Perpetual Ltd Takes Position in Zscaler, Inc. (NASDAQ:ZS)

Perpetual Ltd acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 4,512 shares of the company’s stock, valued at approximately $814,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ZS. Geode Capital Management LLC increased its stake in Zscaler by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock worth $277,327,000 after purchasing an additional 60,414 shares during the period. Champlain Investment Partners LLC grew its stake in Zscaler by 28.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after purchasing an additional 283,540 shares in the last quarter. Westfield Capital Management Co. LP increased its holdings in Zscaler by 33.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after purchasing an additional 100,814 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Zscaler by 11.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after buying an additional 37,801 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Zscaler by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock worth $60,696,000 after buying an additional 16,634 shares in the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZS has been the subject of several analyst reports. Piper Sandler boosted their price target on shares of Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. boosted their target price on shares of Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Barclays lifted their price target on Zscaler from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. BNP Paribas initiated coverage on Zscaler in a research report on Tuesday, October 8th. They set a “neutral” rating and a $180.00 target price on the stock. Finally, Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a research note on Monday, November 18th. Eleven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.47.

Insider Activity

In related news, CFO Remo Canessa sold 3,703 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the sale, the chief financial officer now owns 220,635 shares in the company, valued at approximately $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the transaction, the insider now owns 142,866 shares of the company’s stock, valued at $28,618,917.12. This trade represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,248 shares of company stock worth $2,052,879 over the last 90 days. 18.10% of the stock is currently owned by corporate insiders.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $192.93 on Thursday. Zscaler, Inc. has a one year low of $153.45 and a one year high of $259.61. The firm has a market capitalization of $29.60 billion, a P/E ratio of -771.72 and a beta of 0.87. The company’s fifty day moving average is $195.52 and its two-hundred day moving average is $187.88.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The company had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The company’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period last year, the firm earned ($0.18) EPS. On average, sell-side analysts forecast that Zscaler, Inc. will post -0.16 earnings per share for the current fiscal 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.