Brooklyn Investment Group Makes New Investment in Zscaler, Inc. (NASDAQ:ZS)

Brooklyn Investment Group bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 640 shares of the company’s stock, valued at approximately $109,000.

Other institutional investors have also recently made changes to their positions in the company. D.A. Davidson & CO. increased its position in Zscaler by 27.0% during the 3rd quarter. D.A. Davidson & CO. now owns 1,936 shares of the company’s stock valued at $331,000 after buying an additional 411 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Zscaler by 9.1% during the third quarter. The Manufacturers Life Insurance Company now owns 6,969 shares of the company’s stock valued at $1,191,000 after buying an additional 581 shares during the last quarter. Qsemble Capital Management LP increased its position in shares of Zscaler by 2.8% during the third quarter. Qsemble Capital Management LP now owns 6,417 shares of the company’s stock valued at $1,097,000 after acquiring an additional 173 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in Zscaler by 16.7% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 6,962 shares of the company’s stock valued at $1,190,000 after purchasing an additional 994 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Zscaler by 22.0% in the 3rd quarter. Fisher Asset Management LLC now owns 23,733 shares of the company’s stock worth $4,057,000 after purchasing an additional 4,282 shares in the last quarter. Institutional investors own 46.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on ZS shares. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 target price on shares of Zscaler in a research report on Wednesday, September 4th. Loop Capital lowered their price objective on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, September 4th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $190.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. Piper Sandler reduced their price target on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Finally, BTIG Research raised their price objective on shares of Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $220.29.

Insiders Place Their Bets

In related news, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. The trade was a 1.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael J. Rich sold 4,813 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $824,370.64. Following the completion of the sale, the insider now owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock worth $5,256,651 over the last 90 days. Company insiders own 19.20% of the company’s stock.

Zscaler Price Performance

Zscaler stock opened at $204.96 on Thursday. The firm has a 50-day moving average of $188.06 and a two-hundred day moving average of $184.21. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $259.61.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. Zscaler’s revenue was up 30.3% compared to the same quarter last year. Equities analysts forecast that Zscaler, Inc. will post -0.95 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.