Assenagon Asset Management S.A. Grows Position in Zscaler, Inc. (NASDAQ:ZS)

Assenagon Asset Management S.A. boosted its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 59.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,794 shares of the company's stock after acquiring an additional 71,297 shares during the period. Assenagon Asset Management S.A. owned 0.12% of Zscaler worth $34,421,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Rockland Trust Co. acquired a new stake in shares of Zscaler during the 4th quarter worth approximately $203,000. Tlwm increased its position in Zscaler by 4.7% in the 4th quarter. Tlwm now owns 4,579 shares of the company's stock valued at $826,000 after acquiring an additional 206 shares during the period. Pallas Capital Advisors LLC raised its stake in Zscaler by 95.4% during the 4th quarter. Pallas Capital Advisors LLC now owns 4,491 shares of the company's stock valued at $810,000 after acquiring an additional 2,193 shares in the last quarter. Salem Investment Counselors Inc. grew its stake in shares of Zscaler by 1.9% in the fourth quarter. Salem Investment Counselors Inc. now owns 10,043 shares of the company's stock worth $1,812,000 after purchasing an additional 188 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Zscaler by 1.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,666 shares of the company's stock valued at $1,994,000 after purchasing an additional 151 shares during the period. Institutional investors own 46.45% of the company's stock.

Analysts Set New Price Targets

ZS has been the subject of a number of research reports. Oppenheimer raised their price objective on Zscaler from $230.00 to $250.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. KeyCorp boosted their price objective on shares of Zscaler from $245.00 to $250.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 3rd. Morgan Stanley decreased their target price on Zscaler from $215.00 to $205.00 and set an "equal weight" rating for the company in a research note on Tuesday, December 3rd. Piper Sandler boosted their price objective on shares of Zscaler from $215.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. Finally, Loop Capital cut their price target on Zscaler from $200.00 to $195.00 and set a "hold" rating for the company in a report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $224.84.

Insider Buying and Selling

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 transaction, the insider now directly owns 142,866 shares in the company, valued at approximately $28,618,917.12. This trade represents a 2.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Remo Canessa sold 3,703 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 value of $741,784.96. Following the sale, the chief financial officer now owns 220,635 shares in the company, 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 have sold a total of 10,248 shares of company stock valued at $2,052,879 over the last ninety days. 18.10% of the stock is owned by company insiders.

Zscaler Price Performance

NASDAQ:ZS traded up $0.03 during trading hours on Friday, reaching $187.58. 1,303,200 shares of the company were exchanged, compared to its average volume of 1,510,545. The company has a market capitalization of $28.78 billion, a P/E ratio of -750.32 and a beta of 0.87. The business has a 50 day moving average of $196.61 and a 200 day moving average of $188.20. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.14. The company had revenue of $628.00 million for the quarter, compared to analysts' expectations 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 last year, the business earned ($0.18) earnings per share. As a group, equities research analysts anticipate that Zscaler, Inc. will post -0.16 earnings per share for the current fiscal year.

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.