Erste Asset Management GmbH grew its position in shares of Zscaler, Inc. (NASDAQ:ZS – Free Report) by 542.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 93,434 shares of the company’s stock after acquiring an additional 78,889 shares during the quarter. Erste Asset Management GmbH’s holdings in Zscaler were worth $21,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its holdings in shares of Zscaler by 19.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,439 shares of the company’s stock worth $285,000 after buying an additional 239 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Zscaler by 8.2% in the 1st quarter. NewEdge Advisors LLC now owns 4,899 shares of the company’s stock worth $972,000 after buying an additional 370 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Zscaler by 9.2% in the 1st quarter. Empowered Funds LLC now owns 2,811 shares of the company’s stock worth $558,000 after buying an additional 238 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Zscaler in the 2nd quarter worth about $252,000. Finally, Jump Financial LLC purchased a new position in shares of Zscaler in the 2nd quarter worth about $3,019,000. 46.45% of the stock is owned by hedge funds and other institutional investors.
Zscaler Trading Down 1.2%
Shares of ZS opened at $129.25 on Tuesday. The business’s 50-day moving average price is $143.37 and its 200-day moving average price is $181.49. Zscaler, Inc. has a twelve month low of $114.63 and a twelve month high of $336.99. The stock has a market cap of $20.90 billion, a PE ratio of -269.27 and a beta of 0.97. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.72.
Wall Street Analyst Weigh In
ZS has been the topic of a number of research analyst reports. B. Riley Financial cut their price target on shares of Zscaler from $225.00 to $215.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Berenberg Bank set a $200.00 price target on shares of Zscaler in a report on Thursday, May 28th. TD Cowen reissued a “buy” rating on shares of Zscaler in a report on Wednesday, May 27th. Wells Fargo & Company cut their price target on shares of Zscaler from $210.00 to $180.00 and set an “overweight” rating on the stock in a report on Thursday, May 28th. Finally, Oppenheimer dropped their price objective on shares of Zscaler from $280.00 to $250.00 and set an “outperform” rating on the stock in a report on Tuesday, March 10th. Thirty-three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $216.03.
View Our Latest Research Report on ZS
Insider Activity
In other news, CFO Kevin Rubin sold 1,682 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $156.59, for a total transaction of $263,384.38. Following the sale, the chief financial officer directly owned 46,479 shares in the company, valued at $7,278,146.61. This represents a 3.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert Schlossman sold 2,263 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $156.59, for a total transaction of $354,363.17. Following the completion of the transaction, the insider owned 72,390 shares in the company, valued at approximately $11,335,550.10. This trade represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 12,130 shares of company stock valued at $1,892,487. 17.20% of the stock is currently owned by insiders.
About Zscaler
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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