Pitcairn Co. Acquires New Stake in Zscaler, Inc. (NASDAQ:ZS)

Pitcairn Co. bought a new position in Zscaler, Inc. (NASDAQ:ZS) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,191 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its holdings in Zscaler by 59.8% in the 1st quarter. Advisors Asset Management Inc. now owns 2,229 shares of the company’s stock valued at $429,000 after acquiring an additional 834 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Zscaler by 11.8% in the 1st quarter. Janus Henderson Group PLC now owns 9,121 shares of the company’s stock worth $1,757,000 after purchasing an additional 963 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in Zscaler by 3.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 3,761 shares of the company’s stock valued at $724,000 after purchasing an additional 111 shares during the last quarter. Tidal Investments LLC boosted its holdings in Zscaler by 7.4% during the first quarter. Tidal Investments LLC now owns 4,938 shares of the company’s stock worth $951,000 after buying an additional 341 shares in the last quarter. Finally, Plato Investment Management Ltd grew its position in Zscaler by 1,176.3% in the first quarter. Plato Investment Management Ltd now owns 4,365 shares of the company’s stock worth $841,000 after buying an additional 4,023 shares during the last quarter. 46.45% of the stock is owned by institutional investors.

Zscaler Price Performance

NASDAQ ZS opened at $204.96 on Thursday. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The stock’s 50-day moving average is $188.06 and its two-hundred day moving average is $184.21. The firm has a market cap of $31.45 billion, a P/E ratio of -512.39 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The business had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm’s revenue was up 30.3% compared to the same quarter last year. During the same period last year, the business earned ($0.17) EPS. On average, equities analysts expect that Zscaler, Inc. will post -0.95 EPS for the current year.

Insider Transactions at Zscaler

In related news, CFO Remo Canessa sold 8,455 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the transaction, the chief financial officer now owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. The trade was a 3.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert Schlossman sold 1,435 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the sale, the insider now directly owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Jefferies Financial Group increased their price objective on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday. JMP Securities reaffirmed a “market outperform” rating and set a $270.00 target price on shares of Zscaler in a report on Monday, November 4th. Wells Fargo & Company dropped their price target on Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 4th. Stifel Nicolaus upped their price objective on shares of Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Robert W. Baird decreased their target price on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $220.29.

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.