Zscaler, Inc. (NASDAQ:ZS) Shares Purchased by Swedbank AB

Swedbank AB increased its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 25.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,363 shares of the company’s stock after purchasing an additional 2,327 shares during the period. Swedbank AB’s holdings in Zscaler were worth $1,942,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ZS. Champlain Investment Partners LLC raised its holdings in Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after acquiring an additional 283,540 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Zscaler by 13,498.6% in the 3rd quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock valued at $48,769,000 after acquiring an additional 283,201 shares during the last quarter. GuoLine Advisory Pte Ltd acquired a new position in Zscaler in the 3rd quarter valued at $32,660,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Zscaler during the 2nd quarter valued at $25,287,000. Finally, Caxton Associates LP grew its stake in shares of Zscaler by 467.9% during the 2nd quarter. Caxton Associates LP now owns 79,500 shares of the company’s stock valued at $15,279,000 after buying an additional 65,500 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Remo Canessa sold 8,455 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the sale, the chief financial officer now owns 231,793 shares in the company, valued at $39,701,505.04. This represents a 3.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the 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 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 disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock worth $5,256,651 over the last quarter. 19.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wedbush lowered their price objective 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. KeyCorp boosted their price objective on shares of Zscaler from $220.00 to $245.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Citigroup lowered their price objective on shares of Zscaler from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Bank of America cut shares of Zscaler from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $265.00 to $195.00 in a research note on Wednesday, September 4th. Finally, Robert W. Baird decreased their price target on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $220.29.

Zscaler Stock Performance

Shares of Zscaler stock opened at $204.96 on Thursday. The firm has a market cap of $31.45 billion, a PE ratio of -512.39 and a beta of 0.82. The firm’s 50-day simple moving average is $188.06 and its 200-day simple moving average is $184.21. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $259.61.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.09. The firm had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. Zscaler’s quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.17) earnings per share. On average, equities analysts predict that Zscaler, Inc. will post -0.95 earnings per share for the current year.

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.