Chicago Partners Investment Group LLC Acquires New Holdings in Zscaler, Inc. (NASDAQ:ZS)

Chicago Partners Investment Group LLC acquired a new stake in shares of Zscaler, Inc. (NASDAQ:ZS) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,574 shares of the company’s stock, valued at approximately $295,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ZS. Fred Alger Management LLC raised its position in Zscaler by 1,151.0% in the third quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock worth $1,773,000 after acquiring an additional 9,542 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in Zscaler by 7.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock worth $37,495,000 after acquiring an additional 14,701 shares in the last quarter. Creative Planning raised its position in Zscaler by 7.6% in the third quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after acquiring an additional 10,551 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in Zscaler by 11.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after acquiring an additional 37,801 shares in the last quarter. Finally, Zweig DiMenna Associates LLC raised its position in Zscaler by 29.8% in the fourth quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock worth $14,061,000 after acquiring an additional 17,900 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

Zscaler Trading Up 1.9 %

ZS opened at $203.73 on Wednesday. The stock has a market cap of $31.26 billion, a PE ratio of -814.92 and a beta of 0.89. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $259.61. The stock’s 50 day simple moving average is $194.24 and its 200-day simple moving average is $187.92.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The business had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. Zscaler’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.18) earnings per share. Equities analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

ZS has been the topic of several research reports. Piper Sandler boosted their price target on shares of Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. JMP Securities reissued a “market outperform” rating and issued a $240.00 price target (down previously from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. BNP Paribas assumed coverage on Zscaler in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price target on the stock. Finally, Wells Fargo & Company lifted their price target on Zscaler from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, Zscaler has a consensus rating of “Moderate Buy” and an average target price of $225.47.

Insider Activity

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the sale, the chief financial officer now directly owns 220,635 shares in the company, valued at $44,197,603.20. This represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Syam Nair sold 3,682 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,248 shares of company stock worth $2,052,879. Company insiders own 18.10% of the company’s stock.

Zscaler Company 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.