11,500 Shares in Zscaler, Inc. (NASDAQ:ZS) Acquired by Washington Harbour Partners LP

Washington Harbour Partners LP acquired a new stake in Zscaler, Inc. (NASDAQ:ZS) in the third quarter, according to its most recent filing with the SEC. The fund acquired 11,500 shares of the company’s stock, valued at approximately $1,966,000. Zscaler makes up 3.5% of Washington Harbour Partners LP’s holdings, making the stock its 13th largest holding.

Several other institutional investors have also recently made changes to their positions in the stock. Champlain Investment Partners LLC boosted its holdings in 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 purchasing an additional 283,540 shares during the period. Bank of New York Mellon Corp boosted its stake in Zscaler by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after buying an additional 25,181 shares during the period. Westfield Capital Management Co. LP grew its position in Zscaler by 33.8% during the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after buying an additional 100,814 shares in the last quarter. Federated Hermes Inc. increased its stake in Zscaler by 18.3% in the 2nd quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock worth $75,857,000 after acquiring an additional 61,037 shares during 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.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $240.00 price objective on shares of Zscaler in a research report on Tuesday. Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a report on Monday, November 18th. KeyCorp upped their price objective on Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday. Wedbush decreased their price objective on Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Finally, Piper Sandler increased their price target on shares of Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday. Eleven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.84.

Insider Buying and Selling at Zscaler

In other news, insider Michael J. Rich sold 4,813 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $824,370.64. Following the completion of the sale, the insider now owns 103,259 shares in the company, valued at approximately $17,686,201.52. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the transaction, the chief executive officer now owns 361,432 shares in the company, valued at $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 30,502 shares of company stock valued at $5,256,651 in the last 90 days. Insiders own 18.10% of the company’s stock.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $205.61 on Friday. The company has a market capitalization of $31.55 billion, a P/E ratio of -822.44 and a beta of 0.82. The firm’s 50 day simple moving average is $192.67 and its two-hundred day simple moving average is $185.44. 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 data on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The firm had revenue of $628.00 million during the quarter, compared to analyst estimates of $605.51 million. Zscaler had a negative return on equity of 0.80% and a negative net margin of 1.58%. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.18) earnings per share. On average, sell-side analysts anticipate that Zscaler, Inc. will post -0.95 earnings per share 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.