Klingenstein Fields & Co. LP Boosts Stake in Zscaler, Inc. (NASDAQ:ZS)

Klingenstein Fields & Co. LP increased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,026 shares of the company’s stock after purchasing an additional 4,660 shares during the period. Klingenstein Fields & Co. LP’s holdings in Zscaler were worth $16,073,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC boosted its position in shares of Zscaler by 13,498.6% in the 3rd quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock worth $48,769,000 after buying an additional 283,201 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Zscaler in the first quarter valued at $47,217,000. GuoLine Advisory Pte Ltd acquired a new position in shares of Zscaler in the 3rd quarter valued at about $32,660,000. Jupiter Asset Management Ltd. acquired a new stake in Zscaler in the 1st quarter valued at $27,954,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Zscaler in the second quarter valued at about $25,287,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Activity at Zscaler

In other news, CFO Remo Canessa sold 8,455 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the completion of the transaction, the chief financial officer now directly owns 231,793 shares in the company, valued at $39,701,505.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Zscaler news, insider Michael J. Rich sold 4,813 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $824,370.64. Following the sale, the insider now owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Remo Canessa sold 8,455 shares of the stock in a transaction dated Tuesday, September 17th. The stock was 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $5,256,651 over the last three months. Company insiders own 19.20% of the company’s stock.

Zscaler Trading Down 0.3 %

NASDAQ:ZS opened at $182.00 on Monday. The stock’s 50-day moving average is $179.63 and its 200-day moving average is $180.90. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61. The stock has a market cap of $27.75 billion, a P/E ratio of -456.46 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $592.90 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.17) EPS. As a group, equities analysts forecast that Zscaler, Inc. will post -0.95 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Cantor Fitzgerald cut their price target on Zscaler from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Citigroup cut their target price on Zscaler from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Barclays reduced their price objective on Zscaler from $230.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. BMO Capital Markets reduced their price target on shares of Zscaler from $208.00 to $197.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Finally, Wedbush cut their price target on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.73.

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.