LMR Partners LLP Buys New Holdings in Zscaler, Inc. (NASDAQ:ZS)

LMR Partners LLP acquired a new stake in Zscaler, Inc. (NASDAQ:ZS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,453 shares of the company’s stock, valued at approximately $1,787,000.

Several other hedge funds also recently added to or reduced their stakes in ZS. International Assets Investment Management LLC increased its holdings in Zscaler by 13,498.6% in the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock valued at $48,769,000 after buying an additional 283,201 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Zscaler in the first quarter worth approximately $47,217,000. GuoLine Advisory Pte Ltd bought a new position in shares of Zscaler in the third quarter valued at $32,660,000. Massachusetts Financial Services Co. MA bought a new position in shares of Zscaler in the second quarter valued at $25,287,000. Finally, Vanguard Group Inc. increased its holdings in shares of Zscaler by 1.3% in the first quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock valued at $1,726,307,000 after buying an additional 118,002 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the transaction, the chief executive officer now owns 361,432 shares in the company, valued at $61,906,072.96. This trade represents a 0.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Remo Canessa sold 8,455 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the transaction, the chief financial officer now owns 231,793 shares in the company, valued at $39,701,505.04. This trade represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on ZS shares. BTIG Research cut their target price on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. BNP Paribas initiated coverage on shares of Zscaler in a report on Tuesday, October 8th. They set a “neutral” rating and a $180.00 price target for the company. Stifel Nicolaus upped their price target on shares of Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Scotiabank cut their price objective on shares of Zscaler from $210.00 to $195.00 and set a “sector outperform” rating for the company in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company dropped their price target on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $217.18.

Zscaler Price Performance

ZS stock opened at $202.85 on Tuesday. The firm has a fifty day moving average price of $183.11 and a 200 day moving average price of $182.84. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61.

Zscaler (NASDAQ:ZS) last issued 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 company had revenue of $592.90 million during 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%. Zscaler’s revenue was up 30.3% on a year-over-year basis. During the same period last year, the company earned ($0.17) earnings per share. As a group, research analysts forecast that Zscaler, Inc. will post -0.97 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.