Mark Asset Management LP Acquires Shares of 40,188 Zscaler, Inc. (NASDAQ:ZS)

Mark Asset Management LP bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 40,188 shares of the company's stock, valued at approximately $7,724,000. Zscaler comprises approximately 0.8% of Mark Asset Management LP's holdings, making the stock its 27th biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of ZS. Maverick Capital Ltd. acquired a new position in Zscaler in the 2nd quarter valued at $434,000. MBB Public Markets I LLC bought a new stake in shares of Zscaler in the second quarter valued at about $1,200,000. APG Asset Management US Inc. grew its stake in shares of Zscaler by 2.4% in the second quarter. APG Asset Management US Inc. now owns 27,477 shares of the company's stock valued at $5,457,000 after acquiring an additional 644 shares in the last quarter. Caxton Associates LP increased its position in Zscaler by 467.9% during the second quarter. Caxton Associates LP now owns 79,500 shares of the company's stock worth $15,279,000 after acquiring an additional 65,500 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Zscaler by 62.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 17,219 shares of the company's stock worth $3,309,000 after purchasing an additional 6,593 shares in the last quarter. Institutional investors own 46.45% of the company's stock.

Insider Transactions at Zscaler

In other news, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the sale, the director now directly owns 25,907 shares of the company's stock, valued at $4,510,408.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the sale, the director now owns 25,907 shares in the company, valued at $4,510,408.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael J. Rich sold 4,813 shares of Zscaler stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the transaction, the insider now directly owns 103,259 shares in the company, valued at approximately $17,686,201.52. The disclosure for this sale can be found here. Insiders sold a total of 24,120 shares of company stock valued at $4,153,834 over the last three months. Corporate insiders own 19.20% of the company's stock.

Zscaler Trading Up 1.1 %

NASDAQ ZS traded up $1.85 on Friday, hitting $172.78. 258,667 shares of the company were exchanged, compared to its average volume of 2,123,694. The company has a market cap of $26.12 billion, a PE ratio of -335.16 and a beta of 0.82. The stock has a fifty day moving average of $179.26 and a 200-day moving average of $182.32. Zscaler, Inc. has a 12 month low of $146.71 and a 12 month high of $259.61.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.18. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. During the same period in the prior year, the business earned ($0.17) EPS. The firm's revenue for the quarter was up 30.3% on a year-over-year basis. On average, analysts expect that Zscaler, Inc. will post -0.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. UBS Group lowered their price objective on Zscaler from $270.00 to $250.00 and set a "buy" rating on the stock in a research note on Wednesday, September 4th. Wedbush dropped their price target on Zscaler from $260.00 to $220.00 and set an "outperform" rating for the company in a research note on Wednesday, September 4th. Scotiabank cut their price objective on shares of Zscaler from $210.00 to $195.00 and set a "sector outperform" rating for the company in a research report on Wednesday, September 4th. Raymond James assumed coverage on shares of Zscaler in a report on Tuesday, July 23rd. They issued a "market perform" rating on the stock. Finally, Sanford C. Bernstein cut their price target on shares of Zscaler from $280.00 to $270.00 and set an "outperform" rating for the company in a report on Friday, May 31st. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Zscaler presently has a consensus rating of "Moderate Buy" and a consensus price target of $218.39.

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.