Zscaler, Inc. (NASDAQ:ZS) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC increased its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 3.5% during the 3rd quarter, Holdings Channel reports. The fund owned 19,578 shares of the company’s stock after purchasing an additional 665 shares during the quarter. Empowered Funds LLC’s holdings in Zscaler were worth $3,347,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale raised its position in shares of Zscaler by 7.1% in the third 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. Creative Planning raised its holdings in Zscaler by 7.6% in the 3rd quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after purchasing an additional 10,551 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in Zscaler during the second quarter worth approximately $25,287,000. Strategic Advisors LLC grew its holdings in Zscaler by 470.0% in the third quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock valued at $1,391,000 after purchasing an additional 6,712 shares during the period. Finally, Van ECK Associates Corp increased its position in shares of Zscaler by 1,786.5% in the third quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock valued at $2,728,000 after buying an additional 14,274 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Stock Performance

Zscaler stock opened at $202.85 on Tuesday. The company has a market capitalization of $30.93 billion, a PE ratio of -507.11 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. The firm has a 50 day moving average price of $183.11 and a 200 day moving average price of $182.84.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating 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 business had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. The company’s revenue was up 30.3% on a year-over-year basis. As a group, equities research analysts forecast that Zscaler, Inc. will post -0.97 earnings per share for the current year.

Insiders Place Their Bets

In other Zscaler news, insider Robert Schlossman sold 1,435 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the sale, the insider now owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This trade represents a 1.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew William Fraser Brown sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the transaction, the director now directly owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. This represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $5,256,651 over the last three months. Company insiders own 19.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ZS shares. Robert W. Baird dropped their price target on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Susquehanna reiterated a “positive” rating and issued a $210.00 target price on shares of Zscaler in a research report on Thursday, September 5th. BNP Paribas assumed coverage on shares of Zscaler in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price target on the stock. 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. Finally, Oppenheimer decreased their target price on Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and a consensus price target of $217.18.

Zscaler 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.