CHURCHILL MANAGEMENT Corp Acquires Shares of 10,952 Zscaler, Inc. (NASDAQ:ZS)

CHURCHILL MANAGEMENT Corp bought a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,952 shares of the company's stock, valued at approximately $1,976,000.

A number of other institutional investors have also made changes to their positions in ZS. Quest Partners LLC acquired a new stake in shares of Zscaler in the 2nd quarter valued at $28,000. Prestige Wealth Management Group LLC acquired a new stake in Zscaler in the third quarter worth about $31,000. True Wealth Design LLC raised its holdings in Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company's stock worth $32,000 after purchasing an additional 185 shares during the last quarter. Versant Capital Management Inc lifted its position in Zscaler by 136.8% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company's stock valued at $32,000 after purchasing an additional 104 shares during the period. Finally, Modus Advisors LLC bought a new position in shares of Zscaler in the 4th quarter valued at about $36,000. 46.45% of the stock is owned by institutional investors.

Zscaler Price Performance

NASDAQ:ZS traded up $0.03 on Friday, hitting $187.58. 1,303,200 shares of the company's stock were exchanged, compared to its average volume of 1,510,545. The firm has a 50-day moving average price of $196.61 and a 200-day moving average price of $188.20. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $259.61. The company has a market cap of $28.78 billion, a P/E ratio of -750.32 and a beta of 0.87.

Zscaler (NASDAQ:ZS - Get Free Report) last released its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. The business had revenue of $628.00 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.18) earnings per share. On average, research analysts expect that Zscaler, Inc. will post -0.16 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the transaction, the chief executive officer now directly owns 358,569 shares of the company's stock, valued at $71,828,542.08. This represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Remo Canessa sold 3,703 shares of the firm'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 transaction of $741,784.96. Following the sale, the chief financial officer now owns 220,635 shares of the company's stock, valued at $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. Insiders sold a total of 10,248 shares of company stock valued at $2,052,879 in the last quarter. Company insiders own 18.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ZS. Royal Bank of Canada reissued an "outperform" rating and set a $230.00 price target on shares of Zscaler in a research note on Tuesday, December 3rd. Cantor Fitzgerald upgraded shares of Zscaler to a "hold" rating in a research report on Monday, November 18th. Piper Sandler raised their price target on Zscaler from $215.00 to $235.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. Oppenheimer upped their price objective on Zscaler from $230.00 to $250.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company raised their target price on Zscaler from $180.00 to $190.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 4th. Eleven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company's stock. Based on data from MarketBeat, Zscaler presently has an average rating of "Moderate Buy" and an average target price of $224.84.

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.