Van ECK Associates Corp Raises Position in Zscaler, Inc. (NASDAQ:ZS)

Van ECK Associates Corp lifted its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 1,786.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,073 shares of the company's stock after purchasing an additional 14,274 shares during the period. Van ECK Associates Corp's holdings in Zscaler were worth $2,728,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. lifted its holdings in shares of Zscaler by 42.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,883 shares of the company's stock worth $664,000 after buying an additional 1,165 shares during the period. Clear Creek Financial Management LLC grew its holdings in Zscaler by 4.8% during the 3rd quarter. Clear Creek Financial Management LLC now owns 2,152 shares of the company's stock worth $368,000 after acquiring an additional 98 shares in the last quarter. Lmcg Investments LLC increased its position in Zscaler by 76.8% during the 3rd quarter. Lmcg Investments LLC now owns 13,229 shares of the company's stock valued at $2,261,000 after purchasing an additional 5,748 shares during the period. Weatherly Asset Management L. P. lifted its position in shares of Zscaler by 172.5% in the 3rd quarter. Weatherly Asset Management L. P. now owns 9,430 shares of the company's stock worth $1,612,000 after purchasing an additional 5,970 shares during the period. Finally, Shepherd Financial Partners LLC boosted its stake in shares of Zscaler by 42.8% during the third quarter. Shepherd Financial Partners LLC now owns 5,035 shares of the company's stock valued at $861,000 after purchasing an additional 1,509 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Loop Capital cut their target price on Zscaler from $180.00 to $165.00 and set a "hold" rating on the stock in a research note on Wednesday, September 4th. Morgan Stanley boosted their price objective on shares of Zscaler from $202.00 to $215.00 and gave the stock an "equal weight" rating in a research note on Monday, August 26th. Piper Sandler decreased their target price on shares of Zscaler from $255.00 to $215.00 and set an "overweight" rating for the company in a research report on Wednesday, September 4th. Wells Fargo & Company cut their price target on shares of Zscaler from $182.00 to $180.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 4th. Finally, Rosenblatt Securities reiterated a "neutral" rating and set a $190.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $216.73.

Zscaler Stock Up 1.9 %

Shares of NASDAQ ZS traded up $3.81 during midday trading on Monday, hitting $199.54. The stock had a trading volume of 1,711,744 shares, compared to its average volume of 2,034,920. The stock has a 50 day simple moving average of $179.05 and a 200-day simple moving average of $181.58. The company has a market capitalization of $30.43 billion, a PE ratio of -489.31 and a beta of 0.82. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $259.61.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.09. The firm had revenue of $592.90 million for 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%. The company's revenue for the quarter was up 30.3% on a year-over-year basis. During the same period last year, the firm posted ($0.17) earnings per share. As a group, analysts expect that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Remo Canessa sold 8,455 shares of Zscaler stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the sale, the chief financial officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Remo Canessa sold 8,455 shares of the business's stock in a transaction dated 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 sale, the chief financial officer now directly owns 231,793 shares in the company, valued at approximately $39,701,505.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company's stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the transaction, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,502 shares of company stock worth $5,256,651. Insiders own 19.20% 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.