Victory Capital Management Inc. Acquires 3,119 Shares of Zscaler, Inc. (NASDAQ:ZS)

Victory Capital Management Inc. raised its holdings in Zscaler, Inc. (NASDAQ:ZS) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 119,369 shares of the company’s stock after purchasing an additional 3,119 shares during the quarter. Victory Capital Management Inc.’s holdings in Zscaler were worth $26,447,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Polar Capital Holdings Plc acquired a new stake in Zscaler during the third quarter worth about $61,681,000. International Assets Investment Management LLC increased its stake in Zscaler by 19,012.4% in the fourth quarter. International Assets Investment Management LLC now owns 223,997 shares of the company’s stock valued at $49,629,000 after acquiring an additional 222,825 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in Zscaler by 370.3% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 249,310 shares of the company’s stock valued at $55,660,000 after purchasing an additional 196,296 shares in the last quarter. Federated Hermes Inc. bought a new stake in Zscaler during the fourth quarter worth $39,246,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Zscaler by 1.5% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insider Transactions at Zscaler

In other Zscaler news, insider Syam Nair sold 2,893 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $558,782.95. Following the completion of the sale, the insider now owns 137,294 shares of the company’s stock, valued at $26,518,336.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Zscaler news, insider Syam Nair sold 2,893 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $558,782.95. Following the transaction, the insider now directly owns 137,294 shares of the company’s stock, valued at $26,518,336.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Remo Canessa sold 7,707 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $1,488,607.05. Following the sale, the chief financial officer now directly owns 255,943 shares of the company’s stock, valued at $49,435,390.45. The disclosure for this sale can be found here. Insiders have sold 19,715 shares of company stock valued at $4,212,202 in the last 90 days. 19.20% of the stock is currently owned by corporate insiders.

Zscaler Price Performance

Shares of ZS opened at $176.89 on Wednesday. Zscaler, Inc. has a 52-week low of $103.62 and a 52-week high of $259.61. The business’s 50 day moving average price is $189.94 and its two-hundred day moving average price is $204.02. 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 released its earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. The company had revenue of $525.00 million for the quarter, compared to the consensus estimate of $507.56 million. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. Research analysts forecast that Zscaler, Inc. will post -0.8 EPS for the current year.

Analyst Upgrades and Downgrades

ZS has been the subject of several recent analyst reports. Cantor Fitzgerald restated a “neutral” rating and set a $230.00 price objective on shares of Zscaler in a research report on Wednesday, April 17th. Needham & Company LLC restated a “strong-buy” rating and issued a $290.00 price target on shares of Zscaler in a research note on Friday, March 1st. KeyCorp upgraded shares of Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 price objective for the company in a research report on Thursday, April 18th. Rosenblatt Securities raised their target price on shares of Zscaler from $285.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, BMO Capital Markets lowered their price target on shares of Zscaler from $268.00 to $255.00 and set an “outperform” rating for the company in a report on Friday, March 1st. Five research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $230.24.

About Zscaler

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.