Harvest Fund Management Co. Ltd Has $499,000 Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Harvest Fund Management Co. Ltd grew its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 49.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,257 shares of the company’s stock after purchasing an additional 749 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Zscaler were worth $499,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. increased its holdings in Zscaler by 1.7% in the third quarter. B. Riley Wealth Advisors Inc. now owns 3,761 shares of the company’s stock worth $585,000 after purchasing an additional 63 shares in the last quarter. Xponance Inc. increased its holdings in Zscaler by 0.6% in the third quarter. Xponance Inc. now owns 12,411 shares of the company’s stock worth $1,931,000 after purchasing an additional 68 shares in the last quarter. Lindbrook Capital LLC increased its holdings in Zscaler by 41.1% in the fourth quarter. Lindbrook Capital LLC now owns 237 shares of the company’s stock worth $53,000 after purchasing an additional 69 shares in the last quarter. CWM LLC increased its holdings in Zscaler by 13.8% in the third quarter. CWM LLC now owns 637 shares of the company’s stock worth $99,000 after purchasing an additional 77 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in Zscaler by 2.6% in the third quarter. M&T Bank Corp now owns 3,079 shares of the company’s stock worth $479,000 after purchasing an additional 79 shares in the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Syam Nair sold 2,893 shares of Zscaler stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $558,782.95. Following the transaction, the insider now directly owns 137,294 shares of the company’s stock, valued at $26,518,336.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Zscaler news, CFO Remo Canessa sold 7,707 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $1,488,607.05. Following the sale, the chief financial officer now owns 255,943 shares of the company’s stock, valued at approximately $49,435,390.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Syam Nair sold 2,893 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $558,782.95. Following the completion of the sale, the insider now owns 137,294 shares in the company, valued at $26,518,336.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,715 shares of company stock worth $5,865,882. 19.20% of the stock is owned by corporate insiders.

Zscaler Trading Up 0.3 %

Shares of ZS stock traded up $0.54 during trading on Wednesday, hitting $177.46. 1,360,891 shares of the stock traded hands, compared to its average volume of 2,245,284. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.98 and a quick ratio of 1.98. The firm’s fifty day moving average price is $203.10 and its 200-day moving average price is $203.57. The firm has a market capitalization of $26.60 billion, a P/E ratio of -187.18 and a beta of 0.80. Zscaler, Inc. has a 52-week low of $84.93 and a 52-week high of $259.61.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Sanford C. Bernstein lowered their target price on Zscaler from $311.00 to $280.00 and set an “outperform” rating for the company in a report on Friday, March 1st. JMP Securities reissued a “market outperform” rating and issued a $270.00 price objective on shares of Zscaler in a research note on Friday, March 1st. Robert W. Baird raised their price objective on Zscaler from $255.00 to $265.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Morgan Stanley raised their price objective on Zscaler from $195.00 to $214.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Finally, Oppenheimer lifted their target price on Zscaler from $245.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Five research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $230.24.

About Zscaler

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.