TCW Group Inc. Makes New Investment in Zscaler, Inc. (NASDAQ:ZS)

TCW Group Inc. acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,532 shares of the company’s stock, valued at approximately $2,090,000.

Several other institutional investors have also recently bought and sold shares of the business. TD Asset Management Inc raised its holdings in shares of Zscaler by 181.8% in the first quarter. TD Asset Management Inc now owns 297,500 shares of the company’s stock valued at $59,030,000 after purchasing an additional 191,926 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Zscaler by 244.7% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 157,411 shares of the company’s stock valued at $31,230,000 after purchasing an additional 111,740 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Zscaler by 36.0% in the first quarter. Pacer Advisors Inc. now owns 48,725 shares of the company’s stock valued at $9,668,000 after purchasing an additional 12,905 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Zscaler by 44.1% in the first quarter. Avantax Advisory Services Inc. now owns 5,236 shares of the company’s stock valued at $1,039,000 after purchasing an additional 1,602 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its holdings in shares of Zscaler by 7.4% in the first quarter. Pinnacle Associates Ltd. now owns 35,994 shares of the company’s stock valued at $7,142,000 after purchasing an additional 2,492 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

ZS has been the subject of several analyst reports. Loop Capital increased their target price on shares of Zscaler from $250.00 to $260.00 and gave the company a “hold” rating in a report on Friday, May 30th. Guggenheim restated a “neutral” rating on shares of Zscaler in a report on Friday, May 30th. Scotiabank raised their price objective on shares of Zscaler from $310.00 to $360.00 and gave the stock a “sector outperform” rating in a report on Friday, June 6th. Mizuho raised their price objective on shares of Zscaler from $275.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, June 4th. Finally, Roth Capital restated a “neutral” rating on shares of Zscaler in a report on Wednesday, May 28th. Seven research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $296.82.

Zscaler Price Performance

Shares of Zscaler stock opened at $289.04 on Tuesday. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $318.46. The firm has a market cap of $45.00 billion, a PE ratio of -1,111.69 and a beta of 1.11. The company has a 50 day simple moving average of $292.48 and a two-hundred day simple moving average of $236.15.

Zscaler (NASDAQ:ZS) last announced its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.08. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The business had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. During the same period in the previous year, the business posted $0.88 earnings per share. Zscaler’s revenue for the quarter was up 22.6% on a year-over-year basis. As a group, research analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, insider Robert Schlossman sold 3,174 shares of Zscaler stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $305.07, for a total transaction of $968,292.18. Following the completion of the sale, the insider directly owned 88,970 shares in the company, valued at $27,142,077.90. The trade was a 3.44% 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, insider Syam Nair sold 4,064 shares of Zscaler stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total transaction of $1,234,236.80. Following the sale, the insider owned 106,659 shares of the company’s stock, valued at approximately $32,392,338.30. The trade was a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,793 shares of company stock valued at $58,752,794 over the last quarter. Company insiders own 18.10% of the company’s stock.

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.