Zscaler, Inc. (NASDAQ:ZS) Shares Purchased by Fred Alger Management LLC

Fred Alger Management LLC grew its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 1,151.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,371 shares of the company’s stock after purchasing an additional 9,542 shares during the quarter. Fred Alger Management LLC’s holdings in Zscaler were worth $1,773,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Captrust Financial Advisors grew its stake in shares of Zscaler by 11.2% in the 3rd quarter. Captrust Financial Advisors now owns 5,024 shares of the company’s stock worth $859,000 after purchasing an additional 504 shares during the last quarter. Lattice Capital Management LLC grew its position in Zscaler by 318.2% in the third quarter. Lattice Capital Management LLC now owns 4,600 shares of the company’s stock worth $786,000 after buying an additional 3,500 shares during the last quarter. Cynosure Group LLC increased its holdings in shares of Zscaler by 4.4% in the third quarter. Cynosure Group LLC now owns 2,131 shares of the company’s stock valued at $364,000 after buying an additional 89 shares in the last quarter. Townsquare Capital LLC lifted its position in shares of Zscaler by 236.2% during the 3rd quarter. Townsquare Capital LLC now owns 4,983 shares of the company’s stock valued at $852,000 after acquiring an additional 3,501 shares during the last quarter. Finally, Thematics Asset Management boosted its stake in shares of Zscaler by 88.5% during the 3rd quarter. Thematics Asset Management now owns 147,000 shares of the company’s stock worth $25,128,000 after acquiring an additional 69,000 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Trading Up 0.8 %

Zscaler stock opened at $206.59 on Monday. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $259.61. The business’s 50-day simple moving average is $190.12 and its 200-day simple moving average is $184.78.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) 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 analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.17) earnings per share. As a group, research analysts predict that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Analysts Set New Price Targets

ZS has been the subject of several analyst reports. Susquehanna reaffirmed a “positive” rating and set a $210.00 target price on shares of Zscaler in a report on Thursday, September 5th. Morgan Stanley lifted their target price on shares of Zscaler from $202.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. Wells Fargo & Company decreased their price objective on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. Barclays boosted 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, Oppenheimer decreased their target price on Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Zscaler has an average rating of “Moderate Buy” and an average price target of $221.13.

Insiders Place Their Bets

In related news, insider Robert Schlossman sold 4,947 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $170.22, for a total value of $842,078.34. Following the completion of the transaction, the insider now directly owns 107,241 shares in the company, valued at approximately $18,254,563.02. This represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction 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 sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $5,256,651 in the last ninety days. Insiders own 18.10% of the company’s stock.

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.