Seven Eight Capital LP Raises Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Seven Eight Capital LP lifted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 72.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,062 shares of the company’s stock after acquiring an additional 2,539 shares during the quarter. Seven Eight Capital LP’s holdings in Zscaler were worth $1,165,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Securities Inc. purchased a new stake in shares of Zscaler in the 4th quarter worth about $82,000. Dimensional Fund Advisors LP lifted its holdings in shares of Zscaler by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 145,455 shares of the company’s stock valued at $32,230,000 after purchasing an additional 4,257 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Zscaler by 1.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,665 shares of the company’s stock valued at $1,255,000 after purchasing an additional 70 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Zscaler by 66.7% during the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after purchasing an additional 70 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Zscaler during the 4th quarter worth approximately $117,599,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Stock Performance

NASDAQ:ZS opened at $172.58 on Friday. Zscaler, Inc. has a one year low of $146.59 and a one year high of $259.61. The business’s 50-day simple moving average is $182.33 and its 200 day simple moving average is $183.49. The stock has a market cap of $26.32 billion, a price-to-earnings ratio of -338.39 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last released its earnings results on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. The company had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business’s revenue was up 30.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.17) EPS. On average, equities research analysts predict that Zscaler, Inc. will post -0.92 EPS for the current year.

Insider Transactions at Zscaler

In other news, CFO Remo Canessa sold 8,455 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the transaction, the chief financial officer now owns 231,793 shares of the company’s stock, valued at $39,701,505.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the sale, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at $61,906,072.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Remo Canessa sold 8,455 shares of Zscaler stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the completion of the transaction, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at $39,701,505.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,120 shares of company stock valued at $2,761,034. Insiders own 19.20% of the company’s stock.

Analyst Upgrades and Downgrades

ZS has been the topic of a number of analyst reports. Oppenheimer lowered their target price on Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Cantor Fitzgerald dropped their price objective on Zscaler from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Bank of America lowered shares of Zscaler from a “buy” rating to a “neutral” rating and reduced their target price for the company from $265.00 to $195.00 in a report on Wednesday, September 4th. Barclays lowered their price target on shares of Zscaler from $230.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, September 4th. Finally, Canaccord Genuity Group reduced their price objective on shares of Zscaler from $260.00 to $220.00 and set a “buy” rating on the stock in a research note on Tuesday, June 4th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $218.39.

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.