Readystate Asset Management LP Buys 36,221 Shares of Zscaler, Inc. (NASDAQ:ZS)

Readystate Asset Management LP boosted its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 123.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,611 shares of the company's stock after purchasing an additional 36,221 shares during the period. Readystate Asset Management LP's holdings in Zscaler were worth $11,216,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Champlain Investment Partners LLC increased its stake in shares of Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company's stock valued at $220,401,000 after buying an additional 283,540 shares during the period. Bank of New York Mellon Corp grew its stake in Zscaler by 5.3% in the second 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. Westfield Capital Management Co. LP grew its stake in Zscaler by 33.8% in the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company's stock worth $68,293,000 after purchasing an additional 100,814 shares during the period. Federated Hermes Inc. grew its stake in Zscaler by 18.3% in the second 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. Finally, Charles Schwab Investment Management Inc. grew its stake in Zscaler by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company's stock worth $60,696,000 after purchasing an additional 16,634 shares during the period. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Scotiabank upped their price target on Zscaler from $195.00 to $205.00 and gave the stock a "sector outperform" rating in a research note on Tuesday. BMO Capital Markets upped their price target on Zscaler from $197.00 to $222.00 and gave the stock an "outperform" rating in a research note on Tuesday. Guggenheim reaffirmed a "neutral" rating on shares of Zscaler in a research note on Tuesday. Susquehanna boosted their target price on Zscaler from $210.00 to $225.00 and gave the stock a "positive" rating in a report on Tuesday. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $230.00 target price on shares of Zscaler in a report on Tuesday. Eleven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $224.84.

Zscaler Stock Up 0.9 %

ZS traded up $1.93 during trading hours on Thursday, hitting $208.29. 1,408,312 shares of the company's stock were exchanged, compared to its average volume of 2,052,324. 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 is $191.98 and its two-hundred day moving average is $185.29. The stock has a market cap of $31.96 billion, a price-to-earnings ratio of -825.44 and a beta of 0.82.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.14. The firm had revenue of $628.00 million during the quarter, compared to analysts' expectations of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.80%. The company's revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.18) earnings per share. On average, equities research analysts anticipate that Zscaler, Inc. will post -0.95 EPS for the current year.

Insider Buying and Selling at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business'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 value of $488,490.56. Following the transaction, the chief executive officer now owns 361,432 shares in the company, valued at approximately $61,906,072.96. The trade was a 0.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Schlossman sold 1,435 shares of the business'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 transaction of $260,739.50. Following the completion of the transaction, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock valued at $5,256,651 in the last ninety days. 18.10% of the stock is currently owned by company insiders.

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.