State of New Jersey Common Pension Fund D purchased a new stake in Zscaler Inc (NASDAQ:ZS) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 48,400 shares of the company’s stock, valued at approximately $2,287,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Stevens Capital Management LP acquired a new position in Zscaler during the second quarter worth $268,000. Aperio Group LLC raised its holdings in Zscaler by 100.8% during the second quarter. Aperio Group LLC now owns 5,840 shares of the company’s stock worth $448,000 after purchasing an additional 2,932 shares during the last quarter. Advisory Services Network LLC acquired a new position in Zscaler during the second quarter worth $63,000. Baldwin Brothers Inc. MA acquired a new position in Zscaler during the second quarter worth $77,000. Finally, Advisor Group Inc. raised its holdings in Zscaler by 22.5% during the second quarter. Advisor Group Inc. now owns 33,276 shares of the company’s stock worth $2,550,000 after purchasing an additional 6,120 shares during the last quarter. 33.03% of the stock is owned by institutional investors and hedge funds.
In other Zscaler news, Director Karen Blasing sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $68.09, for a total transaction of $68,090.00. Following the completion of the sale, the director now owns 3,595 shares of the company’s stock, valued at $244,783.55. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Amit Sinha sold 4,807 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $65.52, for a total value of $314,954.64. Following the sale, the insider now directly owns 127,664 shares of the company’s stock, valued at approximately $8,364,545.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,228 shares of company stock valued at $1,542,961. 27.40% of the stock is owned by company insiders.
Shares of NASDAQ:ZS opened at $42.55 on Friday. The company has a market cap of $5.65 billion, a P/E ratio of -354.58 and a beta of 1.14. Zscaler Inc has a 52 week low of $30.72 and a 52 week high of $89.54. The business has a fifty day simple moving average of $46.18 and a 200-day simple moving average of $67.29.
Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, September 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.06. Zscaler had a negative return on equity of 9.46% and a negative net margin of 9.46%. The firm had revenue of $86.11 million during the quarter, compared to the consensus estimate of $82.15 million. Research analysts forecast that Zscaler Inc will post -0.24 earnings per share for the current year.
Several equities analysts recently issued reports on ZS shares. Wedbush reduced their price objective on Zscaler from $90.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, September 11th. Rosenblatt Securities reaffirmed a “hold” rating and set a $50.00 price objective on shares of Zscaler in a report on Wednesday, September 18th. BMO Capital Markets reduced their price objective on Zscaler from $100.00 to $60.00 and set a “market perform” rating for the company in a report on Wednesday, September 11th. They noted that the move was a valuation call. Morgan Stanley reduced their price objective on Zscaler from $47.00 to $40.00 and set an “underweight” rating for the company in a report on Tuesday, October 22nd. Finally, Citigroup started coverage on Zscaler in a report on Monday, October 14th. They set a “neutral” rating and a $50.00 price objective for the company. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $64.61.
Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.
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