Arthur M. Cohen & Associates LLC decreased its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 50.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,851 shares of the company's stock after selling 6,868 shares during the quarter. Arthur M. Cohen & Associates LLC's holdings in Zscaler were worth $1,144,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of ZS. Vanguard Group Inc. raised its holdings in Zscaler by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company's stock worth $1,726,307,000 after purchasing an additional 118,002 shares during the period. Bank of New York Mellon Corp raised its holdings in Zscaler by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company's stock worth $95,335,000 after purchasing an additional 25,181 shares during the period. Federated Hermes Inc. raised its holdings in Zscaler by 18.3% in the 2nd quarter. Federated Hermes Inc. now owns 394,698 shares of the company's stock worth $75,857,000 after purchasing an additional 61,037 shares during the period. Acadian Asset Management LLC raised its holdings in Zscaler by 0.9% in the 1st quarter. Acadian Asset Management LLC now owns 336,197 shares of the company's stock worth $64,744,000 after purchasing an additional 2,937 shares during the period. Finally, Ensign Peak Advisors Inc raised its holdings in Zscaler by 14.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 295,525 shares of the company's stock worth $56,797,000 after purchasing an additional 37,137 shares during the period. Hedge funds and other institutional investors own 46.45% of the company's stock.
Zscaler Stock Up 1.1 %
ZS traded up $2.01 on Tuesday, hitting $186.91. 991,350 shares of the company traded hands, compared to its average volume of 2,043,068. The company has a 50 day moving average of $179.37 and a 200-day moving average of $181.04. The stock has a market capitalization of $28.50 billion, a PE ratio of -464.30 and a beta of 0.82. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $259.61.
Zscaler (NASDAQ:ZS - Get Free Report) last released its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.09. The company had revenue of $592.90 million for the quarter, compared to analysts' expectations of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm's quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.17) EPS. On average, research analysts anticipate that Zscaler, Inc. will post -0.95 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on ZS. JPMorgan Chase & Co. reduced their target price on Zscaler from $230.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, September 4th. Piper Sandler cut 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. BMO Capital Markets cut their price target on Zscaler from $208.00 to $197.00 and set an "outperform" rating for the company in a report on Wednesday, September 4th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $230.00 price target on shares of Zscaler in a report on Wednesday, September 4th. Finally, Wedbush cut their price target on Zscaler from $260.00 to $220.00 and set an "outperform" rating for the company in a report on Wednesday, September 4th. 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $216.73.
Read Our Latest Report on Zscaler
Insider Activity at Zscaler
In related news, insider Robert Schlossman sold 1,435 shares of the company's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the sale, the insider now owns 105,806 shares of the company's stock, valued at approximately $19,224,950.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Zscaler news, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction 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 transaction, the director now owns 25,907 shares of the company's stock, valued at $4,510,408.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Robert Schlossman sold 1,435 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the transaction, the insider now directly owns 105,806 shares in the company, valued at approximately $19,224,950.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,502 shares of company stock valued at $5,256,651. 19.20% of the stock is owned by corporate insiders.
About Zscaler
(
Free Report)
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.
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