Insight Holdings Group LLC Increases Holdings in Zscaler, Inc. (NASDAQ:ZS)

Insight Holdings Group LLC boosted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 8.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,000 shares of the company’s stock after purchasing an additional 800 shares during the quarter. Zscaler comprises about 0.1% of Insight Holdings Group LLC’s portfolio, making the stock its 29th biggest position. Insight Holdings Group LLC’s holdings in Zscaler were worth $1,709,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. DekaBank Deutsche Girozentrale lifted its position in shares of Zscaler by 7.1% in the 3rd 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 period. 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 worth $1,773,000 after buying an additional 9,542 shares during the period. Creative Planning increased its holdings in shares of Zscaler by 7.6% in the 3rd quarter. Creative Planning now owns 148,534 shares of the company’s stock valued at $25,390,000 after acquiring an additional 10,551 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Zscaler in the 2nd quarter worth $25,287,000. Finally, Strategic Advisors LLC lifted its stake in shares of Zscaler by 470.0% during the 3rd quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock worth $1,391,000 after purchasing an additional 6,712 shares during the last quarter. 46.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ZS has been the topic of several analyst reports. Scotiabank lifted their target price on Zscaler from $195.00 to $205.00 and gave the company a “sector outperform” rating in a research note on Tuesday. Loop Capital cut their price target on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Oppenheimer lowered their price objective on Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Bank of America lowered Zscaler from a “buy” rating to a “neutral” rating and reduced their target price for the company from $265.00 to $195.00 in a research report on Wednesday, September 4th. Finally, Morgan Stanley decreased their price objective on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a research report on Tuesday. Ten research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, Zscaler currently has a consensus rating of “Moderate Buy” and an average target price of $222.66.

Insider Activity

In other news, insider Robert Schlossman sold 4,947 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $170.22, for a total value of $842,078.34. Following the transaction, the insider now directly owns 107,241 shares in the company, valued at approximately $18,254,563.02. This represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the transaction, the chief executive officer now owns 361,432 shares in the company, valued at approximately $61,906,072.96. This represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock valued at $5,256,651 in the last 90 days. Company insiders own 18.10% of the company’s stock.

Zscaler Price Performance

NASDAQ ZS traded down $13.31 during trading hours on Tuesday, hitting $195.20. 344,244 shares of the company’s stock traded hands, compared to its average volume of 2,016,214. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $259.61. The company has a market capitalization of $29.95 billion, a PE ratio of -487.99 and a beta of 0.82. The firm’s 50-day moving average is $190.12 and its 200-day moving average is $184.80.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.14. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. During the same quarter in the prior year, the company posted ($0.18) EPS. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. Equities research analysts predict that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

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.