Thematics Asset Management Grows Position in Zscaler, Inc. (NASDAQ:ZS)

Thematics Asset Management boosted its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 88.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 147,000 shares of the company’s stock after acquiring an additional 69,000 shares during the quarter. Thematics Asset Management’s holdings in Zscaler were worth $25,128,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Advisors Asset Management Inc. increased its holdings in Zscaler by 59.8% in the 1st quarter. Advisors Asset Management Inc. now owns 2,229 shares of the company’s stock valued at $429,000 after purchasing an additional 834 shares during the last quarter. Janus Henderson Group PLC grew its position in Zscaler by 11.8% in the 1st quarter. Janus Henderson Group PLC now owns 9,121 shares of the company’s stock valued at $1,757,000 after acquiring an additional 963 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Zscaler by 3.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 3,761 shares of the company’s stock worth $724,000 after purchasing an additional 111 shares during the period. Motley Fool Asset Management LLC lifted its position in shares of Zscaler by 11.2% during the first quarter. Motley Fool Asset Management LLC now owns 4,422 shares of the company’s stock worth $852,000 after purchasing an additional 444 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of Zscaler by 7.4% in the first quarter. Tidal Investments LLC now owns 4,938 shares of the company’s stock valued at $951,000 after purchasing an additional 341 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. This trade represents a 0.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $170.22, for a total transaction of $842,078.34. Following the sale, the insider now owns 107,241 shares in the company, valued at $18,254,563.02. This represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $5,256,651 in the last 90 days. 19.20% of the stock is owned by company insiders.

Zscaler Stock Performance

NASDAQ ZS traded down $1.50 during trading hours on Tuesday, reaching $208.92. The company’s stock had a trading volume of 233,704 shares, compared to its average volume of 2,010,407. The company’s 50-day moving average is $187.27 and its two-hundred day moving average is $183.96. The stock has a market cap of $31.86 billion, a PE ratio of -526.04 and a beta of 0.82. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same quarter last year, the business posted ($0.17) EPS. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. Equities analysts expect that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ZS. BTIG Research reduced their target price on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Piper Sandler cut their price target on Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. Barclays boosted their price objective on Zscaler from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a report on Monday, November 18th. Finally, Wedbush lowered their target price on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $219.32.

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.