Convergence Investment Partners LLC Buys 115 Shares of Zscaler, Inc. (NASDAQ:ZS)

Convergence Investment Partners LLC lifted its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,891 shares of the company’s stock after purchasing an additional 115 shares during the quarter. Convergence Investment Partners LLC’s holdings in Zscaler were worth $419,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Polar Capital Holdings Plc purchased a new stake in shares of Zscaler in the third quarter worth $61,681,000. International Assets Investment Management LLC raised its holdings in shares of Zscaler by 19,012.4% in the 4th quarter. International Assets Investment Management LLC now owns 223,997 shares of the company’s stock valued at $49,629,000 after acquiring an additional 222,825 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Zscaler by 370.3% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 249,310 shares of the company’s stock valued at $55,660,000 after acquiring an additional 196,296 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Zscaler during the fourth quarter worth about $39,246,000. Finally, Vanguard Group Inc. increased its position in shares of Zscaler by 1.5% in the third quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock worth $1,343,810,000 after purchasing an additional 129,090 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Buying and Selling

In other news, Director Karen Blasing sold 7,000 shares of Zscaler stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $236.24, for a total transaction of $1,653,680.00. Following the completion of the transaction, the director now directly owns 39,539 shares in the company, valued at $9,340,693.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $408,512.25. Following the sale, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at approximately $70,915,408.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen Blasing sold 7,000 shares of Zscaler stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $236.24, for a total transaction of $1,653,680.00. Following the completion of the transaction, the director now directly owns 39,539 shares of the company’s stock, valued at $9,340,693.36. The disclosure for this sale can be found here. Insiders sold a total of 26,715 shares of company stock worth $5,865,882 in the last three months. 19.20% of the stock is owned by corporate insiders.

Zscaler Stock Up 1.3 %

ZS stock opened at $177.05 on Monday. The company has a market capitalization of $26.54 billion, a price-to-earnings ratio of -186.37 and a beta of 0.80. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.98 and a current ratio of 1.98. The business’s 50 day moving average price is $198.51 and its two-hundred day moving average price is $203.68. Zscaler, Inc. has a fifty-two week low of $84.93 and a fifty-two week high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.08. The business had revenue of $525.00 million during the quarter, compared to the consensus estimate of $507.56 million. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. As a group, analysts forecast that Zscaler, Inc. will post -0.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ZS. Truist Financial reaffirmed a “buy” rating and set a $260.00 price target on shares of Zscaler in a research note on Monday, April 1st. KeyCorp raised Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 target price for the company in a research note on Thursday, April 18th. JMP Securities reissued a “market outperform” rating and set a $270.00 price target on shares of Zscaler in a research note on Friday, March 1st. Barclays lowered their price objective on shares of Zscaler from $259.00 to $240.00 and set an “overweight” rating for the company in a report on Friday, March 1st. Finally, Morgan Stanley increased their target price on shares of Zscaler from $195.00 to $214.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Five analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $230.24.

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.