Victory Capital Management Inc. Increases Holdings in Zscaler, Inc. (NASDAQ:ZS)

Victory Capital Management Inc. raised its position in Zscaler, Inc. (NASDAQ:ZS) by 2.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,369 shares of the company’s stock after acquiring an additional 3,119 shares during the quarter. Victory Capital Management Inc. owned 0.08% of Zscaler worth $26,447,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ZS. Vanguard Group Inc. grew its holdings in shares of Zscaler by 1.5% during 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. 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 worth $86,577,000 after acquiring an additional 29,405 shares during the period. Bank of New York Mellon Corp boosted its stake 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 purchasing an additional 6,821 shares in the last quarter. Polar Capital Holdings Plc bought a new position in Zscaler during the third quarter valued at about $61,681,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of 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 last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Activity at Zscaler

In other news, insider Syam Nair sold 2,893 shares of Zscaler stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $558,782.95. Following the sale, the insider now owns 137,294 shares of the company’s stock, valued at approximately $26,518,336.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the company’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 $408,512.25. Following the sale, the chief executive officer now owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Syam Nair sold 2,893 shares of the firm’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 $558,782.95. Following the transaction, the insider now owns 137,294 shares of the company’s stock, valued at approximately $26,518,336.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,715 shares of company stock worth $4,212,202. Company insiders own 19.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley boosted their price objective on Zscaler from $195.00 to $214.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Rosenblatt Securities raised their price objective on shares of Zscaler from $285.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Citigroup boosted their target price on shares of Zscaler from $235.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $230.00 target price on shares of Zscaler in a research report on Wednesday, April 17th. Finally, KeyCorp raised Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 price target 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $230.24.

Zscaler Stock Down 0.7 %

Shares of NASDAQ:ZS opened at $176.89 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19. The stock’s 50-day moving average is $189.94 and its 200-day moving average is $204.02. Zscaler, Inc. has a 52-week low of $103.62 and a 52-week high of $259.61.

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. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. The firm had revenue of $525.00 million for the quarter, compared to analyst estimates of $507.56 million. On average, sell-side analysts forecast that Zscaler, Inc. will post -0.8 earnings per share for the current fiscal 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.