Frontier Capital Management Co. LLC purchased a new stake in Zscaler Inc (NASDAQ:ZS) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 66,663 shares of the company’s stock, valued at approximately $2,719,000. Frontier Capital Management Co. LLC owned 0.06% of Zscaler at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. FMR LLC grew its holdings in Zscaler by 305.1% in the 2nd quarter. FMR LLC now owns 5,260,146 shares of the company’s stock valued at $188,050,000 after buying an additional 3,961,759 shares during the period. BlackRock Inc. lifted its stake in shares of Zscaler by 23,211.1% in the 2nd quarter. BlackRock Inc. now owns 948,061 shares of the company’s stock valued at $33,893,000 after purchasing an additional 943,994 shares in the last quarter. Waddell & Reed Financial Inc. lifted its stake in shares of Zscaler by 602.0% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 410,809 shares of the company’s stock valued at $14,686,000 after purchasing an additional 352,289 shares in the last quarter. DSAM Partners London Ltd acquired a new position in shares of Zscaler in the 2nd quarter valued at about $13,277,000. Finally, Federated Investors Inc. PA lifted its stake in shares of Zscaler by 119.9% in the 2nd quarter. Federated Investors Inc. PA now owns 333,000 shares of the company’s stock valued at $11,905,000 after purchasing an additional 181,600 shares in the last quarter. Institutional investors own 23.07% of the company’s stock.
ZS has been the topic of several research analyst reports. Zacks Investment Research lowered Zscaler from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. BTIG Research lowered Zscaler from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a research note on Monday, September 10th. They noted that the move was a valuation call. Morgan Stanley lifted their price objective on Zscaler from $31.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, September 6th. Needham & Company LLC lifted their price objective on Zscaler from $45.00 to $47.50 and gave the company a “strong-buy” rating in a research note on Thursday, September 6th. Finally, Credit Suisse Group lifted their price objective on Zscaler from $38.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, September 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $37.58.
Zscaler stock opened at $39.42 on Monday. The company has a market cap of $4.72 billion and a P/E ratio of -127.16. Zscaler Inc has a one year low of $24.76 and a one year high of $48.24.
Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Wednesday, September 5th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.04. The company had revenue of $56.20 million for the quarter, compared to analyst estimates of $50.72 million. The business’s revenue was up 53.8% on a year-over-year basis. During the same period last year, the firm posted ($0.07) earnings per share. Analysts predict that Zscaler Inc will post -0.33 earnings per share for the current fiscal year.
In related news, Director Andrew William Fraser Brown sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $40.61, for a total transaction of $1,421,350.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Amit Sinha sold 4,807 shares of the business’s stock in a transaction that occurred on Thursday, October 25th. The stock was sold at an average price of $35.16, for a total value of $169,014.12. The disclosure for this sale can be found here. Insiders have sold a total of 216,193 shares of company stock worth $8,878,109 over the last three months.
Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.
Further Reading: Balanced Fund
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