Empowered Funds LLC Raises Holdings in Zscaler, Inc. (NASDAQ:ZS)

Empowered Funds LLC lifted its position in Zscaler, Inc. (NASDAQ:ZS) by 3.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,578 shares of the company’s stock after purchasing an additional 665 shares during the quarter. Empowered Funds LLC’s holdings in Zscaler were worth $3,347,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ZS. Vanguard Group Inc. lifted its position in Zscaler by 1.3% during the first quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock valued at $1,726,307,000 after purchasing an additional 118,002 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Zscaler by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after buying an additional 25,181 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Zscaler by 18.3% in the 2nd quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock valued at $75,857,000 after acquiring an additional 61,037 shares during the last quarter. Ensign Peak Advisors Inc increased its stake in Zscaler by 14.4% during the second quarter. Ensign Peak Advisors Inc now owns 295,525 shares of the company’s stock worth $56,797,000 after acquiring an additional 37,137 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in Zscaler by 13,498.6% during the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock valued at $48,769,000 after purchasing an additional 283,201 shares during the period. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. JMP Securities reiterated a “market outperform” rating and issued a $270.00 target price on shares of Zscaler in a report on Monday, November 4th. Susquehanna reiterated a “positive” rating and set a $210.00 price objective on shares of Zscaler in a research report on Thursday, September 5th. Wedbush lowered their target price on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Barclays cut their price target on shares of Zscaler from $230.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. Finally, BMO Capital Markets decreased their price objective on shares of Zscaler from $208.00 to $197.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and a consensus target price of $217.18.

Insider Activity

In related news, Director Andrew William Fraser Brown sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the sale, the director now owns 25,907 shares in the company, valued at $4,510,408.70. This represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael J. Rich sold 4,813 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the completion of the transaction, the insider now owns 103,259 shares in the company, valued at approximately $17,686,201.52. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock worth $5,256,651 over the last 90 days. 19.20% of the stock is currently owned by corporate insiders.

Zscaler Stock Up 0.7 %

Shares of ZS opened at $202.85 on Tuesday. The company has a 50 day moving average of $183.11 and a two-hundred day moving average of $182.84. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $259.61. The company has a market cap of $30.93 billion, a price-to-earnings ratio of -507.11 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same quarter last year, the firm earned ($0.17) EPS. The business’s quarterly revenue was up 30.3% on a year-over-year basis. On average, sell-side analysts expect that Zscaler, Inc. will post -0.97 EPS for the current year.

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.