Choreo LLC Boosts Holdings in Zscaler, Inc. (NASDAQ:ZS)

Choreo LLC boosted its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 2.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,833 shares of the company’s stock after purchasing an additional 73 shares during the period. Choreo LLC’s holdings in Zscaler were worth $517,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Prestige Wealth Management Group LLC acquired a new stake in Zscaler in the third quarter valued at approximately $31,000. Versant Capital Management Inc increased its holdings in Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 104 shares in the last quarter. True Wealth Design LLC raised its position in Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after acquiring an additional 185 shares during the period. Modus Advisors LLC purchased a new position in Zscaler during the fourth quarter valued at $36,000. Finally, Crews Bank & Trust acquired a new stake in shares of Zscaler in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Stock Down 1.5 %

ZS opened at $209.24 on Wednesday. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $256.42. The business has a fifty day simple moving average of $194.49 and a 200-day simple moving average of $188.70. The firm has a market cap of $32.11 billion, a P/E ratio of -836.96 and a beta of 0.89.

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

Insider Activity

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $741,784.96. Following the sale, the chief financial officer now directly owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of Zscaler stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the sale, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. This trade represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,248 shares of company stock worth $2,052,879. Corporate insiders own 18.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ZS shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 price target on shares of Zscaler in a research note on Tuesday, December 3rd. Susquehanna raised their target price on Zscaler from $210.00 to $225.00 and gave the company a “positive” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus boosted their price target on Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. lifted their target price on shares of Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Finally, Loop Capital reduced their target price on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a research report on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and an average price target of $225.47.

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.