Assenagon Asset Management S.A. Cuts Position in Zscaler, Inc. (NASDAQ:ZS)

Assenagon Asset Management S.A. decreased its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 41.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,643 shares of the company's stock after selling 6,194 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Zscaler were worth $1,915,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. B. Riley Wealth Advisors Inc. grew its stake in shares of Zscaler by 1.7% in the third quarter. B. Riley Wealth Advisors Inc. now owns 3,761 shares of the company's stock worth $585,000 after purchasing an additional 63 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Zscaler by 2.7% in the 1st quarter. International Assets Investment Management LLC now owns 2,558 shares of the company's stock worth $617,000 after acquiring an additional 67 shares in the last quarter. Xponance Inc. lifted its stake in Zscaler by 0.6% in the 3rd quarter. Xponance Inc. now owns 12,411 shares of the company's stock worth $1,931,000 after acquiring an additional 68 shares in the last quarter. Bouvel Investment Partners LLC lifted its stake in Zscaler by 0.5% in the 3rd quarter. Bouvel Investment Partners LLC now owns 16,641 shares of the company's stock worth $2,589,000 after acquiring an additional 76 shares in the last quarter. Finally, CWM LLC lifted its stake in Zscaler by 13.8% in the 3rd quarter. CWM LLC now owns 637 shares of the company's stock worth $99,000 after acquiring an additional 77 shares in the last quarter. Institutional investors own 46.45% of the company's stock.

Wall Street Analysts Forecast Growth

ZS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on Zscaler from $212.00 to $240.00 and gave the company a "neutral" rating in a report on Monday, February 26th. Truist Financial reissued a "buy" rating and issued a $260.00 target price on shares of Zscaler in a research note on Monday. Robert W. Baird lifted their price objective on Zscaler from $255.00 to $265.00 and gave the stock an "outperform" rating in a research note on Friday, March 1st. Sanford C. Bernstein decreased their target price on Zscaler from $311.00 to $280.00 and set an "outperform" rating for the company in a research note on Friday, March 1st. Finally, JMP Securities reissued a "market outperform" rating and issued a $270.00 target price on shares of Zscaler in a research note on Friday, March 1st. Six research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $230.55.

Insider Activity

In other news, Director Karen Blasing sold 7,000 shares of the firm's stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $224.47, for a total value of $1,571,290.00. Following the transaction, the director now directly owns 35,706 shares of the company's stock, valued at $8,014,925.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Karen Blasing sold 7,000 shares of the firm's stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $224.47, for a total value of $1,571,290.00. Following the transaction, the director now directly owns 35,706 shares of the company's stock, valued at $8,014,925.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jagtar Singh Chaudhry sold 2,115 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 $408,512.25. Following the completion of the transaction, the chief executive officer now directly owns 367,152 shares in the company, valued at $70,915,408.80. The disclosure for this sale can be found here. Insiders have sold a total of 33,715 shares of company stock worth $7,437,172 over the last 90 days. 19.20% of the stock is currently owned by company insiders.

Zscaler Stock Performance

ZS stock traded up $1.33 during midday trading on Friday, hitting $183.34. 1,808,782 shares of the stock traded hands, compared to its average volume of 2,375,309. The firm has a market cap of $27.48 billion, a P/E ratio of -192.99 and a beta of 0.80. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.98 and a quick ratio of 1.98. The stock's fifty day simple moving average is $218.74 and its 200-day simple moving average is $200.83. Zscaler, Inc. has a 1-year low of $84.93 and a 1-year high of $259.61.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.08. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. The company had revenue of $525.00 million for the quarter, compared to analyst estimates of $507.56 million. On average, analysts expect that Zscaler, Inc. will post -0.81 earnings per share for the current year.

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.