LMR Partners LLP Invests $1.79 Million in Zscaler, Inc. (NASDAQ:ZS)

LMR Partners LLP purchased a new stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 10,453 shares of the company's stock, valued at approximately $1,787,000.

Other hedge funds have also bought and sold shares of the company. Swiss National Bank increased its stake in shares of Zscaler by 1.1% during the 3rd quarter. Swiss National Bank now owns 269,200 shares of the company's stock worth $46,017,000 after purchasing an additional 2,900 shares during the last quarter. KCM Investment Advisors LLC bought a new position in Zscaler during the third quarter valued at $373,000. Empowered Funds LLC raised its stake in shares of Zscaler by 3.5% in the third quarter. Empowered Funds LLC now owns 19,578 shares of the company's stock valued at $3,347,000 after buying an additional 665 shares during the period. Sheaff Brock Investment Advisors LLC lifted its position in shares of Zscaler by 2.5% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 4,011 shares of the company's stock valued at $686,000 after buying an additional 96 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Zscaler by 4.7% in the 3rd quarter. CIBC Asset Management Inc now owns 29,774 shares of the company's stock worth $5,090,000 after acquiring an additional 1,323 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors.

Zscaler Stock Up 0.7 %

NASDAQ ZS traded up $1.51 during trading on Tuesday, hitting $204.36. The company had a trading volume of 1,094,439 shares, compared to its average volume of 2,023,766. The company's fifty day moving average is $183.11 and its 200-day moving average is $182.84. Zscaler, Inc. has a one year low of $153.45 and a one year high of $259.61.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.09. The business had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. Zscaler's quarterly revenue was up 30.3% compared to the same quarter last year. During the same period last year, the business posted ($0.17) earnings per share. Equities analysts expect that Zscaler, Inc. will post -0.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ZS shares. JPMorgan Chase & Co. lowered their target price on shares of Zscaler from $230.00 to $220.00 and set an "overweight" rating on the stock in a report on Wednesday, September 4th. Raymond James initiated coverage on shares of Zscaler in a report on Tuesday, July 23rd. They issued a "market perform" rating on the stock. Rosenblatt Securities reaffirmed a "neutral" rating and set a $190.00 target price on shares of Zscaler in a report on Wednesday, September 4th. Stifel Nicolaus increased their price objective on Zscaler from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Finally, BTIG Research reduced their target price on Zscaler from $220.00 to $205.00 and set a "buy" rating for the company in a research report on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Zscaler presently has a consensus rating of "Moderate Buy" and a consensus price target of $217.18.

Insider Transactions at Zscaler

In related news, Director Andrew William Fraser Brown sold 8,000 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the completion of the sale, the director now owns 25,907 shares of the company's stock, valued at $4,510,408.70. This trade represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the company's stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the transaction, the insider now directly owns 105,806 shares in the company, valued at $19,224,950.20. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock valued at $5,256,651 in the last ninety days. 19.20% of the stock is currently owned by corporate insiders.

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.