Readystate Asset Management LP Has $11.22 Million Holdings in Zscaler, Inc. (NASDAQ:ZS)

Readystate Asset Management LP raised its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 123.2% during the third quarter, HoldingsChannel.com reports. The firm owned 65,611 shares of the company’s stock after acquiring an additional 36,221 shares during the quarter. Readystate Asset Management LP’s holdings in Zscaler were worth $11,216,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Fred Alger Management LLC lifted its position in Zscaler by 1,151.0% during the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock valued at $1,773,000 after purchasing an additional 9,542 shares during the period. DekaBank Deutsche Girozentrale raised 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 valued at $37,495,000 after acquiring an additional 14,701 shares during the period. Creative Planning raised its position 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 acquired a new stake in shares of Zscaler in the 2nd quarter valued at approximately $25,287,000. Finally, Strategic Advisors LLC raised its position in shares of Zscaler by 470.0% in the 3rd quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock valued at $1,391,000 after acquiring an additional 6,712 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zscaler

In other Zscaler news, Director Andrew William Fraser Brown sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the completion of the sale, the director now owns 25,907 shares of the company’s stock, valued at $4,510,408.70. This trade represents a 23.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the sale, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at $61,906,072.96. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock valued at $5,256,651 in the last quarter. 18.10% of the stock is currently owned by insiders.

Zscaler Price Performance

NASDAQ ZS opened at $206.36 on Thursday. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $259.61. The stock has a 50 day moving average of $191.28 and a 200-day moving average of $185.15.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.63 by $0.14. Zscaler had a negative return on equity of 0.80% and a negative net margin of 1.58%. The company had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. During the same quarter in the prior year, the firm posted ($0.18) EPS. The firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. As a group, equities analysts expect that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wedbush cut their price target on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Scotiabank increased their price target on shares of Zscaler from $195.00 to $205.00 and gave the company a “sector outperform” rating in a research report on Tuesday. Loop Capital cut their price target on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a research report on Tuesday. BTIG Research increased their price target on shares of Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, KeyCorp increased their target price on Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday. Eleven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $224.84.

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.