Friday, March 1st. BMO Capital Markets decreased their target price on Zscaler from $268.00 to $255.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. Finally, Sanford C. Bernstein decreased their target price on Zscaler from $311.00 to $280.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. Five equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $230.24.

Insider Activity at Zscaler

In related news, Director Karen Blasing sold 7,000 shares of Zscaler stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $250.90, for a total transaction of $1,756,300.00. Following the transaction, the director now directly owns 40,372 shares in the company, valued at $10,129,334.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the transaction, the chief executive officer now directly owns 367,152 shares in the company, valued at $70,915,408.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karen Blasing sold 7,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $250.90, for a total value of $1,756,300.00. Following the completion of the transaction, the director now owns 40,372 shares in the company, valued at $10,129,334.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,715 shares of company stock worth $5,865,882. Corporate insiders own 19.20% of the company’s stock.

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.