Zweig DiMenna Associates LLC Acquires 17,900 Shares of Zscaler, Inc. (NASDAQ:ZS)

Zweig DiMenna Associates LLC raised its holdings in Zscaler, Inc. (NASDAQ:ZS) by 29.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,941 shares of the company’s stock after buying an additional 17,900 shares during the period. Zscaler comprises approximately 1.1% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 27th biggest holding. Zweig DiMenna Associates LLC owned approximately 0.05% of Zscaler worth $14,061,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ZS. Champlain Investment Partners LLC grew its position in Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after buying an additional 283,540 shares in the last quarter. International Assets Investment Management LLC grew its position in Zscaler by 13,498.6% during the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock worth $48,769,000 after buying an additional 283,201 shares in the last quarter. GuoLine Advisory Pte Ltd acquired a new stake in Zscaler during the third quarter worth approximately $32,660,000. Westfield Capital Management Co. LP grew its position in Zscaler by 33.8% during the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after buying an additional 100,814 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Zscaler by 59.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company’s stock worth $34,421,000 after buying an additional 71,297 shares in the last quarter. Institutional investors own 46.45% of the company’s stock.

Wall Street Analysts Forecast Growth

ZS has been the topic of a number of research analyst reports. KeyCorp raised their target price on Zscaler from $245.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Piper Sandler raised their target price on Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, December 3rd. Guggenheim reaffirmed a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. JPMorgan Chase & Co. upped their target price on Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Finally, Jefferies Financial Group increased their target price on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Zscaler presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.47.

Insider Activity at Zscaler

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $741,784.96. Following the sale, the chief financial officer now directly owns 220,635 shares in the company, valued at approximately $44,197,603.20. This trade represents a 1.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Syam Nair sold 3,682 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the sale, the insider now owns 142,866 shares in the company, valued at approximately $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,248 shares of company stock valued at $2,052,879 in the last 90 days. Corporate insiders own 18.10% of the company’s stock.

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $195.09 on Friday. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $259.61. The firm has a market capitalization of $29.93 billion, a P/E ratio of -783.23 and a beta of 0.87. The stock has a 50 day moving average price of $195.21 and a 200-day moving average price of $187.91.

Zscaler (NASDAQ:ZS) last announced its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm had revenue of $628.00 million during the quarter, compared to analyst estimates of $605.51 million. During the same quarter in the prior year, the company earned ($0.18) EPS. The business’s revenue was up 26.4% compared to the same quarter last year. On average, equities analysts forecast that Zscaler, Inc. will post -0.16 EPS 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.