Zweig DiMenna Associates LLC Makes New $8.86 Million Investment in Zscaler, Inc. (NASDAQ:ZS)

Zweig DiMenna Associates LLC purchased a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 40,000 shares of the company's stock, valued at approximately $8,862,000.

Other hedge funds have also recently bought and sold shares of the company. BluePath Capital Management LLC purchased a new position in Zscaler in the third quarter valued at approximately $32,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Zscaler during the second quarter valued at approximately $45,000. KB Financial Partners LLC purchased a new stake in shares of Zscaler during the first quarter valued at approximately $39,000. Point72 Asset Management L.P. purchased a new stake in shares of Zscaler during the second quarter valued at approximately $54,000. Finally, Allworth Financial LP raised its stake in shares of Zscaler by 175.4% during the fourth quarter. Allworth Financial LP now owns 380 shares of the company's stock valued at $84,000 after purchasing an additional 242 shares during the period. Hedge funds and other institutional investors own 46.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ZS. Macquarie reiterated an "outperform" rating and set a $245.00 price objective on shares of Zscaler in a research note on Tuesday, March 19th. Oppenheimer raised their price target on shares of Zscaler from $245.00 to $290.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 3rd. BMO Capital Markets decreased their price target on shares of Zscaler from $268.00 to $255.00 and set an "outperform" rating for the company in a research report on Friday, March 1st. Citigroup raised their price target on shares of Zscaler from $235.00 to $265.00 and gave the stock a "buy" rating in a research report on Wednesday, January 10th. Finally, Cantor Fitzgerald reissued a "neutral" rating and set a $230.00 price target on shares of Zscaler in a research report on Wednesday, March 27th. Six analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Zscaler currently has an average rating of "Moderate Buy" and a consensus price target of $230.55.

Insider Buying and Selling

In related news, Director Karen Blasing sold 7,000 shares of Zscaler stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $224.47, for a total value of $1,571,290.00. Following the transaction, the director now owns 35,706 shares of the company's stock, valued at approximately $8,014,925.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Zscaler news, insider Syam Nair sold 2,893 shares of Zscaler 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Karen Blasing sold 7,000 shares of Zscaler 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 in the company, valued at approximately $8,014,925.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,715 shares of company stock valued at $7,437,172. 19.20% of the stock is owned by corporate insiders.

Zscaler Price Performance

Zscaler stock traded up $1.33 during midday trading on Friday, hitting $183.34. The company's stock had a trading volume of 1,807,994 shares, compared to its average volume of 1,753,955. 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 price is $218.74 and its 200-day moving average price is $201.48. Zscaler, Inc. has a 12 month low of $84.93 and a 12 month high of $259.61. The company has a market capitalization of $27.48 billion, a PE ratio of -192.99 and a beta of 0.80.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.08. The firm had revenue of $525.00 million for the quarter, compared to analysts' expectations of $507.56 million. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. Analysts anticipate that Zscaler, Inc. will post -0.81 earnings per share for the current fiscal 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.