Zscaler, Inc. (NASDAQ:ZS) Shares Bought by Cynosure Group LLC

Cynosure Group LLC lifted its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 4.4% during the third quarter, HoldingsChannel.com reports. The firm owned 2,131 shares of the company’s stock after purchasing an additional 89 shares during the period. Cynosure Group LLC’s holdings in Zscaler were worth $364,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. DekaBank Deutsche Girozentrale raised its holdings in Zscaler by 7.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock worth $37,495,000 after purchasing an additional 14,701 shares during the last quarter. Creative Planning raised its stake in shares of Zscaler by 7.6% during the 3rd quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after buying an additional 10,551 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Zscaler in the 2nd quarter worth about $25,287,000. Strategic Advisors LLC grew its stake in Zscaler by 470.0% in the 3rd quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock valued at $1,391,000 after acquiring an additional 6,712 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Zscaler by 1,786.5% during the 3rd quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock valued at $2,728,000 after acquiring an additional 14,274 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on ZS shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price target on shares of Zscaler in a research report on Wednesday, September 4th. BMO Capital Markets lowered their target price on Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Susquehanna reissued a “positive” rating and issued a $210.00 price target on shares of Zscaler in a report on Thursday, September 5th. KeyCorp increased their price objective on Zscaler from $220.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, BTIG Research boosted their target price on shares of Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $220.48.

Zscaler Trading Down 2.5 %

ZS opened at $204.96 on Friday. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $259.61. The company has a 50 day moving average of $188.79 and a two-hundred day moving average of $184.36.

Zscaler (NASDAQ:ZS) last announced its quarterly 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. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The firm had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same period in the prior year, the company earned ($0.17) EPS. The firm’s revenue was up 30.3% on a year-over-year basis. On average, research analysts expect that Zscaler, Inc. will post -0.95 EPS for the current fiscal year.

Insider Activity

In other Zscaler news, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the transaction, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. The trade was a 1.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Remo Canessa sold 8,455 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 $1,448,172.40. Following the sale, the chief financial officer now owns 231,793 shares of the company’s stock, valued at $39,701,505.04. This represents a 3.52 % decrease in their ownership of the stock. 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. 19.20% of the stock is currently owned by corporate insiders.

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.