Forsta AP Fonden Purchases 2,000 Shares of Zscaler, Inc. (NASDAQ:ZS)

Forsta AP Fonden lifted its holdings in Zscaler, Inc. (NASDAQ:ZS) by 4.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 44,600 shares of the company’s stock after buying an additional 2,000 shares during the period. Forsta AP Fonden’s holdings in Zscaler were worth $7,624,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quest Partners LLC acquired a new stake in Zscaler in the second quarter worth $28,000. Asset Dedication LLC boosted its position in shares of Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares in the last quarter. American Capital Advisory LLC acquired a new stake in shares of Zscaler in the 2nd quarter valued at about $50,000. GAMMA Investing LLC increased its position in Zscaler by 21.3% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after buying an additional 67 shares in the last quarter. Finally, Quarry LP raised its stake in Zscaler by 613.0% during the 2nd quarter. Quarry LP now owns 385 shares of the company’s stock worth $74,000 after buying an additional 331 shares during the period. 46.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ZS shares. Loop Capital decreased their price objective on Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. JMP Securities restated a “market outperform” rating and set a $270.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. Wedbush reduced their price objective on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Oppenheimer lowered their target price on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Finally, BTIG Research cut their price target on Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Ten investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $216.73.

Zscaler Stock Up 0.6 %

ZS opened at $184.96 on Monday. The business’s fifty day simple moving average is $180.90 and its 200 day simple moving average is $180.68. Zscaler, Inc. has a 52 week low of $152.60 and a 52 week high of $259.61. The stock has a market cap of $27.96 billion, a PE ratio of -362.67 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.09. The firm had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company’s revenue was up 30.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.17) EPS. As a group, equities analysts anticipate that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Insider Transactions at Zscaler

In other Zscaler news, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the sale, the insider now directly owns 105,806 shares of the company’s stock, valued at $19,224,950.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Remo Canessa sold 8,455 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $39,701,505.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Schlossman sold 1,435 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the sale, the insider now owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is currently owned by insiders.

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.