Massachusetts Financial Services Co. MA Invests $25.29 Million in Zscaler, Inc. (NASDAQ:ZS)

Massachusetts Financial Services Co. MA bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 131,573 shares of the company’s stock, valued at approximately $25,287,000. Massachusetts Financial Services Co. MA owned 0.09% of Zscaler at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ZS. 1832 Asset Management L.P. acquired a new stake in Zscaler during the 4th quarter worth approximately $217,683,000. Norges Bank acquired a new stake in Zscaler during the 4th quarter worth approximately $117,599,000. Quadrature Capital Ltd acquired a new stake in Zscaler during the 1st quarter worth approximately $47,217,000. Vanguard Group Inc. lifted its holdings in Zscaler by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 8,843,772 shares of the company’s stock worth $1,959,426,000 after purchasing an additional 206,908 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in Zscaler during the 1st quarter worth approximately $27,954,000. 46.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zscaler

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

Zscaler Stock Up 0.1 %

Shares of ZS stock opened at $172.71 on Friday. The stock’s fifty day simple moving average is $181.87 and its 200 day simple moving average is $183.42. Zscaler, Inc. has a twelve month low of $146.59 and a twelve month high of $259.61. The firm has a market capitalization of $26.34 billion, a P/E ratio of -338.65 and a beta of 0.82.

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

Analyst Ratings Changes

Several analysts recently weighed in on the company. Cantor Fitzgerald dropped their price target on Zscaler from $200.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $270.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. Scotiabank dropped their price objective on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating for the company in a report on Wednesday, September 4th. Morgan Stanley lifted their price objective on Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. Finally, Citigroup dropped their price objective on Zscaler from $270.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $218.39.

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.