Allspring Global Investments Holdings LLC Buys 27,947 Shares of Zscaler, Inc. (NASDAQ:ZS)

Allspring Global Investments Holdings LLC grew its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 10.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 302,326 shares of the company's stock after purchasing an additional 27,947 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.20% of Zscaler worth $66,984,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. BluePath Capital Management LLC acquired a new stake in Zscaler during the third quarter worth about $32,000. KB Financial Partners LLC acquired a new stake in shares of Zscaler during the 1st quarter worth approximately $39,000. Coppell Advisory Solutions LLC acquired a new position in Zscaler during the 2nd quarter valued at approximately $45,000. Coppell Advisory Solutions Corp. bought a new position in Zscaler during the 4th quarter worth $45,000. Finally, Point72 Asset Management L.P. acquired a new stake in Zscaler in the second quarter worth $54,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Insiders Place Their Bets

In other Zscaler news, insider Syam Nair sold 2,893 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $558,782.95. Following the transaction, the insider now owns 137,294 shares of the company's stock, valued at $26,518,336.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Syam Nair sold 2,893 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 transaction of $558,782.95. Following the transaction, the insider now 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 available through the SEC website. Also, Director Karen Blasing sold 7,000 shares of the firm's stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $250.90, for a total value of $1,756,300.00. Following the completion of the sale, the director now owns 40,372 shares of the company's stock, valued at $10,129,334.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,715 shares of company stock valued at $7,437,172. Company insiders own 19.20% of the company's stock.

Zscaler Trading Up 0.5 %

Shares of NASDAQ ZS traded up $0.83 during midday trading on Thursday, hitting $184.78. The stock had a trading volume of 1,121,945 shares, compared to its average volume of 2,318,757. The firm has a market cap of $27.69 billion, a P/E ratio of -194.51 and a beta of 0.80. Zscaler, Inc. has a fifty-two week low of $84.93 and a fifty-two week high of $259.61. 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 company's 50-day simple moving average is $214.36 and its 200 day simple moving average is $201.74.

Zscaler (NASDAQ:ZS - Get Free Report) last announced 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. 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 during the quarter, compared to analyst estimates of $507.56 million. Research analysts anticipate that Zscaler, Inc. will post -0.81 EPS for the current year.

Analyst Upgrades and Downgrades

ZS has been the subject of several recent research reports. JMP Securities restated a "market outperform" rating and set a $270.00 price target on shares of Zscaler in a research report on Friday, March 1st. The Goldman Sachs Group lifted their price target on Zscaler from $189.00 to $215.00 and gave the company a "neutral" rating in a report on Monday, March 4th. Susquehanna initiated coverage on Zscaler in a research report on Friday, December 15th. They issued a "positive" rating and a $275.00 target price on the stock. Robert W. Baird boosted their price target on Zscaler from $255.00 to $265.00 and gave the stock an "outperform" rating in a research report on Friday, March 1st. Finally, Truist Financial restated a "buy" rating and set a $260.00 price objective on shares of Zscaler in a research note on Monday, April 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. According to data from MarketBeat.com, Zscaler has a consensus rating of "Moderate Buy" and an average target price of $230.55.

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.