Handelsbanken Fonder AB Increases Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Handelsbanken Fonder AB boosted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 20.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,121 shares of the company’s stock after buying an additional 9,673 shares during the quarter. Handelsbanken Fonder AB’s holdings in Zscaler were worth $10,305,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC raised its stake in shares of Zscaler by 15.0% during the 3rd quarter. Signaturefd LLC now owns 1,028 shares of the company’s stock worth $176,000 after buying an additional 134 shares during the period. Private Advisor Group LLC increased its holdings in Zscaler by 2.0% in the 3rd quarter. Private Advisor Group LLC now owns 21,070 shares of the company’s stock worth $3,602,000 after acquiring an additional 415 shares in the last quarter. International Assets Investment Management LLC raised its position in Zscaler by 13,498.6% during the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock worth $48,769,000 after acquiring an additional 283,201 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in Zscaler by 32.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 11,135 shares of the company’s stock valued at $1,903,000 after purchasing an additional 2,730 shares in the last quarter. Finally, Ballentine Partners LLC grew its position in shares of Zscaler by 144.4% in the third quarter. Ballentine Partners LLC now owns 2,762 shares of the company’s stock valued at $472,000 after purchasing an additional 1,632 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,863 shares of Zscaler stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the transaction, the chief executive officer now directly owns 358,569 shares in the company, valued at approximately $71,828,542.08. This trade represents a 0.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the sale, the chief financial officer now owns 220,635 shares in the company, valued at approximately $44,197,603.20. This trade represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,248 shares of company stock worth $2,052,879. Corporate insiders own 18.10% of the company’s stock.

Zscaler Stock Down 4.1 %

NASDAQ:ZS opened at $198.56 on Friday. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $251.55. The stock’s fifty day moving average is $195.38 and its two-hundred day moving average is $190.71. The stock has a market capitalization of $30.47 billion, a price-to-earnings ratio of -794.24 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last announced its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The company had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. Zscaler’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period last year, the business posted ($0.18) EPS. On average, sell-side analysts expect that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays upped their price target on shares of Zscaler from $220.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday. Oppenheimer increased their target price on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Jefferies Financial Group lifted their price target on Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Canaccord Genuity Group increased their price objective on Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $226.56.

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.