GSB Wealth Management LLC Raises Holdings in Zscaler, Inc. (NASDAQ:ZS)

GSB Wealth Management LLC grew its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 9.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,315 shares of the company’s stock after buying an additional 200 shares during the period. GSB Wealth Management LLC’s holdings in Zscaler were worth $418,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the business’s 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 completion of the sale, the chief financial officer now owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. The trade was a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $28,618,917.12. This represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,248 shares of company stock valued at $2,052,879. Corporate insiders own 18.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ZS has been the topic of several recent analyst reports. Guggenheim reaffirmed a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 price objective on shares of Zscaler in a research report on Tuesday, December 3rd. Piper Sandler increased their price objective on Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Barclays increased their price objective on Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a research report on Monday, November 18th. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, Zscaler presently has an average rating of “Moderate Buy” and a consensus price target of $225.47.

Zscaler Trading Up 0.4 %

Shares of NASDAQ:ZS opened at $193.47 on Friday. The stock has a fifty day simple moving average of $195.05 and a two-hundred day simple moving average of $187.86. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $259.61.

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