Handelsbanken Fonder AB Boosts Stake in Zscaler, Inc. (NASDAQ:ZS)

Handelsbanken Fonder AB increased its position in Zscaler, Inc. (NASDAQ:ZS) by 34.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,843 shares of the company’s stock after buying an additional 7,728 shares during the period. Handelsbanken Fonder AB’s holdings in Zscaler were worth $6,612,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC purchased a new stake in Zscaler during the fourth quarter valued at approximately $9,674,000. Nordea Investment Management AB raised its holdings in shares of Zscaler by 463.5% in the fourth quarter. Nordea Investment Management AB now owns 29,803 shares of the company’s stock worth $6,629,000 after buying an additional 24,514 shares during the period. Vanguard Group Inc. raised its holdings in shares of Zscaler by 1.5% in the third quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock worth $1,343,810,000 after buying an additional 129,090 shares during the period. AQR Capital Management LLC raised its holdings in shares of Zscaler by 272.6% in the third quarter. AQR Capital Management LLC now owns 41,894 shares of the company’s stock worth $6,518,000 after buying an additional 30,650 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in shares of Zscaler by 19,012.4% in the fourth quarter. International Assets Investment Management LLC now owns 223,997 shares of the company’s stock worth $49,629,000 after buying an additional 222,825 shares during the period. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JMP Securities reiterated a “market outperform” rating and issued a $270.00 price target on shares of Zscaler in a report on Friday, March 1st. Macquarie reiterated an “outperform” rating and issued a $245.00 price target on shares of Zscaler in a report on Tuesday, March 19th. The Goldman Sachs Group increased their price objective on Zscaler from $189.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Oppenheimer increased their price objective on Zscaler from $245.00 to $290.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. Finally, Wedbush increased their price objective on Zscaler from $250.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Five research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $230.24.

Insider Buying and Selling

In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the completion of the transaction, the chief executive officer now owns 367,152 shares of the company’s stock, valued at approximately $70,915,408.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the completion of the transaction, the chief executive officer now owns 367,152 shares of the company’s stock, valued at approximately $70,915,408.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Remo Canessa sold 7,707 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $1,488,607.05. Following the completion of the transaction, the chief financial officer now directly owns 255,943 shares of the company’s stock, valued at approximately $49,435,390.45. The disclosure for this sale can be found here. Insiders sold 26,715 shares of company stock worth $5,865,882 in the last 90 days. Insiders own 19.20% of the company’s stock.

Zscaler Stock Performance

Shares of ZS opened at $174.81 on Friday. Zscaler, Inc. has a 12 month low of $84.93 and a 12 month high of $259.61. The stock has a fifty day moving average price of $200.02 and a 200-day moving average price of $203.19. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.19. The firm has a market cap of $26.20 billion, a PE ratio of -184.01 and a beta of 0.80.

Zscaler (NASDAQ:ZS) last issued its earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.08. The company had revenue of $525.00 million during the quarter, compared to analyst estimates of $507.56 million. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. Equities research analysts predict that Zscaler, Inc. will post -0.8 earnings per share for the current fiscal year.

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.