Essex Investment Management Co. LLC Purchases 17,934 Shares of Zscaler, Inc. (NASDAQ:ZS)

Essex Investment Management Co. LLC increased its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 256.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,934 shares of the company's stock after purchasing an additional 17,934 shares during the quarter. Zscaler makes up 1.1% of Essex Investment Management Co. LLC's portfolio, making the stock its 19th largest holding. Essex Investment Management Co. LLC's holdings in Zscaler were worth $5,524,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. raised its stake in Zscaler by 5.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 12,038 shares of the company's stock worth $1,873,000 after acquiring an additional 672 shares in the last quarter. Advisor Partners II LLC acquired a new stake in shares of Zscaler during the 3rd quarter worth about $285,000. Park Avenue Securities LLC bought a new position in Zscaler during the 3rd quarter valued at about $268,000. ING Groep NV boosted its position in Zscaler by 48.9% in the third quarter. ING Groep NV now owns 17,724 shares of the company's stock valued at $2,758,000 after buying an additional 5,822 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Zscaler by 8.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 274,379 shares of the company's stock worth $42,691,000 after buying an additional 21,376 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.

Insider Activity

In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the business's stock in a transaction that occurred on Monday, March 18th. The shares were 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 approximately $70,915,408.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Zscaler news, insider Syam Nair sold 2,893 shares of the business's stock in a transaction that occurred on 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 directly owns 137,294 shares of the company's stock, valued at $26,518,336.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 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. Over the last quarter, insiders sold 19,715 shares of company stock valued at $4,212,202. Company insiders own 19.20% of the company's stock.

Zscaler Price Performance

NASDAQ:ZS traded up $2.66 on Friday, hitting $174.62. The company had a trading volume of 1,405,645 shares, compared to its average volume of 1,680,860. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.19. Zscaler, Inc. has a 52 week low of $113.16 and a 52 week high of $259.61. The stock has a market capitalization of $26.18 billion, a price-to-earnings ratio of -183.81 and a beta of 0.85. The firm has a 50 day moving average of $186.32 and a two-hundred day moving average of $204.25.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $525.00 million during the quarter, compared to the consensus estimate of $507.56 million. On average, research analysts anticipate that Zscaler, Inc. will post -0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

ZS has been the subject of several research reports. The Goldman Sachs Group raised 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. Rosenblatt Securities increased their price objective on Zscaler from $285.00 to $290.00 and gave the company a "buy" rating in a research report on Friday, March 1st. Sanford C. Bernstein dropped their target price on Zscaler from $311.00 to $280.00 and set an "outperform" rating for the company in a research report on Friday, March 1st. Cantor Fitzgerald reiterated a "neutral" rating and issued a $230.00 price objective on shares of Zscaler in a research report on Wednesday, April 17th. Finally, Robert W. Baird increased their price objective on shares of Zscaler from $255.00 to $265.00 and gave the company an "outperform" rating in a report on Friday, March 1st. Five analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $230.24.

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.

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