Sheets Smith Wealth Management Buys New Position in Zscaler, Inc. (NASDAQ:ZS)

Sheets Smith Wealth Management purchased a new position in Zscaler, Inc. (NASDAQ:ZS) during the 4th quarter, HoldingsChannel reports. The firm purchased 1,873 shares of the company’s stock, valued at approximately $415,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Polar Capital Holdings Plc purchased a new position in Zscaler in the 3rd quarter worth about $61,681,000. International Assets Investment Management LLC raised its holdings in shares of Zscaler by 19,012.4% during the fourth quarter. International Assets Investment Management LLC now owns 223,997 shares of the company’s stock valued at $49,629,000 after acquiring an additional 222,825 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of Zscaler by 370.3% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 249,310 shares of the company’s stock valued at $55,660,000 after acquiring an additional 196,296 shares in the last quarter. Federated Hermes Inc. acquired a new position in Zscaler in the 4th quarter worth approximately $39,246,000. Finally, Vanguard Group Inc. grew its position in Zscaler by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock worth $1,343,810,000 after purchasing an additional 129,090 shares in the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ZS. The Goldman Sachs Group upped their target price on Zscaler from $189.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, March 4th. JPMorgan Chase & Co. increased their target price on shares of Zscaler from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Needham & Company LLC restated a “strong-buy” rating and set a $290.00 price target on shares of Zscaler in a report on Friday, March 1st. Rosenblatt Securities increased their price objective on Zscaler from $285.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Finally, Barclays lowered their target price on Zscaler from $259.00 to $240.00 and set an “overweight” rating on the stock in a research note on Friday, March 1st. Five analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $230.24.

Zscaler Stock Performance

NASDAQ:ZS opened at $177.50 on Tuesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.98 and a current ratio of 1.98. The firm’s 50-day moving average is $191.25 and its 200-day moving average is $203.91. Zscaler, Inc. has a 52-week low of $103.62 and a 52-week high of $259.61. The company has a market cap of $26.61 billion, a price-to-earnings ratio of -187.52 and a beta of 0.85.

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

Insider Activity at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $408,512.25. Following the completion of the transaction, the chief executive officer now owns 367,152 shares in the company, valued at $70,915,408.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $408,512.25. Following the sale, the chief executive officer now owns 367,152 shares of the company’s stock, valued at approximately $70,915,408.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Syam Nair sold 2,893 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $558,782.95. Following the sale, the insider now owns 137,294 shares of the company’s stock, valued at approximately $26,518,336.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,715 shares of company stock worth $4,212,202. 19.20% of the stock is owned by corporate insiders.

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.