Red Spruce Capital LLC Raises Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Red Spruce Capital LLC lifted its stake in Zscaler, Inc. (NASDAQ:ZS) by 1.4% in the 4th quarter, HoldingsChannel reports. The firm owned 16,015 shares of the company’s stock after buying an additional 221 shares during the quarter. Zscaler accounts for 1.3% of Red Spruce Capital LLC’s portfolio, making the stock its 28th biggest position. Red Spruce Capital LLC’s holdings in Zscaler were worth $2,889,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of ZS. Geode Capital Management LLC increased its stake in shares of Zscaler by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock valued at $277,327,000 after purchasing an additional 60,414 shares in the last quarter. Champlain Investment Partners LLC increased its position in Zscaler by 28.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after buying an additional 283,540 shares in the last quarter. Westfield Capital Management Co. LP raised its stake in Zscaler by 33.8% during the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after buying an additional 100,814 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Zscaler by 11.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after acquiring an additional 37,801 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Zscaler by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock worth $60,696,000 after acquiring an additional 16,634 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Insider Buying and Selling

In related news, CFO Remo Canessa sold 3,703 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the sale, the chief financial officer now directly owns 220,635 shares in the company, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $573,516.16. Following the transaction, the chief executive officer now owns 358,569 shares in the company, valued at $71,828,542.08. This trade represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,248 shares of company stock worth $2,052,879. Insiders own 18.10% of the company’s stock.

Zscaler Trading Up 2.3 %

Shares of NASDAQ ZS opened at $191.81 on Wednesday. The firm’s fifty day moving average is $195.86 and its two-hundred day moving average is $187.84. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $259.61.

Zscaler (NASDAQ:ZS) last announced 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. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The company had revenue of $628.00 million during the quarter, compared to analyst estimates of $605.51 million. During the same period in the prior year, the company earned ($0.18) earnings per share. The firm’s revenue was up 26.4% on a year-over-year basis. On average, research analysts forecast that Zscaler, Inc. will post -0.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Citigroup upped their price target on shares of Zscaler from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Barclays upped their target price on shares of Zscaler from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Royal Bank of Canada restated an “outperform” rating and issued a $230.00 price objective on shares of Zscaler in a report on Tuesday, December 3rd. Jefferies Financial Group increased their target price on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. boosted their price target on Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Eleven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and a consensus target price of $225.47.

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.