Pacer Advisors Inc. Increases Stake in Zscaler, Inc. (NASDAQ:ZS)

Pacer Advisors Inc. raised its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 144.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,820 shares of the company's stock after purchasing an additional 21,173 shares during the period. Pacer Advisors Inc.'s holdings in Zscaler were worth $6,462,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Champlain Investment Partners LLC raised its stake in Zscaler by 28.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company's stock valued at $220,401,000 after acquiring an additional 283,540 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Zscaler by 13,498.6% in the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company's stock worth $48,769,000 after purchasing an additional 283,201 shares during the period. GuoLine Advisory Pte Ltd acquired a new position in Zscaler during the 3rd quarter valued at about $32,660,000. Westfield Capital Management Co. LP raised its position in shares of Zscaler by 33.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company's stock worth $68,293,000 after buying an additional 100,814 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Zscaler by 59.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company's stock worth $34,421,000 after acquiring an additional 71,297 shares during the period. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Trading Up 0.6 %

Shares of NASDAQ ZS traded up $1.20 during mid-day trading on Thursday, hitting $202.83. The company had a trading volume of 792,868 shares, compared to its average volume of 1,492,419. The company has a market capitalization of $31.12 billion, a price-to-earnings ratio of -811.32 and a beta of 0.87. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $259.61. The stock's 50-day moving average price is $194.83 and its 200-day moving average price is $187.81.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings data on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The company had revenue of $628.00 million during the quarter, compared to analyst estimates of $605.51 million. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. Zscaler's revenue was up 26.4% on a year-over-year basis. As a group, equities research analysts forecast that Zscaler, Inc. will post -0.16 earnings per share for the current year.

Wall Street Analyst Weigh In

ZS has been the topic of a number of recent research reports. Piper Sandler lifted their target price on Zscaler from $215.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. Guggenheim reissued a "neutral" rating on shares of Zscaler in a research report on Tuesday, December 3rd. Stifel Nicolaus raised their price objective on shares of Zscaler from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Barclays lifted their target price on shares of Zscaler from $200.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday, November 21st. Finally, Canaccord Genuity Group raised their price objective on shares of Zscaler from $220.00 to $230.00 and gave the company a "buy" rating in a research report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Zscaler currently has a consensus rating of "Moderate Buy" and an average target price of $225.47.

Insider Activity

In other Zscaler news, insider Syam Nair sold 3,682 shares of the company's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $737,578.24. Following the transaction, the insider now owns 142,866 shares in the company, valued at approximately $28,618,917.12. This represents a 2.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Remo Canessa sold 3,703 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the transaction, the chief financial officer now directly owns 220,635 shares of the company's stock, valued at $44,197,603.20. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,248 shares of company stock valued at $2,052,879. Insiders own 18.10% 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.