SouthState Corp Raises Stock Position in Zscaler, Inc. (NASDAQ:ZS)

SouthState Corp lifted its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 15.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 26,568 shares of the company's stock after buying an additional 3,487 shares during the quarter. SouthState Corp's holdings in Zscaler were worth $4,542,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Quest Partners LLC bought a new position in Zscaler during the second quarter valued at approximately $28,000. Asset Dedication LLC raised its position in shares of Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company's stock valued at $39,000 after purchasing an additional 166 shares during the period. American Capital Advisory LLC bought a new position in shares of Zscaler in the second quarter valued at approximately $50,000. GAMMA Investing LLC raised its position in shares of Zscaler by 21.3% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company's stock valued at $73,000 after purchasing an additional 67 shares during the period. Finally, Quarry LP raised its position in shares of Zscaler by 613.0% in the second quarter. Quarry LP now owns 385 shares of the company's stock valued at $74,000 after purchasing an additional 331 shares during the period. 46.45% of the stock is currently owned by institutional investors.

Insider Transactions at Zscaler

In related news, insider Michael J. Rich sold 4,813 shares of the firm'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 $824,370.64. Following the completion of the sale, the insider now owns 103,259 shares in the company, valued at $17,686,201.52. This trade represents a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Schlossman sold 1,435 shares of the firm's stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the sale, the insider now owns 105,806 shares of the company's stock, valued at approximately $19,224,950.20. The trade was a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,502 shares of company stock worth $5,256,651. Company insiders own 19.20% of the company's stock.

Zscaler Trading Up 0.7 %

ZS traded up $1.51 during trading hours on Tuesday, reaching $204.36. The company's stock had a trading volume of 1,093,265 shares, compared to its average volume of 2,023,761. The business's 50-day moving average is $183.11 and its 200-day moving average is $182.84. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) 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 company had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. Zscaler's revenue for the quarter was up 30.3% on a year-over-year basis. As a group, equities research analysts expect that Zscaler, Inc. will post -0.97 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ZS. Oppenheimer dropped their target price 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. JMP Securities reiterated a "market outperform" rating and set a $270.00 price target on shares of Zscaler in a research note on Monday, November 4th. Scotiabank decreased their price target on shares of Zscaler from $210.00 to $195.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. dropped their price objective on Zscaler from $230.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, September 4th. Finally, BTIG Research lowered their price target on Zscaler from $220.00 to $205.00 and set a "buy" rating for the company in a research note on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Zscaler has an average rating of "Moderate Buy" and a consensus target price of $217.18.

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.