Insight Holdings Group LLC Raises Position in Zscaler, Inc. (NASDAQ:ZS)

Insight Holdings Group LLC lifted its stake in Zscaler, Inc. (NASDAQ:ZS) by 8.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,000 shares of the company’s stock after buying an additional 800 shares during the quarter. Zscaler makes up about 0.1% of Insight Holdings Group LLC’s investment portfolio, making the stock its 29th largest position. Insight Holdings Group LLC’s holdings in Zscaler were worth $1,709,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC acquired a new stake in Zscaler during the 2nd quarter worth $28,000. True Wealth Design LLC grew its position in Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after acquiring an additional 185 shares in the last quarter. Asset Dedication LLC grew its position in shares of Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after buying an additional 166 shares in the last quarter. American Capital Advisory LLC bought a new stake in Zscaler in the second quarter valued at $50,000. Finally, GAMMA Investing LLC grew its holdings in Zscaler by 21.3% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after acquiring an additional 67 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Activity

In other Zscaler news, insider Michael J. Rich sold 4,813 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $824,370.64. Following the transaction, the insider now owns 103,259 shares in the company, valued at $17,686,201.52. The trade was a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andrew William Fraser Brown sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the completion of the sale, the director now owns 25,907 shares of the company’s stock, valued at $4,510,408.70. This trade represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,502 shares of company stock worth $5,256,651. 18.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ZS. Stifel Nicolaus boosted their target price on shares of Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Rosenblatt Securities reiterated a “neutral” rating and issued a $190.00 price objective on shares of Zscaler in a research note on Wednesday, September 4th. Wells Fargo & Company reduced their price objective on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 4th. Loop Capital cut their target price on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Finally, Susquehanna lifted their target price on shares of Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research note on Tuesday. Ten analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, Zscaler has an average rating of “Moderate Buy” and an average price target of $222.66.

Zscaler Trading Down 6.4 %

ZS traded down $13.31 during trading on Tuesday, hitting $195.20. 344,244 shares of the company traded hands, compared to its average volume of 2,016,214. The company has a market cap of $29.95 billion, a PE ratio of -487.99 and a beta of 0.82. The stock’s 50-day simple moving average is $190.12 and its two-hundred day simple moving average is $184.80. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $259.61.

Zscaler (NASDAQ:ZS) last issued its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. The firm had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business’s revenue was up 26.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.18) earnings per share. Equities analysts expect that Zscaler, Inc. will post -0.95 EPS for the current year.

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.