Klingenstein Fields & Co. LP Grows Position in Zscaler, Inc. (NASDAQ:ZS)

Klingenstein Fields & Co. LP grew its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 94,026 shares of the company's stock after purchasing an additional 4,660 shares during the quarter. Klingenstein Fields & Co. LP owned approximately 0.06% of Zscaler worth $16,073,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ZS. Quest Partners LLC purchased a new stake in shares of Zscaler during the second quarter worth $28,000. Asset Dedication LLC boosted its position in Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company's stock worth $39,000 after acquiring an additional 166 shares during the last quarter. American Capital Advisory LLC purchased a new stake in Zscaler during the 2nd quarter valued at about $50,000. GAMMA Investing LLC raised its holdings in Zscaler by 21.3% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company's stock valued at $73,000 after acquiring an additional 67 shares during the last quarter. Finally, Quarry LP lifted its stake in Zscaler by 613.0% in the 2nd quarter. Quarry LP now owns 385 shares of the company's stock worth $74,000 after purchasing an additional 331 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.

Zscaler Price Performance

Shares of NASDAQ ZS traded up $2.31 during trading on Monday, hitting $184.90. 831,369 shares of the company were exchanged, compared to its average volume of 2,047,999. The firm's fifty day moving average price is $179.63 and its 200 day moving average price is $180.95. The company has a market cap of $28.20 billion, a price-to-earnings ratio of -462.24 and a beta of 0.82. 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 announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company's quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.17) EPS. On average, research analysts forecast that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on ZS shares. UBS Group lowered their price objective on Zscaler from $270.00 to $250.00 and set a "buy" rating for the company in a research report on Wednesday, September 4th. Cantor Fitzgerald decreased their target price on shares of Zscaler from $200.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 4th. Piper Sandler dropped their price target on shares of Zscaler from $255.00 to $215.00 and set an "overweight" rating for the company in a research report on Wednesday, September 4th. Loop Capital decreased their price objective on shares of Zscaler from $180.00 to $165.00 and set a "hold" rating on the stock in a report on Wednesday, September 4th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $270.00 target price on shares of Zscaler in a report on Monday. Ten equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Zscaler currently has an average rating of "Moderate Buy" and a consensus target price of $216.73.

Insider Buying and Selling

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the 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 sale, the chief executive officer now owns 361,432 shares of the company's stock, valued at $61,906,072.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm's stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction that occurred on Monday, September 23rd. The stock was 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 directly owns 25,907 shares of the company's stock, valued at $4,510,408.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $5,256,651 in the last ninety days. Insiders own 19.20% of the company's stock.

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.