HighTower Advisors LLC Decreases Position in Zscaler, Inc. (NASDAQ:ZS)

HighTower Advisors LLC lessened its holdings in shares of Zscaler, Inc. (NASDAQ:ZS – Get Rating) by 7.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,117 shares of the company’s stock after selling 3,801 shares during the period. HighTower Advisors LLC’s holdings in Zscaler were worth $5,057,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Zscaler by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 7,940,800 shares of the company’s stock valued at $1,305,230,000 after acquiring an additional 162,289 shares during the period. Artisan Partners Limited Partnership increased its position in shares of Zscaler by 17.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 1,865,180 shares of the company’s stock valued at $306,580,000 after acquiring an additional 271,360 shares during the period. Renaissance Technologies LLC acquired a new stake in Zscaler during the 1st quarter worth about $168,365,000. Mirae Asset Global Investments Co. Ltd. grew its position in Zscaler by 14.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 557,345 shares of the company’s stock worth $134,476,000 after purchasing an additional 68,982 shares during the period. Finally, Marshall Wace LLP grew its position in Zscaler by 1,278.9% during the 3rd quarter. Marshall Wace LLP now owns 453,939 shares of the company’s stock worth $74,616,000 after purchasing an additional 421,019 shares during the period. Hedge funds and other institutional investors own 45.33% of the company’s stock.

Zscaler Stock Performance

Zscaler stock opened at $125.27 on Friday. Zscaler, Inc. has a twelve month low of $84.93 and a twelve month high of $194.21. The stock’s fifty day simple moving average is $106.21 and its 200-day simple moving average is $117.91. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 2.16.

Zscaler (NASDAQ:ZS – Get Rating) last posted its quarterly earnings data on Thursday, March 2nd. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.08. Zscaler had a negative return on equity of 50.58% and a negative net margin of 24.08%. The business had revenue of $387.60 million for the quarter, compared to analyst estimates of $363.80 million. On average, analysts expect that Zscaler, Inc. will post -1.19 EPS for the current year.

Insider Activity at Zscaler

In related news, insider Robert Schlossman sold 3,645 shares of the stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $106.79, for a total value of $389,249.55. Following the transaction, the insider now owns 132,553 shares of the company’s stock, valued at $14,155,334.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Zscaler news, COO Dali Rajic sold 5,638 shares of the company’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $106.79, for a total value of $602,082.02. Following the completion of the transaction, the chief operating officer now owns 291,182 shares in the company, valued at $31,095,325.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Schlossman sold 3,645 shares of the company’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $106.79, for a total transaction of $389,249.55. Following the completion of the transaction, 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 have sold 16,412 shares of company stock valued at $1,752,637 over the last quarter. 19.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ZS shares. 888 reaffirmed a “maintains” rating on shares of Zscaler in a research report on Tuesday, May 9th. Cantor Fitzgerald dropped their target price on Zscaler from $160.00 to $140.00 in a research report on Friday, March 3rd. Needham & Company LLC restated a “strong-buy” rating and set a $210.00 target price on shares of Zscaler in a research report on Tuesday, April 11th. Barclays lowered their price objective on Zscaler from $135.00 to $127.00 in a report on Friday, May 12th. Finally, The Goldman Sachs Group began coverage on Zscaler in a report on Tuesday, February 14th. They issued a “neutral” rating and a $148.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Zscaler presently has an average 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.