Objective Capital Management LLC Takes Position in Zscaler, Inc. (NASDAQ:ZS)

Objective Capital Management LLC purchased a new stake in Zscaler, Inc. (NASDAQ:ZS) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,185 shares of the company’s stock, valued at approximately $203,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Zscaler by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock valued at $1,726,307,000 after acquiring an additional 118,002 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Zscaler by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after purchasing an additional 25,181 shares during the last quarter. Federated Hermes Inc. lifted its stake in Zscaler by 18.3% in the 2nd quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock valued at $75,857,000 after purchasing an additional 61,037 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Zscaler by 0.9% in the 1st quarter. Acadian Asset Management LLC now owns 336,197 shares of the company’s stock valued at $64,744,000 after purchasing an additional 2,937 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its stake in Zscaler by 14.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 295,525 shares of the company’s stock valued at $56,797,000 after purchasing an additional 37,137 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Analyst Ratings Changes

ZS has been the subject of several recent analyst reports. UBS Group cut their target price on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. cut their price objective on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Needham & Company LLC cut their price objective on shares of Zscaler from $290.00 to $235.00 and set a “strong-buy” rating for the company in a research report on Wednesday, September 4th. BMO Capital Markets cut their price objective on shares of Zscaler from $208.00 to $197.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Finally, Bank of America downgraded shares of Zscaler from a “buy” rating to a “neutral” rating and dropped their price target for the company from $265.00 to $195.00 in a research report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Zscaler presently has an average rating of “Moderate Buy” and a consensus price target of $216.73.

Zscaler Stock Down 0.5 %

Shares of NASDAQ ZS opened at $195.73 on Friday. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $259.61. The firm has a fifty day simple moving average of $179.05 and a 200 day simple moving average of $181.56. The company has a market capitalization of $29.85 billion, a PE ratio of -489.31 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last posted 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 business had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business’s quarterly revenue was up 30.3% on a year-over-year basis. During the same period last year, the company posted ($0.17) earnings per share. As a group, equities analysts expect that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the transaction, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Robert Schlossman sold 4,947 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $170.22, for a total transaction of $842,078.34. Following the transaction, the insider now directly owns 107,241 shares of the company’s stock, valued at $18,254,563.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the transaction, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $5,256,651 over the last three months. 19.20% of the stock is currently owned by insiders.

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.