Lewis Asset Management LLC Makes New Investment in Zscaler, Inc. (NASDAQ:ZS)

Lewis Asset Management LLC acquired a new stake in Zscaler, Inc. (NASDAQ:ZS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,145 shares of the company’s stock, valued at approximately $207,000.

Other large investors have also made changes to their positions in the company. Prestige Wealth Management Group LLC purchased a new stake in shares of Zscaler in the third quarter valued at $31,000. True Wealth Design LLC increased its stake in shares of Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after acquiring an additional 185 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Zscaler by 136.8% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 104 shares during the period. Modus Advisors LLC acquired a new stake in shares of Zscaler in the fourth quarter worth approximately $36,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Zscaler during the third quarter worth approximately $38,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Stock Performance

NASDAQ ZS opened at $201.63 on Thursday. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $259.61. The stock’s 50-day moving average price is $194.83 and its two-hundred day moving average price is $187.81.

Zscaler (NASDAQ:ZS) last announced its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.14. The company had revenue of $628.00 million for 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 was up 26.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.18) EPS. As a group, equities analysts expect that Zscaler, Inc. will post -0.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on ZS. Jefferies Financial Group lifted their price objective on shares of Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 target price on shares of Zscaler in a research report on Tuesday, December 3rd. Cantor Fitzgerald raised Zscaler to a “hold” rating in a report on Monday, November 18th. Finally, Scotiabank upped their target price on Zscaler from $205.00 to $225.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. Eleven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, Zscaler has a consensus rating of “Moderate Buy” and a consensus price target of $225.47.

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.