Victory Capital Management Inc. Has $20.60 Million Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Victory Capital Management Inc. trimmed its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 7.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 120,512 shares of the company's stock after selling 9,627 shares during the quarter. Victory Capital Management Inc. owned approximately 0.08% of Zscaler worth $20,600,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. DekaBank Deutsche Girozentrale raised its holdings in shares of Zscaler by 7.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company's stock valued at $37,495,000 after buying an additional 14,701 shares during the last quarter. Creative Planning lifted its position in shares of Zscaler by 7.6% during the third quarter. Creative Planning now owns 148,534 shares of the company's stock worth $25,390,000 after purchasing an additional 10,551 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Zscaler during the second quarter valued at approximately $25,287,000. Strategic Advisors LLC grew its stake in shares of Zscaler by 470.0% during the third quarter. Strategic Advisors LLC now owns 8,140 shares of the company's stock valued at $1,391,000 after purchasing an additional 6,712 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Zscaler by 1,786.5% in the 3rd quarter. Van ECK Associates Corp now owns 15,073 shares of the company's stock worth $2,728,000 after purchasing an additional 14,274 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.

Analyst Upgrades and Downgrades

ZS has been the topic of a number of recent research reports. Wedbush decreased their price objective on Zscaler from $260.00 to $220.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 4th. Raymond James initiated coverage on Zscaler in a research report on Tuesday, July 23rd. They issued a "market perform" rating for the company. Royal Bank of Canada restated an "outperform" rating and set a $230.00 target price on shares of Zscaler in a research report on Wednesday, September 4th. Needham & Company LLC dropped their price target on shares of Zscaler from $290.00 to $235.00 and set a "strong-buy" rating for the company in a research note on Wednesday, September 4th. Finally, BNP Paribas began coverage on shares of Zscaler in a report on Tuesday, October 8th. They issued a "neutral" rating and a $180.00 price objective on the stock. 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's stock. According to data from MarketBeat, Zscaler has a consensus rating of "Moderate Buy" and an average target price of $217.18.

Zscaler Stock Up 0.7 %

ZS stock traded up $1.51 during mid-day trading on Tuesday, reaching $204.36. The company had a trading volume of 1,094,439 shares, compared to its average volume of 2,023,766. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $259.61. The stock has a 50 day simple moving average of $183.11 and a two-hundred day simple moving average of $182.84.

Zscaler (NASDAQ:ZS - Get Free Report) last released its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business had revenue of $592.90 million during the quarter, compared to analysts' expectations of $567.46 million. During the same period last year, the business earned ($0.17) earnings per share. The firm's revenue was up 30.3% on a year-over-year basis. Analysts anticipate that Zscaler, Inc. will post -0.97 EPS for the current fiscal year.

Insider Activity

In related news, insider Robert Schlossman sold 4,947 shares of the company's stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $170.22, for a total value of $842,078.34. Following the transaction, the insider now owns 107,241 shares in the company, valued at approximately $18,254,563.02. This represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael J. Rich sold 4,813 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $824,370.64. Following the completion of the transaction, the insider now directly owns 103,259 shares in the company, valued at approximately $17,686,201.52. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,502 shares of company stock valued at $5,256,651. 19.20% of the stock is owned by company insiders.

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.