Charles Schwab Investment Management Inc. Boosts Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Charles Schwab Investment Management Inc. lifted its holdings in Zscaler, Inc. (NASDAQ:ZS) by 4.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 355,070 shares of the company’s stock after acquiring an additional 16,634 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Zscaler were worth $60,696,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale raised its stake in 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 purchasing an additional 14,701 shares during the last quarter. Creative Planning grew its stake 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 buying an additional 10,551 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Zscaler during the second quarter worth $25,287,000. Strategic Advisors LLC raised its holdings in 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 buying an additional 6,712 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Zscaler by 1,786.5% in the 3rd quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock worth $2,728,000 after acquiring an additional 14,274 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Activity

In related news, CEO Jagtar Singh Chaudhry sold 2,852 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 transaction of $488,490.56. Following the completion of the transaction, the chief executive officer now owns 361,432 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, insider Robert Schlossman sold 1,435 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the transaction, the insider now directly owns 105,806 shares in the company, valued at approximately $19,224,950.20. The trade was a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock worth $5,256,651 over the last quarter. 19.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ZS shares. Cantor Fitzgerald upgraded shares of Zscaler to a “hold” rating in a report on Monday, November 18th. Royal Bank of Canada restated an “outperform” rating and issued a $230.00 price target on shares of Zscaler in a research note on Wednesday, September 4th. Scotiabank dropped their price target on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating for the company in a research report on Wednesday, September 4th. Piper Sandler reduced their target price on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. Finally, Barclays boosted their target price on shares of Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Ten research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Zscaler has an average rating of “Moderate Buy” and a consensus price target of $221.13.

Zscaler Trading Up 0.8 %

NASDAQ ZS opened at $206.59 on Friday. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $259.61. The company has a fifty day simple moving average of $189.44 and a two-hundred day simple moving average of $184.50. The stock has a market cap of $31.70 billion, a P/E ratio of -516.46 and a beta of 0.82.

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

Zscaler Profile

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.