Olympiad Research LP Makes New $357,000 Investment in Zscaler, Inc. (NASDAQ:ZS)

Olympiad Research LP acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,091 shares of the company’s stock, valued at approximately $357,000.

Several other hedge funds also recently added to or reduced their stakes in ZS. State Board of Administration of Florida Retirement System boosted its stake in Zscaler by 6.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company’s stock valued at $20,021,000 after purchasing an additional 6,683 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Zscaler by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock valued at $22,478,000 after purchasing an additional 9,689 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Zscaler by 7.1% during the 3rd 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 during the period. Creative Planning boosted its stake in Zscaler by 7.6% during the 3rd 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 during the period. Finally, Massachusetts Financial Services Co. MA acquired a new position in Zscaler during the 2nd quarter valued at about $25,287,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Stock Performance

Shares of Zscaler stock opened at $196.71 on Friday. The firm has a fifty day simple moving average of $179.14 and a 200-day simple moving average of $181.35. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same period in the previous year, the company earned ($0.17) earnings per share. Zscaler’s revenue for the quarter was up 30.3% on a year-over-year basis. Equities research analysts anticipate that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and set a $220.00 target price on shares of Zscaler in a research note on Wednesday, September 4th. UBS Group dropped their price target on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Oppenheimer dropped their price target on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Rosenblatt Securities restated a “neutral” rating and set a $190.00 price target on shares of Zscaler in a research report on Wednesday, September 4th. Finally, Needham & Company LLC dropped their price target on shares of Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $216.73.

Insider Transactions at Zscaler

In related news, 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 directly owns 105,806 shares in the company, valued at $19,224,950.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Remo Canessa sold 8,455 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the completion of the transaction, the chief financial officer now owns 231,793 shares in the company, valued at approximately $39,701,505.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is owned by insiders.

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.