GAMMA Investing LLC Grows Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

GAMMA Investing LLC grew its stake in Zscaler, Inc. (NASDAQ:ZS) by 18.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 448 shares of the company’s stock after purchasing an additional 70 shares during the period. GAMMA Investing LLC’s holdings in Zscaler were worth $81,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in ZS. Geode Capital Management LLC grew its stake in shares of Zscaler by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock valued at $277,327,000 after buying an additional 60,414 shares during the period. Champlain Investment Partners LLC increased 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 acquiring an additional 283,540 shares during the last quarter. Westfield Capital Management Co. LP raised its position in Zscaler by 33.8% in the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after purchasing an additional 100,814 shares during the period. Federated Hermes Inc. lifted its stake in shares of Zscaler by 18.3% in the 2nd quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock valued at $75,857,000 after purchasing an additional 61,037 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Zscaler by 11.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after purchasing an additional 37,801 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Trading Up 1.4 %

NASDAQ ZS opened at $189.98 on Friday. The business’s 50 day moving average is $196.86 and its two-hundred day moving average is $188.20. The stock has a market capitalization of $29.15 billion, a price-to-earnings ratio of -759.92 and a beta of 0.87. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $259.61.

Zscaler (NASDAQ:ZS) last issued its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.63 by $0.14. The company had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The business’s revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.18) EPS. Equities analysts forecast that Zscaler, Inc. will post -0.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Citigroup lifted their price objective on Zscaler from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. BNP Paribas assumed coverage on Zscaler in a research note on Tuesday, October 8th. They set a “neutral” rating and a $180.00 target price on the stock. BMO Capital Markets lifted their target price on Zscaler from $197.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $230.00 price target on shares of Zscaler in a research report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $224.84.

Insiders Place Their Bets

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

Zscaler Company 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.