Zscaler, Inc. (NASDAQ:ZS) Shares Bought by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC boosted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 21.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,874 shares of the company’s stock after acquiring an additional 695 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Zscaler were worth $662,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZS. Fred Alger Management LLC lifted its holdings in Zscaler by 1,151.0% during the third quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock valued at $1,773,000 after purchasing an additional 9,542 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Zscaler by 7.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock valued at $37,495,000 after purchasing an additional 14,701 shares in the last quarter. Creative Planning lifted its holdings in Zscaler by 7.6% during the third quarter. Creative Planning now owns 148,534 shares of the company’s stock valued at $25,390,000 after purchasing an additional 10,551 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Zscaler during the second quarter valued at $25,287,000. Finally, Strategic Advisors LLC lifted its holdings in Zscaler by 470.0% during the third quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock valued at $1,391,000 after purchasing an additional 6,712 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insider Buying and Selling at Zscaler

In other news, Director Andrew William Fraser Brown sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the transaction, the director now owns 25,907 shares in the company, valued at approximately $4,510,408.70. This represents a 23.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert Schlossman sold 1,435 shares of the company’s stock in a transaction on 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 transaction, 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. In the last three months, insiders have sold 30,502 shares of company stock valued at $5,256,651. Insiders own 18.10% of the company’s stock.

Zscaler Stock Performance

Shares of ZS stock opened at $206.36 on Friday. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The stock has a market capitalization of $31.66 billion, a P/E ratio of -825.44 and a beta of 0.82. The company has a 50 day moving average price of $196.36 and a 200 day moving average price of $186.54.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating 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 company had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. During the same period in the prior year, the firm posted ($0.18) EPS. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, research analysts forecast that Zscaler, Inc. will post -0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on ZS shares. Citigroup increased their price objective on shares of Zscaler from $230.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and issued a $240.00 price target (down from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Guggenheim reaffirmed a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. Bank of America downgraded shares of Zscaler from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $265.00 to $195.00 in a research note on Wednesday, September 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $240.00 target price on shares of Zscaler in a research note on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $224.84.

Zscaler 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.