Zscaler, Inc. (NASDAQ:ZS) Stake Lifted by Investment Management Corp of Ontario

Investment Management Corp of Ontario increased its stake in Zscaler, Inc. (NASDAQ:ZS) by 47.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,098 shares of the company’s stock after acquiring an additional 1,000 shares during the period. Investment Management Corp of Ontario’s holdings in Zscaler were worth $530,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quest Partners LLC bought a new stake in Zscaler during the second quarter worth approximately $28,000. True Wealth Design LLC boosted its holdings in Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after buying an additional 185 shares in the last quarter. Asset Dedication LLC boosted its holdings in Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after buying an additional 166 shares in the last quarter. American Capital Advisory LLC bought a new stake in Zscaler during the second quarter worth approximately $50,000. Finally, Quarry LP boosted its holdings in Zscaler by 613.0% during the second quarter. Quarry LP now owns 385 shares of the company’s stock worth $74,000 after buying an additional 331 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

Zscaler Trading Up 3.1 %

Zscaler stock opened at $211.99 on Friday. The company has a market capitalization of $32.53 billion, a P/E ratio of -847.96 and a beta of 0.82. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61. The firm’s fifty day simple moving average is $193.47 and its 200-day simple moving average is $185.71.

Zscaler (NASDAQ:ZS) last announced its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.63 by $0.14. The firm 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 0.80%. The business’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.18) EPS. On average, equities research analysts predict that Zscaler, Inc. will post -0.31 earnings per share for the current year.

Insider Buying and Selling

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were 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 in the company, valued at $61,906,072.96. This trade represents a 0.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert Schlossman sold 4,947 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 107,241 shares in the company, valued at $18,254,563.02. This represents a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $5,256,651 in the last quarter. 18.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ZS. JPMorgan Chase & Co. raised their target price on shares of Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. BMO Capital Markets raised their price objective on shares of Zscaler from $197.00 to $222.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Robert W. Baird decreased their price objective on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Guggenheim reaffirmed a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Zscaler in a research note on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and a consensus target price 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.