Commerce Bank Increases Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Commerce Bank boosted its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 8.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,564 shares of the company’s stock after buying an additional 128 shares during the quarter. Commerce Bank’s holdings in Zscaler were worth $267,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Quest Partners LLC acquired a new stake in shares of Zscaler during the second quarter worth about $28,000. Asset Dedication LLC lifted its position in shares of Zscaler by 436.8% during the second 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 during the second quarter worth about $50,000. GAMMA Investing LLC lifted its position in shares of Zscaler by 21.3% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after purchasing an additional 67 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Zscaler by 613.0% during the second quarter. Quarry LP now owns 385 shares of the company’s stock worth $74,000 after purchasing an additional 331 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Stock Down 2.5 %

NASDAQ:ZS opened at $204.96 on Thursday. The company has a market capitalization of $31.45 billion, a PE ratio of -512.39 and a beta of 0.82. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $259.61. The stock has a fifty day simple moving average of $188.06 and a 200-day simple moving average of $184.21.

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

Insider Activity at Zscaler

In other Zscaler news, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $170.22, for a total value of $842,078.34. Following the completion of the sale, the insider now owns 107,241 shares in the company, valued at $18,254,563.02. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the sale, the chief executive officer now owns 361,432 shares of the company’s stock, valued at $61,906,072.96. This trade represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,502 shares of company stock valued at $5,256,651. 19.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ZS shares. Loop Capital reduced their target price on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 target price on shares of Zscaler in a report on Wednesday, September 4th. BNP Paribas started coverage on shares of Zscaler in a report on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 target price on the stock. BTIG Research raised their target price on shares of Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a report on Monday, November 18th. Ten research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $220.29.

Zscaler 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.