Russell Investments Group Ltd. Grows Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Russell Investments Group Ltd. increased its stake in shares of Zscaler, Inc. (NASDAQ:ZS – Get Rating) by 3.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,028 shares of the company’s stock after purchasing an additional 2,147 shares during the period. Russell Investments Group Ltd.’s holdings in Zscaler were worth $7,612,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ZS. Renaissance Technologies LLC purchased a new position in shares of Zscaler during the first quarter valued at approximately $168,365,000. Marshall Wace LLP increased its holdings in Zscaler by 1,278.9% during the third quarter. Marshall Wace LLP now owns 453,939 shares of the company’s stock valued at $74,616,000 after buying an additional 421,019 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Zscaler by 55,282.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 281,895 shares of the company’s stock valued at $31,544,000 after buying an additional 281,386 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in Zscaler by 17.0% during the third quarter. Artisan Partners Limited Partnership now owns 1,865,180 shares of the company’s stock valued at $306,580,000 after buying an additional 271,360 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Zscaler by 238.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 253,595 shares of the company’s stock valued at $41,683,000 after buying an additional 178,585 shares during the last quarter. 45.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 900 shares of Zscaler stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $106.79, for a total transaction of $96,111.00. Following the completion of the sale, the chief executive officer now owns 322,649 shares in the company, valued at approximately $34,455,686.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jagtar Singh Chaudhry sold 900 shares of Zscaler stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $106.79, for a total transaction of $96,111.00. Following the completion of the sale, the chief executive officer now owns 322,649 shares in the company, valued at approximately $34,455,686.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Schlossman sold 3,645 shares of Zscaler stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $106.79, for a total transaction of $389,249.55. Following the sale, the insider now owns 132,553 shares of the company’s stock, valued at approximately $14,155,334.87. The disclosure for this sale can be found here. Insiders sold 16,412 shares of company stock worth $1,752,637 in the last 90 days. 19.80% of the stock is owned by corporate insiders.

Zscaler Price Performance

ZS stock opened at $114.33 on Friday. Zscaler, Inc. has a 12 month low of $84.93 and a 12 month high of $194.21. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 2.16. The company has a 50-day moving average price of $105.44 and a 200 day moving average price of $118.77. The stock has a market cap of $16.59 billion, a PE ratio of -49.93 and a beta of 0.85.

Zscaler (NASDAQ:ZS – Get Rating) last released its quarterly earnings results on Thursday, March 2nd. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. Zscaler had a negative net margin of 24.08% and a negative return on equity of 50.58%. The firm had revenue of $387.60 million during the quarter, compared to analysts’ expectations of $363.80 million. Equities research analysts anticipate that Zscaler, Inc. will post -1.21 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on ZS. BMO Capital Markets upped their target price on shares of Zscaler from $115.00 to $120.00 in a report on Tuesday, May 9th. Citigroup increased their price objective on shares of Zscaler from $145.00 to $148.00 in a research note on Monday, May 8th. KGI Securities downgraded shares of Zscaler from an “outperform” rating to a “neutral” rating in a research report on Wednesday, March 8th. Barclays decreased their price objective on shares of Zscaler from $135.00 to $127.00 in a research report on Friday. Finally, Capital One Financial started coverage on shares of Zscaler in a research report on Friday, March 17th. They set an “equal weight” rating and a $125.00 price objective on the stock. Fourteen analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $167.68.

Zscaler Profile

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Zscaler, Inc engages in the provision of a cloud-based internet security platform. It offers Zero Trust Exchange, Zscaler Client Connector, Zscaler Internet Access, Zscaler Private Access, Zscaler B2B, Zscaler Cloud Protection, and Zscaler Digital Experience. The company was founded by Jagtar Singh Chaudhry and K.