Westfield Capital Management Co. LP Purchases 65,980 Shares of Zscaler, Inc. (NASDAQ:ZS)

Westfield Capital Management Co. LP grew its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 19.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 412,063 shares of the company’s stock after acquiring an additional 65,980 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Zscaler were worth $91,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of ZS. Vanguard Group Inc. raised its holdings in Zscaler by 1.5% in 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 during the period. Northern Trust Corp raised its holdings in Zscaler by 5.6% in the 3rd quarter. Northern Trust Corp now owns 556,446 shares of the company’s stock worth $86,577,000 after purchasing an additional 29,405 shares during the period. Norges Bank bought a new position in Zscaler in the 4th quarter worth $117,599,000. Polar Capital Holdings Plc bought a new position in Zscaler in the 3rd quarter worth $61,681,000. Finally, Trivest Advisors Ltd bought a new position in Zscaler in the 4th quarter worth $72,051,000. 46.45% of the stock is owned by institutional investors.

Zscaler Trading Down 0.2 %

ZS traded down $0.27 on Friday, reaching $171.64. 1,291,143 shares of the company traded hands, compared to its average volume of 1,586,682. The company has a market cap of $25.73 billion, a P/E ratio of -180.67 and a beta of 0.85. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19. Zscaler, Inc. has a one year low of $125.25 and a one year high of $259.61. The firm has a fifty day simple moving average of $181.26 and a two-hundred day simple moving average of $205.10.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $507.56 million. As a group, equities research analysts expect that Zscaler, Inc. will post -0.8 earnings per share for the current year.

Insider Buying and Selling

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the firm’s 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 $408,512.25. Following the completion of the sale, the chief executive officer now directly owns 367,152 shares in the company, valued at $70,915,408.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,115 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 value of $408,512.25. Following the completion of the sale, the chief executive officer now directly owns 367,152 shares in the company, valued at $70,915,408.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Remo Canessa sold 7,707 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 $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 $49,435,390.45. The disclosure for this sale can be found here. Insiders sold 12,715 shares of company stock worth $2,455,902 in the last three months. 19.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ZS shares. BMO Capital Markets decreased their target price on Zscaler from $268.00 to $255.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Wedbush increased their price target on Zscaler from $250.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Sanford C. Bernstein cut their price target on Zscaler from $311.00 to $280.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. Robert W. Baird cut their price target on Zscaler from $265.00 to $260.00 and set an “outperform” rating for the company in a research note on Friday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $270.00 price target on shares of Zscaler in a research note on Tuesday, May 14th. Five research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $230.76.

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.