Sanctuary Advisors LLC Boosts Position in Zscaler, Inc. (NASDAQ:ZS)

Sanctuary Advisors LLC increased its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 48.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,107 shares of the company's stock after purchasing an additional 3,608 shares during the quarter. Sanctuary Advisors LLC's holdings in Zscaler were worth $1,899,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ZS. Geode Capital Management LLC boosted its position in shares of Zscaler by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company's stock worth $277,327,000 after purchasing an additional 60,414 shares during the period. Champlain Investment Partners LLC increased its stake in Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company's stock worth $220,401,000 after buying an additional 283,540 shares in the last quarter. Bank of New York Mellon Corp increased its stake 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 buying an additional 25,181 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in Zscaler by 33.8% during the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company's stock valued at $68,293,000 after acquiring an additional 100,814 shares during the period. Finally, Federated Hermes Inc. lifted its position in shares of Zscaler by 18.3% in the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company's stock valued at $75,857,000 after acquiring an additional 61,037 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Trading Down 1.3 %

Shares of NASDAQ ZS traded down $2.48 during trading hours on Thursday, reaching $183.21. The stock had a trading volume of 2,546,252 shares, compared to its average volume of 2,060,923. The business's fifty day moving average price is $197.72 and its two-hundred day moving average price is $187.55. The firm has a market cap of $28.11 billion, a price-to-earnings ratio of -732.84 and a beta of 0.82. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $259.61.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.14. The business had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business's revenue was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.18) EPS. Equities research analysts anticipate that Zscaler, Inc. will post -0.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

ZS has been the topic of several recent analyst reports. Citigroup lifted their target price on Zscaler from $230.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. JMP Securities reiterated a "market outperform" rating and set a $240.00 price objective (down previously from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. Morgan Stanley dropped their target price on shares of Zscaler from $215.00 to $205.00 and set an "equal weight" rating for the company in a research report on Tuesday, December 3rd. Canaccord Genuity Group lifted their price target on shares of Zscaler from $220.00 to $230.00 and gave the company a "buy" rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company boosted their price target on shares of Zscaler from $180.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Wednesday, December 4th. Eleven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $224.84.

Insider Activity at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the business's stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $573,516.16. Following the sale, the chief executive officer now owns 358,569 shares of the company's stock, valued at approximately $71,828,542.08. The trade was a 0.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Remo Canessa sold 3,703 shares of the firm's stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction 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 approximately $44,197,603.20. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,630 shares of company stock valued at $4,548,497 over the last 90 days. Insiders own 18.10% of the company's stock.

Zscaler Company 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.