Westfield Capital Management Co. LP Purchases 100,814 Shares of Zscaler, Inc. (NASDAQ:ZS)

Westfield Capital Management Co. LP boosted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 33.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 399,516 shares of the company’s stock after acquiring an additional 100,814 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Zscaler were worth $68,293,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in shares of Zscaler by 8.6% during the second quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock worth $149,000 after purchasing an additional 66 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Zscaler by 21.3% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after buying an additional 67 shares in the last quarter. American Trust boosted its position in Zscaler by 6.1% in the 2nd quarter. American Trust now owns 1,210 shares of the company’s stock valued at $233,000 after buying an additional 70 shares during the period. Valley Brook Capital Group Inc. grew its stake in Zscaler by 4.0% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 1,972 shares of the company’s stock worth $337,000 after acquiring an additional 75 shares in the last quarter. Finally, Swedbank AB increased its position in shares of Zscaler by 0.8% during the second quarter. Swedbank AB now owns 9,036 shares of the company’s stock worth $1,737,000 after acquiring an additional 76 shares during the period. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Stifel Nicolaus increased their price objective on Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Morgan Stanley increased their price target on Zscaler from $202.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. decreased 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. Cantor Fitzgerald upgraded shares of Zscaler to a “hold” rating in a report on Monday, November 18th. Finally, Wells Fargo & Company reduced their price target on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.55.

Insider Activity at Zscaler

In other Zscaler news, insider Michael J. Rich sold 4,813 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 transaction of $824,370.64. Following the sale, the insider now directly owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. This trade represents a 4.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction dated 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 of the company’s stock, valued at $19,224,950.20. The trade was a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock worth $5,256,651 over the last quarter. Insiders own 19.20% of the company’s stock.

Zscaler Trading Up 1.8 %

NASDAQ:ZS opened at $210.96 on Friday. The firm has a fifty day simple moving average of $186.49 and a 200-day simple moving average of $183.60. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The company had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm’s revenue was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.17) EPS. On average, sell-side analysts predict that Zscaler, Inc. will post -0.95 earnings per share for the current year.

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.