Ieq Capital LLC Raises Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Ieq Capital LLC lifted its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 1,439.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,457 shares of the company’s stock after purchasing an additional 47,179 shares during the period. Ieq Capital LLC’s holdings in Zscaler were worth $9,103,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Fred Alger Management LLC increased its stake in shares of Zscaler by 1,151.0% during the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock worth $1,773,000 after purchasing an additional 9,542 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Zscaler by 7.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock worth $37,495,000 after acquiring an additional 14,701 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in 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 acquiring an additional 37,801 shares during the period. Zweig DiMenna Associates LLC boosted its holdings in shares of Zscaler by 29.8% in the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock valued at $14,061,000 after purchasing an additional 17,900 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft boosted its holdings in shares of Zscaler by 30.3% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock valued at $1,515,000 after purchasing an additional 1,952 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Trading Down 3.6 %

NASDAQ:ZS opened at $206.97 on Friday. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $251.55. The firm’s fifty day simple moving average is $195.38 and its 200 day simple moving average is $190.31. The firm has a market capitalization of $31.76 billion, a PE ratio of -827.88 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last posted its earnings results 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. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The business had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. During the same period last year, the business posted ($0.18) EPS. Zscaler’s revenue was up 26.4% compared to the same quarter last year. As a group, analysts anticipate that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ZS has been the topic of a number of research analyst reports. BTIG Research lifted their price target on shares of Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Canaccord Genuity Group lifted their price target on shares of Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Barclays lifted their price target on shares of Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. KeyCorp lifted their price target on shares of Zscaler from $245.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Finally, Oppenheimer lifted their price target on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and an average target price of $225.63.

Insider Activity at Zscaler

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $741,784.96. Following the sale, the chief financial officer now directly owns 220,635 shares in the company, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Syam Nair sold 3,682 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $737,578.24. Following the completion of the sale, the insider now owns 142,866 shares in the company, valued at $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is owned by 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.