Zscaler, Inc. (NASDAQ:ZS) Shares Acquired by True Wealth Design LLC

True Wealth Design LLC boosted its holdings in Zscaler, Inc. (NASDAQ:ZS) by 18,500.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 186 shares of the company’s stock after acquiring an additional 185 shares during the quarter. True Wealth Design LLC’s holdings in Zscaler were worth $32,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Fred Alger Management LLC increased its holdings in shares of Zscaler by 1,151.0% during the third quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock valued at $1,773,000 after purchasing an additional 9,542 shares during the period. Captrust Financial Advisors grew its position in Zscaler by 11.2% in the 3rd quarter. Captrust Financial Advisors now owns 5,024 shares of the company’s stock valued at $859,000 after buying an additional 504 shares in the last quarter. Lattice Capital Management LLC increased its stake in Zscaler by 318.2% during the 3rd quarter. Lattice Capital Management LLC now owns 4,600 shares of the company’s stock valued at $786,000 after buying an additional 3,500 shares during the period. Cynosure Group LLC raised its position in shares of Zscaler by 4.4% during the 3rd quarter. Cynosure Group LLC now owns 2,131 shares of the company’s stock worth $364,000 after buying an additional 89 shares in the last quarter. Finally, Townsquare Capital LLC lifted its stake in shares of Zscaler by 236.2% in the 3rd quarter. Townsquare Capital LLC now owns 4,983 shares of the company’s stock worth $852,000 after acquiring an additional 3,501 shares during the period. Institutional investors own 46.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ZS. Piper Sandler lowered their price objective on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 4th. Stifel Nicolaus boosted their price objective on Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. JMP Securities reaffirmed a “market outperform” rating and set a $270.00 target price on shares of Zscaler in a research note on Monday, November 4th. Cantor Fitzgerald raised Zscaler to a “hold” rating in a report on Monday, November 18th. Finally, BMO Capital Markets cut their price target on shares of Zscaler from $208.00 to $197.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.13.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $206.59 on Monday. Zscaler, Inc. has a one year low of $153.45 and a one year high of $259.61. The business’s 50-day moving average price is $190.12 and its two-hundred day moving average price is $184.78.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.09. The business had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.17) EPS. On average, sell-side analysts predict that Zscaler, Inc. will post -0.95 EPS for the current year.

Insider Activity

In related news, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the transaction, the insider now directly owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This trade represents a 1.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Remo Canessa sold 8,455 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $1,448,172.40. Following the sale, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at $39,701,505.04. The trade was a 3.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,502 shares of company stock worth $5,256,651. 18.10% of the stock is owned by corporate insiders.

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.