CHURCHILL MANAGEMENT Corp Purchases Shares of 10,952 Zscaler, Inc. (NASDAQ:ZS)

CHURCHILL MANAGEMENT Corp acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS) in the 4th quarter, HoldingsChannel reports. The firm acquired 10,952 shares of the company’s stock, valued at approximately $1,976,000.

A number of other institutional investors also recently modified their holdings of ZS. Fred Alger Management LLC lifted its position in Zscaler by 1,151.0% during the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock worth $1,773,000 after buying an additional 9,542 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Zscaler by 7.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock worth $37,495,000 after purchasing an additional 14,701 shares in the last quarter. Creative Planning grew 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 purchasing an additional 10,551 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of Zscaler by 11.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after purchasing an additional 37,801 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in Zscaler in the 2nd quarter worth approximately $25,287,000. Institutional investors own 46.45% of the company’s stock.

Wall Street Analysts Forecast Growth

ZS has been the topic of a number of recent research reports. Wells Fargo & Company increased their price objective on Zscaler from $180.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. BTIG Research lifted their price objective on Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Susquehanna boosted their price objective on Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a report on Tuesday, December 3rd. Barclays raised their target price on shares of Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, Guggenheim reissued a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $224.84.

Insiders Place Their Bets

In other Zscaler news, insider Syam Nair sold 3,682 shares of Zscaler stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the sale, the insider now directly owns 142,866 shares in the company, valued at approximately $28,618,917.12. The trade was a 2.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Remo Canessa sold 3,703 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $741,784.96. Following the transaction, the chief financial officer now owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,248 shares of company stock valued at $2,052,879 in the last quarter. 18.10% of the stock is currently owned by insiders.

Zscaler Trading Down 1.3 %

ZS opened at $187.55 on Friday. The stock has a market capitalization of $28.78 billion, a P/E ratio of -750.20 and a beta of 0.87. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $259.61. The firm’s fifty day simple moving average is $196.79 and its 200 day simple moving average is $188.20.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The company had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.18) earnings per share. On average, equities research analysts predict that Zscaler, Inc. will post -0.16 EPS for the current fiscal year.

Zscaler Company 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.