Flputnam Investment Management Co. acquired a new stake in shares of Zscaler, Inc. (NASDAQ:ZS – Free Report) in the 2nd quarter, HoldingsChannel reports. The firm acquired 44,152 shares of the company’s stock, valued at approximately $6,232,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Binnacle Investments Inc purchased a new position in Zscaler in the 3rd quarter valued at $25,000. AlphaCentric Advisors LLC acquired a new stake in shares of Zscaler in the 4th quarter worth $29,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Zscaler in the 4th quarter worth $30,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Zscaler in the fourth quarter valued at about $32,000. Finally, Western Wealth Management LLC purchased a new stake in shares of Zscaler in the first quarter valued at about $33,000. 46.45% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Zscaler
In other Zscaler news, insider Robert Schlossman sold 3,146 shares of Zscaler stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $126.43, for a total transaction of $397,748.78. Following the completion of the transaction, the insider owned 69,366 shares in the company, valued at approximately $8,769,943.38. The trade was a 4.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Kevin Rubin sold 503 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $173.38, for a total transaction of $87,210.14. Following the completion of the sale, the chief financial officer directly owned 40,895 shares in the company, valued at $7,090,375.10. This trade represents a 1.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,772 shares of company stock valued at $2,139,799 in the last quarter. Insiders own 17.20% of the company’s stock.
Zscaler Stock Performance
Key Zscaler News
Here are the key news stories impacting Zscaler this week:
- Positive Sentiment: J.P. Morgan initiated or reiterated a Buy rating on Zscaler and raised its price target to $215 from $205, suggesting meaningful upside and confidence in the company’s long-term cloud-security growth. Zscaler gets a Buy from J.P. Morgan
- Positive Sentiment: Zscaler participated in Deep Cogito’s $43 million Series A financing for research into self-improving artificial-intelligence models. The investment could strengthen Zscaler’s exposure to enterprise AI, although it is unlikely to materially affect near-term earnings. Deep Cogito raises $43 million Series A
- Positive Sentiment: A broader cybersecurity re-rating has lifted previously lagging stocks, with Zscaler benefiting from increased investor interest in security software and AI-related growth. The move was accompanied by a strong gain in the First Trust NASDAQ Cybersecurity ETF. Cybersecurity re-rating reaches lagging stocks
- Neutral Sentiment: Zscaler is expected to report quarterly results on Thursday. Its prior quarter featured a revenue and adjusted EPS beat, with revenue up 25.4% year over year, but investors will look for sustained billings, guidance, and AI-driven demand before extending the recent rally. Zscaler expected to announce quarterly earnings
- Neutral Sentiment: The broader market may remain sensitive to next week’s August jobs report and its implications for Federal Reserve policy, interest rates, and valuation multiples for high-growth technology stocks. August jobs report takes center stage
- Negative Sentiment: CFO Kevin Rubin sold 503 shares worth approximately $87,210 under a pre-arranged Rule 10b5-1 plan. The sale reduced his holdings by only about 1.2%, making it a limited sentiment concern rather than a fundamental warning. Zscaler CFO sells stock
Analyst Upgrades and Downgrades
Several research firms recently issued reports on ZS. Canaccord Genuity Group reissued a “buy” rating and set a $210.00 price target on shares of Zscaler in a report on Thursday, June 11th. Wedbush reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of Zscaler in a report on Wednesday, June 10th. Weiss Ratings raised Zscaler from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $180.00 price target on shares of Zscaler in a report on Wednesday, June 10th. Finally, TD Cowen lifted their price target on Zscaler from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, August 17th. Thirty-four analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $216.18.
Check Out Our Latest Research Report on Zscaler
Zscaler Company Profile
Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.
Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.
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Want to see what other hedge funds are holding ZS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zscaler, Inc. (NASDAQ:ZS – Free Report).
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