Sequoia Financial Advisors LLC Makes New Investment in Zscaler, Inc. (NASDAQ:ZS)

Sequoia Financial Advisors LLC purchased a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 43,665 shares of the company's stock, valued at approximately $9,674,000.

Several other hedge funds also recently added to or reduced their stakes in ZS. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Zscaler by 14.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 557,345 shares of the company's stock worth $134,476,000 after acquiring an additional 68,982 shares during the last quarter. AlphaCrest Capital Management LLC purchased a new position in shares of Zscaler during the first quarter worth approximately $244,000. D.A. Davidson & CO. grew its position in shares of Zscaler by 41.6% during the first quarter. D.A. Davidson & CO. now owns 1,130 shares of the company's stock worth $273,000 after acquiring an additional 332 shares during the last quarter. MetLife Investment Management LLC purchased a new position in shares of Zscaler during the first quarter worth approximately $1,232,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Zscaler by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 121,598 shares of the company's stock worth $29,338,000 after acquiring an additional 2,153 shares during the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the 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 $408,512.25. Following the completion of the transaction, the chief executive officer now directly owns 367,152 shares in the company, valued at approximately $70,915,408.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Syam Nair sold 2,893 shares of the firm's stock in a transaction 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 transaction, the insider now directly owns 137,294 shares in the company, valued at $26,518,336.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of the firm's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the transaction, the chief executive officer now owns 367,152 shares in the company, valued at $70,915,408.80. The disclosure for this sale can be found here. Insiders sold a total of 33,715 shares of company stock worth $7,437,172 in the last 90 days. 19.20% of the stock is owned by company insiders.

Analyst Ratings Changes

ZS has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Zscaler from $212.00 to $240.00 and gave the stock a "neutral" rating in a research report on Monday, February 26th. Robert W. Baird lifted their price objective on shares of Zscaler from $255.00 to $265.00 and gave the company an "outperform" rating in a research report on Friday, March 1st. The Goldman Sachs Group lifted their price objective on shares of Zscaler from $189.00 to $215.00 and gave the company a "neutral" rating in a research report on Monday, March 4th. Citigroup lifted their price objective on shares of Zscaler from $235.00 to $265.00 and gave the company a "buy" rating in a research report on Wednesday, January 10th. Finally, Morgan Stanley lifted their price objective on shares of Zscaler from $195.00 to $214.00 and gave the company an "equal weight" rating in a research report on Monday, February 26th. Six research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $230.55.

Zscaler Price Performance

Zscaler stock traded down $4.55 during midday trading on Wednesday, reaching $183.95. 1,553,833 shares of the company were exchanged, compared to its average volume of 2,336,086. The company has a market capitalization of $27.57 billion, a price-to-earnings ratio of -193.63 and a beta of 0.80. The firm's 50-day simple moving average is $215.43 and its 200-day simple moving average is $201.86. Zscaler, Inc. has a 1 year low of $84.93 and a 1 year high of $259.61. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.98 and a current ratio of 1.98.

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

Zscaler Company 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.