Zweig DiMenna Associates LLC Purchases 15,350 Shares of Zscaler, Inc. (NASDAQ:ZS)

Zweig DiMenna Associates LLC increased its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 34.3% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 60,041 shares of the company's stock after purchasing an additional 15,350 shares during the period. Zweig DiMenna Associates LLC's holdings in Zscaler were worth $10,263,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC lifted its position in shares of Zscaler by 40.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 2,438 shares of the company's stock worth $470,000 after purchasing an additional 696 shares in the last quarter. Norway Savings Bank grew its stake in shares of Zscaler by 33.7% in the first quarter. Norway Savings Bank now owns 3,770 shares of the company's stock worth $726,000 after acquiring an additional 950 shares in the last quarter. KRS Capital Management LLC increased its position in shares of Zscaler by 45.2% during the first quarter. KRS Capital Management LLC now owns 3,151 shares of the company's stock worth $607,000 after acquiring an additional 981 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in shares of Zscaler by 109.1% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 3,455 shares of the company's stock worth $666,000 after acquiring an additional 1,803 shares during the period. Finally, Deltec Asset Management LLC purchased a new position in Zscaler in the first quarter valued at $2,678,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ZS. Scotiabank decreased their price target on shares of Zscaler from $210.00 to $195.00 and set a "sector outperform" rating for the company in a research note on Wednesday, September 4th. Robert W. Baird decreased their price target on Zscaler from $260.00 to $225.00 and set an "outperform" rating for the company in a report on Wednesday, September 4th. Wedbush dropped their price objective on Zscaler from $260.00 to $220.00 and set an "outperform" rating on the stock in a report on Wednesday, September 4th. Piper Sandler lowered their price target on Zscaler from $255.00 to $215.00 and set an "overweight" rating for the company in a report on Wednesday, September 4th. Finally, Morgan Stanley raised their price objective on shares of Zscaler from $202.00 to $215.00 and gave the stock an "equal weight" rating in a report on Monday, August 26th. Ten investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Zscaler currently has an average rating of "Moderate Buy" and a consensus target price of $216.73.

Insider Transactions at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the sale, the chief executive officer now directly owns 361,432 shares of the company's stock, valued at $61,906,072.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Zscaler news, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler 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 transaction, the director now directly owns 25,907 shares in the company, valued at approximately $4,510,408.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock valued at $5,256,651 in the last quarter. Insiders own 19.20% of the company's stock.

Zscaler Trading Up 0.6 %

ZS traded up $1.03 during trading hours on Friday, hitting $184.96. The company's stock had a trading volume of 924,256 shares, compared to its average volume of 2,074,672. Zscaler, Inc. has a fifty-two week low of $152.60 and a fifty-two week high of $259.61. The company has a 50-day simple moving average of $181.06 and a 200 day simple moving average of $180.75. The firm has a market capitalization of $27.96 billion, a PE ratio of -365.51 and a beta of 0.82.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The company had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. During the same period in the previous year, the firm earned ($0.17) EPS. Zscaler's revenue was up 30.3% on a year-over-year basis. Research analysts expect that Zscaler, Inc. will post -0.95 earnings per share 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.