Zscaler, Inc. (NASDAQ:ZS) Shares Acquired by Cynosure Group LLC

Cynosure Group LLC increased its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,131 shares of the company’s stock after acquiring an additional 89 shares during the quarter. Cynosure Group LLC’s holdings in Zscaler were worth $364,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

Several brokerages have recently commented on ZS. Rosenblatt Securities restated a “neutral” rating and issued a $190.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. Susquehanna restated a “positive” rating and set a $210.00 price target on shares of Zscaler in a research report on Thursday, September 5th. BNP Paribas assumed coverage on Zscaler in a research note on Tuesday, October 8th. They set a “neutral” rating and a $180.00 target price on the stock. Piper Sandler dropped their target price on Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Finally, Morgan Stanley increased their price target 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. Ten equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and a consensus price target of $220.48.

Insider Activity at Zscaler

In other news, insider Robert Schlossman sold 4,947 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $170.22, for a total value of $842,078.34. Following the transaction, the insider now owns 107,241 shares of the company’s stock, valued at approximately $18,254,563.02. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the sale, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. This represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock worth $5,256,651 in the last 90 days. 19.20% of the stock is owned by insiders.

Zscaler Stock Down 2.5 %

Shares of ZS stock opened at $204.96 on Friday. The stock’s 50-day moving average is $188.79 and its two-hundred day moving average is $184.36. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $259.61.

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 analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) EPS. Research analysts forecast that Zscaler, Inc. will post -0.95 earnings per share for the current year.

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.