Avanza Fonder AB Makes New Investment in Zscaler, Inc. (NASDAQ:ZS)

Avanza Fonder AB bought a new position in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,713 shares of the company's stock, valued at approximately $1,211,000.

Other large investors have also recently made changes to their positions in the company. Prestige Wealth Management Group LLC purchased a new stake in shares of Zscaler in the 3rd quarter worth $31,000. True Wealth Design LLC lifted its stake in Zscaler by 18,500.0% in 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. Versant Capital Management Inc grew its holdings in Zscaler by 136.8% during 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. Modus Advisors LLC purchased a new position in Zscaler during the 4th quarter valued at about $36,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Zscaler in the 3rd quarter valued at about $38,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Zscaler news, insider Syam Nair sold 3,682 shares of the firm'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 completion of 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Remo Canessa sold 3,703 shares of the company'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 $741,784.96. Following the completion of the sale, the chief financial officer now directly owns 220,635 shares in the company, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,248 shares of company stock valued at $2,052,879. Corporate insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ZS shares. Piper Sandler lifted their price objective on shares of Zscaler from $215.00 to $235.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. Stifel Nicolaus lifted their price target on shares of Zscaler from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Morgan Stanley decreased their price objective on Zscaler from $215.00 to $205.00 and set an "equal weight" rating for the company in a report on Tuesday, December 3rd. Wells Fargo & Company boosted their target price on Zscaler from $180.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Wednesday, December 4th. Finally, Loop Capital reduced their target price on Zscaler from $200.00 to $195.00 and set a "hold" rating on the stock in a research report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company's stock. According to MarketBeat.com, Zscaler currently has an average rating of "Moderate Buy" and an average price target of $224.84.

Zscaler Price Performance

Shares of NASDAQ:ZS traded up $0.03 during trading on Monday, reaching $187.58. The company had a trading volume of 1,303,200 shares, compared to its average volume of 1,444,462. The stock's fifty day moving average price is $196.44 and its 200 day moving average price is $187.99. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The firm has a market capitalization of $28.78 billion, a price-to-earnings ratio of -750.32 and a beta of 0.87.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly earnings data on Monday, December 2nd. The company reported $0.77 EPS 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 firm had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. During the same quarter last year, the firm earned ($0.18) earnings per share. The firm's revenue was up 26.4% compared to the same quarter last year. On average, equities analysts anticipate that Zscaler, Inc. will post -0.16 EPS for the current fiscal year.

Zscaler 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.