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

Handelsbanken Fonder AB lifted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 20.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 quarter.

Several other hedge funds also recently bought and sold shares of ZS. Global X Japan Co. Ltd. grew its holdings in Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Zscaler during the fourth quarter worth $29,000. Prestige Wealth Management Group LLC purchased a new position in Zscaler during the third quarter valued at $31,000. True Wealth Design LLC increased its holdings in Zscaler by 18,500.0% in the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after acquiring an additional 185 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after purchasing an additional 104 shares in the last quarter. Institutional investors own 46.45% of the company’s stock.

Analysts Set New Price Targets

ZS has been the subject of a number of research analyst reports. Susquehanna raised their price objective on Zscaler from $210.00 to $225.00 and gave the company a “positive” rating in a research report on Tuesday, December 3rd. Canaccord Genuity Group raised their price target on Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $240.00 price objective (down from $270.00) on shares of Zscaler in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, BMO Capital Markets upped their price target on shares of Zscaler from $197.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $226.56.

Insider Activity

In related news, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $737,578.24. Following the completion of the transaction, the insider now owns 142,866 shares in the company, valued at $28,618,917.12. The trade was a 2.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of Zscaler stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the completion of the sale, the chief executive officer now owns 358,569 shares of the company’s stock, valued at $71,828,542.08. This trade represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is currently owned by corporate insiders.

Zscaler Stock Down 4.1 %

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

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $605.51 million. During the same quarter last year, the firm posted ($0.18) earnings per share. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. Equities analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Zscaler Company 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.