Federated Hermes Inc. Invests $39.25 Million in Zscaler, Inc. (NASDAQ:ZS)

Federated Hermes Inc. bought a new stake in Zscaler, Inc. (NASDAQ:ZS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 177,136 shares of the company’s stock, valued at approximately $39,246,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC acquired a new stake in Zscaler during the 4th quarter valued at approximately $9,674,000. Nordea Investment Management AB lifted its position in Zscaler by 463.5% during the fourth quarter. Nordea Investment Management AB now owns 29,803 shares of the company’s stock valued at $6,629,000 after purchasing an additional 24,514 shares during the period. Vanguard Group Inc. boosted its holdings in Zscaler by 1.5% in the third quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock valued at $1,343,810,000 after purchasing an additional 129,090 shares during the last quarter. AQR Capital Management LLC grew its position in Zscaler by 272.6% during the 3rd quarter. AQR Capital Management LLC now owns 41,894 shares of the company’s stock worth $6,518,000 after purchasing an additional 30,650 shares during the period. Finally, International Assets Investment Management LLC grew its position in Zscaler by 19,012.4% during the 4th quarter. International Assets Investment Management LLC now owns 223,997 shares of the company’s stock worth $49,629,000 after purchasing an additional 222,825 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 Syam Nair sold 2,893 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $558,782.95. Following the sale, the insider now directly owns 137,294 shares in the company, valued at approximately $26,518,336.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Syam Nair sold 2,893 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $558,782.95. Following the completion of the transaction, the insider now owns 137,294 shares of the company’s stock, valued at approximately $26,518,336.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen Blasing sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $236.24, for a total value of $1,653,680.00. Following the completion of the sale, the director now directly owns 39,539 shares in the company, valued at approximately $9,340,693.36. The disclosure for this sale can be found here. Insiders sold a total of 26,715 shares of company stock valued at $5,865,882 over the last quarter. 19.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ZS has been the topic of a number of recent research reports. The Goldman Sachs Group upped their target price on Zscaler from $189.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. BMO Capital Markets dropped their price objective on shares of Zscaler from $268.00 to $255.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. Wedbush boosted their target price on shares of Zscaler from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Needham & Company LLC restated a “strong-buy” rating and set a $290.00 price target on shares of Zscaler in a research report on Friday, March 1st. Finally, Rosenblatt Securities upped their price objective on shares of Zscaler from $285.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Five investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $230.24.

Zscaler Trading Down 2.2 %

Shares of ZS stock opened at $169.21 on Friday. Zscaler, Inc. has a twelve month low of $84.93 and a twelve month high of $259.61. The stock has a market cap of $25.36 billion, a price-to-earnings ratio of -178.12 and a beta of 0.80. The company’s 50-day moving average price is $206.08 and its 200-day moving average price is $203.02. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.19.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.08. The business had revenue of $525.00 million during the quarter, compared to analysts’ expectations of $507.56 million. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. As a group, equities analysts predict that Zscaler, Inc. will post -0.81 earnings per share for the current year.

Zscaler Company 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.