The Manufacturers Life Insurance Company Raises Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

The Manufacturers Life Insurance Company increased its stake in Zscaler, Inc. (NASDAQ:ZS) by 9.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,969 shares of the company’s stock after purchasing an additional 581 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Zscaler were worth $1,191,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in shares of Zscaler in the second quarter worth $28,000. Asset Dedication LLC grew its holdings in shares of Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after purchasing an additional 166 shares in the last quarter. American Capital Advisory LLC purchased a new position in shares of Zscaler in the second quarter valued at $50,000. Quarry LP raised its stake in Zscaler by 613.0% during the second quarter. Quarry LP now owns 385 shares of the company’s stock valued at $74,000 after purchasing an additional 331 shares in the last quarter. Finally, Central Bank & Trust Co. bought a new position in Zscaler during the second quarter valued at $75,000. Institutional investors own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ZS shares. Morgan Stanley dropped their price objective on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 3rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $240.00 price target on shares of Zscaler in a research note on Tuesday, December 3rd. Scotiabank lifted their target price on Zscaler from $195.00 to $205.00 and gave the company a “sector outperform” rating in a research report on Tuesday, December 3rd. Susquehanna upped their price target on shares of Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $224.84.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $207.92 on Thursday. The stock’s 50-day moving average is $195.63 and its two-hundred day moving average is $186.40. The company has a market cap of $31.90 billion, a price-to-earnings ratio of -831.68 and a beta of 0.82. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61.

Zscaler (NASDAQ:ZS) last posted its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. During the same quarter in the previous year, the business earned ($0.18) earnings per share. The firm’s revenue was up 26.4% compared to the same quarter last year. Equities research analysts anticipate that Zscaler, Inc. will post -0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Michael J. Rich sold 4,813 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $824,370.64. Following the completion of the transaction, the insider now directly owns 103,259 shares of the company’s stock, valued at $17,686,201.52. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Remo Canessa sold 8,455 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the completion of the sale, the chief financial officer now directly owns 231,793 shares in the company, valued at $39,701,505.04. This trade represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,502 shares of company stock valued at $5,256,651. 18.10% of the stock is owned by company insiders.

Zscaler 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.