Rhumbline Advisers Raises Holdings in Zscaler, Inc. (NASDAQ:ZS)

Rhumbline Advisers lifted its stake in Zscaler, Inc. (NASDAQ:ZS) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 128,579 shares of the company’s stock after buying an additional 629 shares during the quarter. Rhumbline Advisers owned approximately 0.08% of Zscaler worth $23,197,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ZS. Global X Japan Co. Ltd. lifted its position in shares of Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after acquiring an additional 79 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in Zscaler during the fourth quarter worth $29,000. Prestige Wealth Management Group LLC acquired a new stake in Zscaler during the third quarter worth $31,000. True Wealth Design LLC increased its stake 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 last quarter. Finally, Versant Capital Management Inc increased its stake in Zscaler by 136.8% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Transactions at Zscaler

In related news, insider Syam Nair sold 3,682 shares of the business’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 $737,578.24. Following the sale, the insider now owns 142,866 shares of the company’s stock, valued at $28,618,917.12. The trade was a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the sale, the chief executive officer now directly owns 358,569 shares in the company, valued at approximately $71,828,542.08. This represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,248 shares of company stock worth $2,052,879. Insiders own 18.10% of the company’s stock.

Zscaler Price Performance

Shares of ZS opened at $206.97 on Friday. The firm’s 50 day simple moving average is $195.38 and its 200 day simple moving average is $190.31. The company has a market capitalization of $31.76 billion, a P/E ratio of -827.88 and a beta of 0.89. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $251.55.

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

Analysts Set New Price Targets

Several research firms have recently commented on ZS. BTIG Research raised their price target on Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Mizuho lifted their target price on Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. KeyCorp lifted their target price on Zscaler from $245.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Loop Capital decreased their target price on Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a report on Tuesday, December 3rd. Finally, Jefferies Financial Group lifted their target price on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Eleven investment 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, Zscaler presently has a consensus rating of “Moderate Buy” and an average target price of $225.63.

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.