Townsquare Capital LLC Boosts Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Townsquare Capital LLC lifted its stake in Zscaler, Inc. (NASDAQ:ZS) by 236.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,983 shares of the company’s stock after buying an additional 3,501 shares during the period. Townsquare Capital LLC’s holdings in Zscaler were worth $852,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ZS. DekaBank Deutsche Girozentrale boosted its position in Zscaler by 7.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock valued at $37,495,000 after buying an additional 14,701 shares during the period. Creative Planning raised its stake in shares of Zscaler by 7.6% during the third quarter. Creative Planning now owns 148,534 shares of the company’s stock valued at $25,390,000 after acquiring an additional 10,551 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Zscaler during the second quarter worth about $25,287,000. Strategic Advisors LLC increased its holdings in Zscaler by 470.0% during the 3rd quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock valued at $1,391,000 after purchasing an additional 6,712 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Zscaler by 1,786.5% during the 3rd quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock valued at $2,728,000 after purchasing an additional 14,274 shares during the period. Institutional investors own 46.45% of the company’s stock.

Zscaler Stock Up 0.9 %

NASDAQ ZS opened at $208.51 on Tuesday. The company has a 50-day moving average price of $190.12 and a 200-day moving average price of $184.80. The firm has a market capitalization of $31.99 billion, a P/E ratio of -521.26 and a beta of 0.82. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The firm had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. During the same quarter in the previous year, the firm posted ($0.18) EPS. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Zscaler, Inc. will post -0.95 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. UBS Group reduced their target price on Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Morgan Stanley raised their target price on shares of Zscaler from $202.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. Jefferies Financial Group increased their price target on shares of Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Cantor Fitzgerald raised Zscaler to a “hold” rating in a research report on Monday, November 18th. Finally, BNP Paribas began coverage on Zscaler in a report on Tuesday, October 8th. They set a “neutral” rating and a $180.00 target price on the stock. Ten analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.13.

Insider Activity

In other news, CFO Remo Canessa sold 8,455 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the transaction, the chief financial officer now owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. The trade was a 3.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael J. Rich sold 4,813 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $824,370.64. Following the transaction, the insider now directly owns 103,259 shares of the company’s stock, valued at $17,686,201.52. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock valued at $5,256,651 in the last ninety days. Corporate insiders own 18.10% of the company’s stock.

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.