Swedbank AB Boosts Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Swedbank AB raised its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 25.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,363 shares of the company’s stock after buying an additional 2,327 shares during the quarter. Swedbank AB’s holdings in Zscaler were worth $1,942,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in shares of Zscaler during the second quarter valued at approximately $28,000. Asset Dedication LLC boosted its stake in Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after purchasing an additional 166 shares during the last quarter. American Capital Advisory LLC bought a new stake in shares of Zscaler in the 2nd quarter worth $50,000. GAMMA Investing LLC raised its stake in shares of Zscaler by 103.2% in the first quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $61,000 after purchasing an additional 160 shares during the last quarter. Finally, Sanders Morris Harris LLC bought a new position in shares of Zscaler during the first quarter valued at $67,000. 46.45% of the stock is owned by institutional investors.

Insider Activity at Zscaler

In other news, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the sale, the insider now directly owns 105,806 shares in the company, valued at $19,224,950.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Remo Canessa sold 8,455 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $1,448,172.40. Following the completion of the sale, the chief financial officer now directly owns 231,793 shares in the company, valued at $39,701,505.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the transaction, the insider now directly owns 105,806 shares of the company’s stock, valued at $19,224,950.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,502 shares of company stock valued at $5,256,651. 19.20% of the stock is owned by corporate insiders.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $190.01 on Friday. The firm’s fifty day moving average is $180.78 and its two-hundred day moving average is $180.76. Zscaler, Inc. has a 52-week low of $152.60 and a 52-week high of $259.61. The company has a market cap of $28.72 billion, a P/E ratio of -372.57 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. During the same period in the previous year, the business earned ($0.17) earnings per share. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. As a group, analysts forecast that Zscaler, Inc. will post -0.95 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Needham & Company LLC decreased their target price on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating for the company in a research report on Wednesday, September 4th. Bank of America cut shares of Zscaler from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $265.00 to $195.00 in a report on Wednesday, September 4th. Wedbush dropped their target price on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. BNP Paribas assumed coverage on shares of Zscaler in a research note on Tuesday, October 8th. They set a “neutral” rating and a $180.00 target price for the company. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $190.00 price target on shares of Zscaler in a research note on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $216.97.

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.