Jupiter Asset Management Ltd. Makes New $27.95 Million Investment in Zscaler, Inc. (NASDAQ:ZS)

Jupiter Asset Management Ltd. purchased a new stake in Zscaler, Inc. (NASDAQ:ZS) in the first quarter, Holdings Channel reports. The firm purchased 145,119 shares of the company’s stock, valued at approximately $27,954,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ZS. Sierra Summit Advisors LLC purchased a new position in Zscaler during the fourth quarter worth about $5,609,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Zscaler during the 4th quarter valued at approximately $9,674,000. Nordea Investment Management AB lifted its holdings in Zscaler by 463.5% in the fourth quarter. Nordea Investment Management AB now owns 29,803 shares of the company’s stock valued at $6,629,000 after acquiring an additional 24,514 shares during the last quarter. Norges Bank purchased a new position in Zscaler in the fourth quarter worth approximately $117,599,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Zscaler by 9.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock worth $22,478,000 after acquiring an additional 9,689 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ZS shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $208.00 price target on shares of Zscaler in a research note on Friday, June 14th. JPMorgan Chase & Co. upgraded shares of Zscaler from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $205.00 to $230.00 in a research report on Friday, June 14th. Cantor Fitzgerald reissued a “neutral” rating and issued a $200.00 price target on shares of Zscaler in a research note on Friday, June 21st. Citigroup lowered their price objective on shares of Zscaler from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $190.00 target price on shares of Zscaler in a research report on Tuesday, May 28th. Seven equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and a consensus price target of $225.21.

Zscaler Stock Down 1.0 %

ZS traded down $1.83 on Friday, reaching $188.54. The company’s stock had a trading volume of 1,624,916 shares, compared to its average volume of 1,992,028. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. Zscaler, Inc. has a fifty-two week low of $131.59 and a fifty-two week high of $259.61. The stock has a 50 day moving average of $183.72 and a two-hundred day moving average of $200.31. The company has a market capitalization of $28.50 billion, a price-to-earnings ratio of -369.69 and a beta of 0.85.

Zscaler (NASDAQ:ZS) last issued its earnings results on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.39. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The business had revenue of $553.20 million during the quarter, compared to analysts’ expectations of $535.55 million. As a group, analysts forecast that Zscaler, Inc. will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Remo Canessa sold 7,981 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.21, for a total value of $1,414,313.01. Following the completion of the sale, the chief financial officer now directly owns 243,486 shares of the company’s stock, valued at approximately $43,148,154.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate 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.