Zscaler, Inc. (NASDAQ:ZS) Shares Bought by SouthState Corp

SouthState Corp lifted its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 15.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,568 shares of the company’s stock after purchasing an additional 3,487 shares during the quarter. SouthState Corp’s holdings in Zscaler were worth $4,542,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Princeton Capital Management LLC grew its position in Zscaler by 3.2% during the third quarter. Princeton Capital Management LLC now owns 23,739 shares of the company’s stock valued at $4,058,000 after acquiring an additional 729 shares during the period. Caprock Group LLC acquired a new position in shares of Zscaler in the 3rd quarter valued at about $210,000. Aviance Capital Partners LLC grew its holdings in shares of Zscaler by 6.7% during the 3rd quarter. Aviance Capital Partners LLC now owns 8,000 shares of the company’s stock worth $1,368,000 after purchasing an additional 500 shares during the period. LMR Partners LLP acquired a new stake in Zscaler during the 3rd quarter worth approximately $1,787,000. Finally, Swiss National Bank raised its holdings in Zscaler by 1.1% in the third quarter. Swiss National Bank now owns 269,200 shares of the company’s stock valued at $46,017,000 after buying an additional 2,900 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insiders Place Their Bets

In related news, insider Robert Schlossman sold 1,435 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the transaction, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. This represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael J. Rich sold 4,813 shares of Zscaler stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the completion of the sale, the insider now directly owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is owned by corporate insiders.

Zscaler Trading Up 0.7 %

Shares of Zscaler stock opened at $202.85 on Tuesday. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $259.61. The business’s 50-day moving average price is $183.11 and its 200-day moving average price is $182.84.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. As a group, sell-side analysts anticipate that Zscaler, Inc. will post -0.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. JMP Securities restated a “market outperform” rating and set a $270.00 target price on shares of Zscaler in a report on Monday, November 4th. Bank of America downgraded Zscaler from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $265.00 to $195.00 in a research report on Wednesday, September 4th. Wells Fargo & Company dropped their target price on Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Cantor Fitzgerald decreased their price target on Zscaler from $200.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Finally, BNP Paribas started coverage on shares of Zscaler in a research note on Tuesday, October 8th. They set a “neutral” rating and a $180.00 price objective on the stock. Ten equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.18.

Zscaler 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.