ING Groep NV Takes Position in Zscaler, Inc. (NASDAQ:ZS)

ING Groep NV bought a new stake in shares of Zscaler, Inc. (NASDAQ:ZS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,748 shares of the company’s stock, valued at approximately $676,000.

A number of other hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in shares of Zscaler by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock valued at $277,327,000 after buying an additional 60,414 shares in the last quarter. Champlain Investment Partners LLC raised its position in shares of Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after purchasing an additional 283,540 shares during the last quarter. Westfield Capital Management Co. LP raised its position in shares of Zscaler by 33.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after purchasing an additional 100,814 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Zscaler by 11.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after purchasing an additional 37,801 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Zscaler by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock worth $60,696,000 after purchasing an additional 16,634 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Insider Activity at Zscaler

In other Zscaler news, insider Syam Nair sold 3,682 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the transaction, the insider now directly owns 142,866 shares in the company, valued at $28,618,917.12. This represents a 2.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the transaction, the chief executive officer now owns 358,569 shares of the company’s stock, valued at $71,828,542.08. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is owned by company insiders.

Zscaler Trading Down 0.8 %

Shares of NASDAQ:ZS opened at $197.05 on Tuesday. The stock has a 50 day moving average of $195.23 and a 200 day moving average of $191.07. The company has a market cap of $30.24 billion, a PE ratio of -788.20 and a beta of 0.89. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $251.55.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The company had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm’s revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.18) EPS. Equities research analysts predict that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on ZS. Susquehanna lifted their price target on Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research report on Tuesday, December 3rd. Morgan Stanley lowered their price target on Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 3rd. Citigroup lifted their price target on Zscaler from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Guggenheim reaffirmed a “neutral” rating on shares of Zscaler in a research report on Tuesday, December 3rd. Finally, Cantor Fitzgerald raised Zscaler to a “hold” rating in a research report on Monday, November 18th. Eleven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $226.56.

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.