Tidal Investments LLC Increases Position in Zscaler, Inc. (NASDAQ:ZS)

Tidal Investments LLC grew its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 278.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,098 shares of the company's stock after acquiring an additional 25,099 shares during the period. Tidal Investments LLC's holdings in Zscaler were worth $5,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ZS. Swedbank AB raised its stake in Zscaler by 0.8% during the 2nd quarter. Swedbank AB now owns 9,036 shares of the company's stock worth $1,737,000 after acquiring an additional 76 shares during the period. Blue Trust Inc. raised its position in shares of Zscaler by 18.0% during the 2nd quarter. Blue Trust Inc. now owns 1,252 shares of the company's stock valued at $241,000 after purchasing an additional 191 shares during the period. OFI Invest Asset Management lifted its stake in shares of Zscaler by 1,935.7% during the 2nd quarter. OFI Invest Asset Management now owns 855 shares of the company's stock valued at $153,000 after buying an additional 813 shares in the last quarter. Vista Investment Partners LLC bought a new position in Zscaler in the 2nd quarter worth $563,000. Finally, Central Bank & Trust Co. purchased a new stake in Zscaler in the 2nd quarter worth $75,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ZS has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $230.00 price objective on shares of Zscaler in a report on Tuesday, December 3rd. Loop Capital reduced their price target on shares of Zscaler from $200.00 to $195.00 and set a "hold" rating on the stock in a report on Tuesday, December 3rd. Stifel Nicolaus increased their price objective on shares of Zscaler from $220.00 to $235.00 and gave the company a "buy" rating in a report on Thursday, November 14th. BNP Paribas began coverage on Zscaler in a report on Tuesday, October 8th. They issued a "neutral" rating and a $180.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on Zscaler from $180.00 to $190.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 4th. Eleven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $224.84.

Insiders Place Their Bets

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 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 $488,490.56. Following the completion of the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. The trade was a 0.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the completion of the sale, the director now owns 25,907 shares in the company, valued at $4,510,408.70. The trade was a 23.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,502 shares of company stock valued at $5,256,651. 18.10% of the stock is currently owned by corporate insiders.

Zscaler Trading Down 3.8 %

Shares of NASDAQ:ZS traded down $7.82 on Friday, reaching $198.54. The company had a trading volume of 1,887,950 shares, compared to its average volume of 2,130,000. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $259.61. The firm's 50 day simple moving average is $196.86 and its 200-day simple moving average is $186.72.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings data 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. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. During the same quarter in the previous year, the firm earned ($0.18) EPS. The company's quarterly revenue was up 26.4% compared to the same quarter last year. As a group, equities research analysts predict that Zscaler, Inc. will post -0.24 earnings per share for the current fiscal year.

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.