SpiderRock Advisors LLC Buys 16,000 Shares of Zscaler, Inc. (NASDAQ:ZS)

SpiderRock Advisors LLC grew its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 1,396.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,146 shares of the company's stock after acquiring an additional 16,000 shares during the period. SpiderRock Advisors LLC's holdings in Zscaler were worth $2,931,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Quest Partners LLC purchased a new position in shares of Zscaler in the 2nd quarter valued at $28,000. Asset Dedication LLC increased its stake in Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company's stock worth $39,000 after buying an additional 166 shares during the period. American Capital Advisory LLC purchased a new stake in Zscaler during the 2nd quarter worth $50,000. GAMMA Investing LLC increased its stake in Zscaler by 21.3% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company's stock worth $73,000 after buying an additional 67 shares during the period. Finally, Quarry LP increased its stake in Zscaler by 613.0% during the 2nd quarter. Quarry LP now owns 385 shares of the company's stock worth $74,000 after buying an additional 331 shares during the period. Hedge funds and other institutional investors own 46.45% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ZS shares. BTIG Research reduced their target price on Zscaler from $220.00 to $205.00 and set a "buy" rating for the company in a research note on Wednesday, September 4th. Barclays reduced their price objective on shares of Zscaler from $230.00 to $200.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 4th. Cantor Fitzgerald dropped their target price on shares of Zscaler from $200.00 to $170.00 and set a "neutral" rating for the company in a research report on Wednesday, September 4th. Oppenheimer reduced their price target on shares of Zscaler from $260.00 to $230.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 4th. Finally, Citigroup lowered their price objective on Zscaler from $240.00 to $230.00 and set a "buy" rating for the company in a report on Friday, October 4th. Ten 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $216.73.

Insiders Place Their Bets

In other news, CFO Remo Canessa sold 8,455 shares of the company's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $1,448,172.40. Following the transaction, the chief financial officer now owns 231,793 shares in the company, valued at $39,701,505.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company's stock in a transaction dated Tuesday, September 17th. The stock was 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 $61,906,072.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Remo Canessa sold 8,455 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 $1,448,172.40. Following the completion of the sale, the chief financial officer now directly owns 231,793 shares of the company's stock, valued at approximately $39,701,505.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,502 shares of company stock worth $5,256,651. Company insiders own 19.20% of the company's stock.

Zscaler Stock Performance

NASDAQ ZS traded down $0.98 on Friday, reaching $195.73. The company's stock had a trading volume of 1,062,257 shares, compared to its average volume of 1,303,028. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $259.61. The stock has a market cap of $29.85 billion, a PE ratio of -489.31 and a beta of 0.82. The firm's 50 day moving average is $179.05 and its two-hundred day moving average is $181.58.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.09. The company had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. Zscaler's revenue was up 30.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.17) EPS. Equities research analysts anticipate that Zscaler, Inc. will post -0.95 EPS for the current fiscal year.

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.