Wealth Enhancement Advisory Services LLC Grows Position in Zscaler, Inc. (NASDAQ:ZS)

Wealth Enhancement Advisory Services LLC increased its position in Zscaler, Inc. (NASDAQ:ZS) by 1.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 11,666 shares of the company’s stock after purchasing an additional 151 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Zscaler were worth $1,994,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in Zscaler by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock valued at $277,327,000 after buying an additional 60,414 shares during the last quarter. Champlain Investment Partners LLC raised its position in shares of Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after purchasing an additional 283,540 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in Zscaler by 33.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after purchasing an additional 100,814 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Zscaler by 11.0% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after purchasing an additional 37,801 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Zscaler by 4.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock valued at $60,696,000 after purchasing an additional 16,634 shares in the last quarter. Institutional investors own 46.45% of the company’s stock.

Insiders Place Their Bets

In other news, insider Syam Nair sold 3,682 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $737,578.24. Following the completion of the transaction, the insider now owns 142,866 shares in the company, valued at $28,618,917.12. This trade represents a 2.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the sale, the chief executive officer now owns 358,569 shares in the company, valued at $71,828,542.08. This represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,248 shares of company stock worth $2,052,879 in the last three months. 18.10% of the stock is owned by company insiders.

Analyst Ratings Changes

ZS has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 3rd. Scotiabank increased their target price on Zscaler from $195.00 to $205.00 and gave the company a “sector outperform” rating in a research note on Tuesday, December 3rd. BMO Capital Markets boosted their price target on Zscaler from $197.00 to $222.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 price target on shares of Zscaler in a report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Eleven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $224.84.

Zscaler Stock Performance

ZS opened at $184.69 on Wednesday. The stock has a market cap of $28.34 billion, a price-to-earnings ratio of -738.76 and a beta of 0.87. The firm’s fifty day moving average is $196.90 and its 200 day moving average is $188.24. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61.

Zscaler (NASDAQ:ZS) last announced 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 0.75% and a negative net margin of 1.58%. The business had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. During the same period in the previous year, the business earned ($0.18) earnings per share. The business’s revenue was up 26.4% on a year-over-year basis. On average, equities research analysts predict that Zscaler, Inc. will post -0.24 earnings per share for the current year.

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.