775 Shares in Zscaler, Inc. (NASDAQ:ZS) Acquired by Eastern Bank

Eastern Bank bought a new stake in Zscaler, Inc. (NASDAQ:ZS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 775 shares of the company’s stock, valued at approximately $132,000.

A number of other hedge funds have also modified their holdings of the company. Quest Partners LLC purchased a new position in shares of Zscaler during the second quarter worth $28,000. Asset Dedication LLC grew its stake in shares of Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares during the period. American Capital Advisory LLC purchased a new position in shares of Zscaler during the 2nd quarter valued at approximately $50,000. GAMMA Investing LLC lifted its stake in shares of Zscaler by 21.3% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after purchasing an additional 67 shares during the period. 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 owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now directly owns 105,806 shares in the company, valued at $19,224,950.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the sale, the director now directly owns 25,907 shares in the company, valued at approximately $4,510,408.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the transaction, the insider now owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This trade represents a 0.00 % 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 over the last ninety days. Corporate insiders own 19.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ZS shares. Rosenblatt Securities reiterated a “neutral” rating and issued a $190.00 price objective on shares of Zscaler in a research report on Wednesday, September 4th. BMO Capital Markets dropped their price objective on Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. reduced their target price on Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, September 4th. BTIG Research dropped their price target on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Finally, Raymond James started coverage on shares of Zscaler in a research report on Tuesday, July 23rd. They set a “market perform” rating for the company. Ten equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and a consensus target price of $216.73.

Zscaler Stock Up 1.6 %

Shares of Zscaler stock opened at $183.93 on Friday. The firm has a market cap of $27.80 billion, a PE ratio of -360.65 and a beta of 0.82. Zscaler, Inc. has a 52 week low of $152.60 and a 52 week high of $259.61. The business’s fifty day simple moving average is $181.06 and its 200-day simple moving average is $180.75.

Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The company had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. During the same quarter in the prior year, the company posted ($0.17) earnings per share. Zscaler’s revenue for the quarter was up 30.3% 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.

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.