Zscaler, Inc. (NASDAQ:ZS) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp raised its position in Zscaler, Inc. (NASDAQ:ZS) by 92.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,051 shares of the company’s stock after buying an additional 13,978 shares during the period. Van ECK Associates Corp’s holdings in Zscaler were worth $5,241,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Champlain Investment Partners LLC lifted its stake in Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after purchasing an additional 283,540 shares in the last quarter. International Assets Investment Management LLC increased its stake in Zscaler by 13,498.6% during the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock worth $48,769,000 after purchasing an additional 283,201 shares during the period. Westfield Capital Management Co. LP lifted its position in shares of Zscaler by 33.8% during the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after purchasing an additional 100,814 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Zscaler by 59.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company’s stock valued at $34,421,000 after purchasing an additional 71,297 shares during the period. Finally, Thematics Asset Management grew its holdings in shares of Zscaler by 88.5% in the third quarter. Thematics Asset Management now owns 147,000 shares of the company’s stock valued at $25,128,000 after purchasing an additional 69,000 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Stock Performance

Zscaler stock opened at $216.87 on Wednesday. The firm’s 50 day moving average price is $195.23 and its two-hundred day moving average price is $190.02. The firm has a market cap of $33.28 billion, a price-to-earnings ratio of -867.48 and a beta of 0.89. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $251.94.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.63 by $0.14. The business had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.18) EPS. As a group, equities analysts predict that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays raised their price target on shares of Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. KeyCorp raised their price target on Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 price objective on shares of Zscaler in a research note on Friday, January 10th. Guggenheim reissued a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 target price on shares of Zscaler in a report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $225.63.

Insider Activity at Zscaler

In other news, insider Syam Nair sold 3,682 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the transaction, the insider now owns 142,866 shares in the company, valued at approximately $28,618,917.12. This represents a 2.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the sale, the chief financial officer now directly owns 220,635 shares in the company, valued at approximately $44,197,603.20. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock worth $2,052,879 over the last three months. Company insiders own 18.10% 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.