Private Advisor Group LLC Acquires 8,319 Shares of Zscaler, Inc. (NASDAQ:ZS)

Private Advisor Group LLC lifted its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 39.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 29,389 shares of the company’s stock after purchasing an additional 8,319 shares during the period. Private Advisor Group LLC’s holdings in Zscaler were worth $5,302,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fred Alger Management LLC raised its holdings in shares of Zscaler by 1,151.0% during the third quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock valued at $1,773,000 after acquiring an additional 9,542 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake 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 purchasing an additional 14,701 shares during the period. Nomura Asset Management Co. Ltd. grew its stake 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 purchasing an additional 37,801 shares during the period. Zweig DiMenna Associates LLC grew its stake 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 purchasing an additional 17,900 shares during the period. Finally, Baader Bank Aktiengesellschaft grew its stake in Zscaler by 30.3% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock worth $1,515,000 after purchasing an additional 1,952 shares during the period. Institutional investors own 46.45% of the company’s stock.

Zscaler Stock Performance

ZS stock opened at $198.56 on Friday. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $251.55. The business’s 50-day moving average is $195.38 and its two-hundred day moving average is $190.71. The company has a market cap of $30.47 billion, a price-to-earnings ratio of -794.24 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last posted its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. During the same quarter in the prior year, the company earned ($0.18) earnings per share. Zscaler’s revenue was up 26.4% on a year-over-year basis. Equities analysts predict that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Insider Buying and Selling at Zscaler

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 value of $737,578.24. Following the transaction, the insider now owns 142,866 shares of the company’s stock, valued at $28,618,917.12. This trade represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Remo Canessa sold 3,703 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 value of $741,784.96. Following the completion of the transaction, the chief financial officer now directly owns 220,635 shares in the company, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,248 shares of company stock valued at $2,052,879. 18.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on ZS. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 price target on shares of Zscaler in a research note on Tuesday, December 3rd. Morgan Stanley reduced their price target on Zscaler from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 3rd. Guggenheim reaffirmed a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. Canaccord Genuity Group upped their price target on Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, Jefferies Financial Group upped their price target on Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Eleven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $226.56.

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.