Del Sette Capital Management LLC Acquires New Position in Zscaler, Inc. (NASDAQ:ZS)

Del Sette Capital Management LLC bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,602 shares of the company's stock, valued at approximately $1,463,000. Zscaler makes up about 1.3% of Del Sette Capital Management LLC's investment portfolio, making the stock its 18th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of ZS. Convergence Investment Partners LLC lifted its position in Zscaler by 6.5% in the fourth quarter. Convergence Investment Partners LLC now owns 1,891 shares of the company's stock valued at $419,000 after acquiring an additional 115 shares during the last quarter. Pursue Wealth Partners LLC lifted its position in Zscaler by 0.4% in the fourth quarter. Pursue Wealth Partners LLC now owns 22,051 shares of the company's stock valued at $4,886,000 after acquiring an additional 83 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Zscaler in the fourth quarter valued at $1,846,000. Kovack Advisors Inc. lifted its position in Zscaler by 10.6% in the fourth quarter. Kovack Advisors Inc. now owns 1,975 shares of the company's stock valued at $438,000 after acquiring an additional 189 shares during the last quarter. Finally, Motley Fool Asset Management LLC lifted its position in Zscaler by 7.0% in the fourth quarter. Motley Fool Asset Management LLC now owns 3,978 shares of the company's stock valued at $881,000 after acquiring an additional 261 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.

Insider Activity at Zscaler

In related news, insider Syam Nair sold 2,893 shares of the firm's stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $558,782.95. Following the completion of the sale, the insider now directly 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 through the SEC website. In other Zscaler news, Director Karen Blasing sold 7,000 shares of the firm's stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $250.90, for a total transaction of $1,756,300.00. Following the completion of the transaction, the director now directly owns 40,372 shares of the company's stock, valued at approximately $10,129,334.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 of the company's stock, valued at $26,518,336.10. The disclosure for this sale can be found here. In the last three months, insiders sold 26,715 shares of company stock valued at $5,865,882. Corporate insiders own 19.20% of the company's stock.

Zscaler Stock Up 1.3 %

ZS traded up $2.24 during trading hours on Friday, reaching $177.05. 1,341,755 shares of the stock traded hands, compared to its average volume of 1,530,924. The firm's fifty day simple moving average is $198.51 and its two-hundred day simple moving average is $203.68. The company has a market cap of $26.54 billion, a price-to-earnings ratio of -186.37 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.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, beating analysts' consensus estimates of ($0.24) by $0.08. The business had revenue of $525.00 million during the quarter, compared to analyst estimates of $507.56 million. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. As a group, analysts forecast that Zscaler, Inc. will post -0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald reissued a "neutral" rating and issued a $230.00 price target on shares of Zscaler in a research report on Wednesday, April 17th. JPMorgan Chase & Co. upped their target price on shares of Zscaler from $212.00 to $240.00 and gave the company a "neutral" rating in a report on Monday, February 26th. JMP Securities reaffirmed a "market outperform" rating and issued a $270.00 target price on shares of Zscaler in a report on Friday, March 1st. Macquarie reaffirmed an "outperform" rating and issued a $245.00 target price on shares of Zscaler in a report on Tuesday, March 19th. Finally, Barclays reduced their target price on shares of Zscaler from $259.00 to $240.00 and set an "overweight" rating for the company in a report on Friday, March 1st. Five research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $230.24.

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.