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

Geode Capital Management LLC raised its holdings in Zscaler, Inc. (NASDAQ:ZS) by 3.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,625,861 shares of the company’s stock after acquiring an additional 60,414 shares during the period. Geode Capital Management LLC’s holdings in Zscaler were worth $277,327,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ZS. Quest Partners LLC purchased a new position in shares of Zscaler during the 2nd quarter valued at approximately $28,000. Prestige Wealth Management Group LLC purchased a new position in Zscaler in the third quarter valued at $31,000. True Wealth Design LLC raised its position in shares of Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after acquiring an additional 185 shares during the period. Asset Dedication LLC boosted its stake in shares of Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after acquiring an additional 166 shares in the last quarter. Finally, American Capital Advisory LLC acquired a new stake in shares of Zscaler during the 2nd quarter valued at about $50,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Stock Down 3.8 %

Zscaler stock opened at $198.54 on Friday. The company’s 50 day moving average is $196.86 and its two-hundred day moving average is $186.88. The firm has a market cap of $30.46 billion, a PE ratio of -794.16 and a beta of 0.82. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $259.61.

Zscaler (NASDAQ:ZS) last released 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 return on equity of 0.75% and a negative net margin of 1.58%. The firm had revenue of $628.00 million during the quarter, compared to analyst estimates of $605.51 million. During the same period last year, the business posted ($0.18) earnings per share. Zscaler’s revenue was up 26.4% compared to the same quarter last year. On average, equities research analysts anticipate that Zscaler, Inc. will post -0.24 earnings per share for the current fiscal year.

Insider Transactions at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the transaction, the chief executive officer now owns 361,432 shares in the company, valued at approximately $61,906,072.96. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the sale, the insider now owns 105,806 shares in the company, valued at approximately $19,224,950.20. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,502 shares of company stock valued at $5,256,651. 18.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Piper Sandler upped their price target on Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Loop Capital decreased their target price on Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a research report on Tuesday, December 3rd. Morgan Stanley cut their price target on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a report on Tuesday, December 3rd. BNP Paribas started coverage on shares of Zscaler in a report on Tuesday, October 8th. They set a “neutral” rating and a $180.00 price objective on the stock. Finally, Citigroup boosted their target price on shares of Zscaler from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Eleven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $224.84.

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.