Van ECK Associates Corp Boosts Stake in Zscaler, Inc. (NASDAQ:ZS)

Van ECK Associates Corp grew its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 92.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,051 shares of the company's stock after buying an additional 13,978 shares during the period. Van ECK Associates Corp's holdings in Zscaler were worth $5,241,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Champlain Investment Partners LLC grew its stake in Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company's stock worth $220,401,000 after purchasing an additional 283,540 shares during the period. International Assets Investment Management LLC grew its stake in Zscaler by 13,498.6% during 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. Westfield Capital Management Co. LP grew its stake in Zscaler by 33.8% during 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. Assenagon Asset Management S.A. grew its stake in Zscaler by 59.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company's stock worth $34,421,000 after purchasing an additional 71,297 shares during the period. Finally, Thematics Asset Management boosted its holdings in Zscaler by 88.5% in the third quarter. Thematics Asset Management now owns 147,000 shares of the company's stock worth $25,128,000 after acquiring an additional 69,000 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.

Insider Activity

In related news, insider Syam Nair sold 3,682 shares of the business's stock in a transaction dated 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 $28,618,917.12. The trade was a 2.51 % 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 3,703 shares of the business's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $741,784.96. Following the transaction, the chief financial officer now owns 220,635 shares in the company, 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. 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.

Zscaler Stock Down 4.1 %

NASDAQ:ZS traded down $8.41 during trading hours on Friday, hitting $198.56. 1,986,503 shares of the company's stock traded hands, compared to its average volume of 1,499,615. The firm has a market cap of $30.47 billion, a P/E ratio of -794.24 and a beta of 0.89. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $251.55. The business's fifty day simple moving average is $195.38 and its two-hundred day simple moving average is $190.54.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (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 firm 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 company posted ($0.18) earnings per share. The company's revenue was up 26.4% compared to the same quarter last year. On average, analysts expect that Zscaler, Inc. will post -0.1 EPS for the current year.

Wall Street Analysts Forecast Growth

ZS has been the topic of several recent research reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $230.00 price target on shares of Zscaler in a report on Tuesday, December 3rd. Guggenheim reiterated a "neutral" rating on shares of Zscaler in a report on Tuesday, December 3rd. Piper Sandler increased their price target on Zscaler from $215.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. Scotiabank raised their target price on Zscaler from $205.00 to $225.00 and gave the company a "sector outperform" rating in a report on Tuesday, January 21st. Finally, JMP Securities restated a "market outperform" rating and issued a $240.00 target price (down previously from $270.00) on shares of Zscaler in a 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $226.56.

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.