Harvest Fund Management Co. Ltd Acquires 994 Shares of Zscaler, Inc. (NASDAQ:ZS)

Harvest Fund Management Co. Ltd boosted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 16.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,962 shares of the company’s stock after buying an additional 994 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Zscaler were worth $1,190,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Champlain Investment Partners LLC boosted its stake in Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after buying an additional 283,540 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Zscaler by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after purchasing an additional 25,181 shares during the period. Westfield Capital Management Co. LP raised its holdings in shares of Zscaler by 33.8% in the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after acquiring an additional 100,814 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Zscaler by 18.3% in the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock valued at $75,857,000 after acquiring an additional 61,037 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Zscaler by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock valued at $60,696,000 after acquiring an additional 16,634 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Robert Schlossman sold 4,947 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the transaction, the insider now owns 107,241 shares in the company, valued at $18,254,563.02. This trade represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Remo Canessa sold 8,455 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 231,793 shares in the company, valued at $39,701,505.04. This trade represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,502 shares of company stock worth $5,256,651. Corporate insiders own 19.20% of the company’s stock.

Zscaler Stock Performance

Zscaler stock opened at $210.42 on Tuesday. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $259.61. The stock’s 50 day simple moving average is $187.27 and its two-hundred day simple moving average is $183.96.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. During the same quarter in the prior year, the firm posted ($0.17) EPS. The business’s quarterly revenue was up 30.3% compared to the same quarter last year. As a group, equities research analysts expect that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ZS. Robert W. Baird decreased their price objective on Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Piper Sandler decreased their price objective on Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, September 4th. BMO Capital Markets decreased their price objective on Zscaler from $208.00 to $197.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Citigroup decreased their price objective on Zscaler from $240.00 to $230.00 and set a “buy” rating for the company in a report on Friday, October 4th. Finally, Barclays boosted their target price on shares of Zscaler from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Ten equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $218.55.

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.