EMC Capital Management Takes Position in Zscaler, Inc. $ZS

Key Points

• EMC Capital Management acquired 9,600 Zscaler shares worth approximately $1.43 million during the second quarter, making Zscaler its 16th-largest holding and 0.6% of its portfolio.
• Institutional investors and hedge funds own 46.45% of Zscaler, while insiders own 17.20%. Insiders sold 16,772 shares worth $2.14 million over the past 90 days, including sales by the CEO and CFO.
• Analysts remain broadly positive, with 34 Buy ratings, six Holds and one Sell; Zscaler has a consensus “Moderate Buy” rating and a $213.10 target price, compared with a recent opening price of $172.73.

EMC Capital Management acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 9,600 shares of the company's stock, valued at approximately $1,426,000. Zscaler comprises 0.6% of EMC Capital Management's investment portfolio, making the stock its 16th largest holding.

Other hedge funds have also bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund increased its position in Zscaler by 1.4% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,569 shares of the company's stock worth $770,000 after buying an additional 36 shares during the last quarter. Parallel Advisors LLC raised its stake in Zscaler by 10.9% in the third quarter. Parallel Advisors LLC now owns 397 shares of the company's stock valued at $119,000 after buying an additional 39 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Zscaler by 7.5% in the second quarter. Smartleaf Asset Management LLC now owns 648 shares of the company's stock valued at $204,000 after buying an additional 45 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Zscaler by 2.6% in the third quarter. Larson Financial Group LLC now owns 2,040 shares of the company's stock valued at $611,000 after buying an additional 52 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of Zscaler by 6.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 976 shares of the company's stock worth $292,000 after acquiring an additional 56 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Zscaler

In other news, CFO Kevin Rubin sold 503 shares of Zscaler stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $173.38, for a total transaction of $87,210.14. Following the completion of the sale, the chief financial officer owned 40,895 shares of the company's stock, valued at approximately $7,090,375.10. This trade represents a 1.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jagtar Singh Chaudhry sold 2,878 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $126.43, for a total transaction of $363,865.54. Following the completion of the sale, the chief executive officer directly owned 343,038 shares of the company's stock, valued at approximately $43,370,294.34. The trade was a 0.83% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 16,772 shares of company stock worth $2,139,799 over the last ninety days. Corporate insiders own 17.20% of the company's stock.

Wall Street Analyst Weigh In

ZS has been the topic of a number of recent analyst reports. Guggenheim reissued a "buy" rating and set a $214.00 target price on shares of Zscaler in a report on Monday, August 24th. Citigroup reaffirmed a "market outperform" rating on shares of Zscaler in a research report on Wednesday, May 27th. Wells Fargo & Company upped their price objective on shares of Zscaler from $180.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, August 17th. Scotiabank dropped their price objective on shares of Zscaler from $190.00 to $175.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, May 27th. Finally, Weiss Ratings upgraded shares of Zscaler from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, August 27th. Thirty-four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $213.10.

Zscaler Stock Performance

ZS opened at $172.73 on Thursday. The business has a fifty day simple moving average of $159.43 and a 200 day simple moving average of $150.39. The company has a market capitalization of $27.93 billion, a PE ratio of -359.85, a price-to-earnings-growth ratio of 104.98 and a beta of 0.95. Zscaler, Inc. has a 1 year low of $114.63 and a 1 year high of $336.99. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.86.

About Zscaler

Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.

Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.

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