9,600 Shares in Zscaler, Inc. $ZS Acquired by EMC Capital Management

EMC Capital Management acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,600 shares of the company’s stock, valued at approximately $1,426,000. Zscaler accounts for approximately 0.6% of EMC Capital Management’s portfolio, making the stock its 16th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Zscaler during the 2nd quarter valued at $1,396,028,000. First Trust Advisors LP increased its position in shares of Zscaler by 36.2% in the first quarter. First Trust Advisors LP now owns 3,518,678 shares of the company’s stock worth $493,635,000 after purchasing an additional 935,781 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Zscaler by 43.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,572,358 shares of the company’s stock worth $578,576,000 after purchasing an additional 777,414 shares during the period. AQR Capital Management LLC increased its holdings in Zscaler by 61.8% in the 3rd quarter. AQR Capital Management LLC now owns 1,941,571 shares of the company’s stock valued at $576,083,000 after buying an additional 741,756 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Zscaler during the 2nd quarter worth approximately $102,271,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Trading Down 3.2%

Shares of Zscaler stock opened at $172.73 on Thursday. The firm’s 50 day moving average is $159.43 and its 200 day moving average is $150.39. The firm has a market capitalization of $27.93 billion, a PE ratio of -359.85, a price-to-earnings-growth ratio of 104.98 and a beta of 0.95. Zscaler, Inc. has a 1 year low of $114.63 and a 1 year high of $336.99. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.72.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. HC Wainwright raised shares of Zscaler from a “buy” rating to a “buy” rating in a research note on Monday, May 18th. BMO Capital Markets cut their target price on Zscaler from $210.00 to $178.00 and set an “outperform” rating for the company in a research note on Wednesday, May 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $225.00 target price on shares of Zscaler in a report on Wednesday, August 19th. Scotiabank decreased their price target on Zscaler from $190.00 to $175.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, May 27th. Finally, Robert W. Baird lowered their price target on Zscaler from $265.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Thirty-four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.10.

Insider Activity at Zscaler

In other Zscaler news, CFO Kevin Rubin sold 503 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $173.38, for a total transaction of $87,210.14. Following the sale, the chief financial officer owned 40,895 shares of the company’s stock, valued at approximately $7,090,375.10. The trade was a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Adam Geller sold 2,817 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $122.60, for a total transaction of $345,364.20. Following the sale, the insider directly owned 42,314 shares in the company, valued at approximately $5,187,696.40. The trade was a 6.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 16,772 shares of company stock worth $2,139,799. Corporate insiders own 17.20% of the company’s stock.

Zscaler Profile

Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.

Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.