Pacer Advisors Inc. Purchases 21,173 Shares of Zscaler, Inc. (NASDAQ:ZS)

Pacer Advisors Inc. grew its holdings in Zscaler, Inc. (NASDAQ:ZS) by 144.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,820 shares of the company’s stock after purchasing an additional 21,173 shares during the period. Pacer Advisors Inc.’s holdings in Zscaler were worth $6,462,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Prestige Wealth Management Group LLC purchased a new position in shares of Zscaler during the third quarter valued at $31,000. True Wealth Design LLC increased its position in Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after purchasing an additional 185 shares during the period. Versant Capital Management Inc lifted its position in shares of Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after purchasing an additional 104 shares during the period. Modus Advisors LLC purchased a new position in Zscaler during the fourth quarter valued at approximately $36,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Zscaler in the third quarter worth approximately $38,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Stock Down 1.5 %

ZS stock opened at $201.63 on Thursday. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $259.61. The firm has a 50-day simple moving average of $194.83 and a 200-day simple moving average of $187.81. The stock has a market capitalization of $30.94 billion, a P/E ratio of -806.52 and a beta of 0.87.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results 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. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business 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 business earned ($0.18) earnings per share. The business’s revenue was up 26.4% compared to the same quarter last year. On average, analysts expect that Zscaler, Inc. will post -0.16 earnings per share for the current year.

Insiders Place Their Bets

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the transaction, the chief executive officer now owns 358,569 shares of the company’s stock, valued at $71,828,542.08. This trade represents a 0.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Syam Nair sold 3,682 shares of the company’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 $737,578.24. Following the sale, the insider now directly owns 142,866 shares in the company, valued at $28,618,917.12. This represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,248 shares of company stock valued at $2,052,879 over the last 90 days. 18.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZS. Guggenheim reiterated a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. Morgan Stanley lowered their price target on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 3rd. JMP Securities reiterated a “market outperform” rating and set a $240.00 price objective (down previously from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Cantor Fitzgerald upgraded shares of Zscaler to a “hold” rating in a research note on Monday, November 18th. Finally, Jefferies Financial Group upped their price target on Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and an average target price of $225.47.

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.