abrdn plc Boosts Stake in Zscaler, Inc. (NASDAQ:ZS)

abrdn plc increased its stake in Zscaler, Inc. (NASDAQ:ZS) by 101.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,034 shares of the company’s stock after acquiring an additional 15,141 shares during the period. abrdn plc’s holdings in Zscaler were worth $6,654,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Zscaler by 1.5% in the third quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock worth $1,343,810,000 after purchasing an additional 129,090 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Zscaler by 5.6% in the 3rd quarter. Northern Trust Corp now owns 556,446 shares of the company’s stock valued at $86,577,000 after acquiring an additional 29,405 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Zscaler by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 512,094 shares of the company’s stock valued at $79,677,000 after acquiring an additional 6,821 shares during the period. Polar Capital Holdings Plc bought a new position in Zscaler during the 3rd quarter worth approximately $61,681,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Zscaler by 10.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 302,326 shares of the company’s stock worth $66,984,000 after purchasing an additional 27,947 shares during the period. Institutional investors own 46.45% of the company’s stock.

Zscaler Trading Up 1.3 %

Zscaler stock opened at $177.05 on Friday. The business has a fifty day moving average price of $198.51 and a 200-day moving average price of $203.25. Zscaler, Inc. has a 1-year low of $84.93 and a 1-year high of $259.61. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.98 and a quick ratio of 1.98.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.08. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. The business had revenue of $525.00 million for the quarter, compared to analyst estimates of $507.56 million. As a group, equities analysts anticipate that Zscaler, Inc. will post -0.8 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ZS shares. Robert W. Baird raised their target price on shares of Zscaler from $255.00 to $265.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. The Goldman Sachs Group boosted their price objective on shares of Zscaler from $189.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Citigroup increased their target price on shares of Zscaler from $235.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Barclays lowered their price target on Zscaler from $259.00 to $240.00 and set an “overweight” rating for the company in a research report on Friday, March 1st. Finally, KeyCorp upgraded Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 price objective on the stock in a research report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $230.24.

Insider Activity at Zscaler

In related news, Director Karen Blasing sold 7,000 shares of Zscaler stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $250.90, for a total transaction of $1,756,300.00. Following the completion of the sale, the director now owns 40,372 shares of the company’s stock, valued at $10,129,334.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $408,512.25. Following the sale, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at approximately $70,915,408.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karen Blasing sold 7,000 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $250.90, for a total value of $1,756,300.00. Following the completion of the transaction, the director now directly owns 40,372 shares of the company’s stock, valued at approximately $10,129,334.80. The disclosure for this sale can be found here. Insiders have sold a total of 26,715 shares of company stock valued at $5,865,882 in the last ninety days. Company insiders own 19.20% of the company’s stock.

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.