Highland Capital Management LLC Has $894,000 Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Highland Capital Management LLC reduced its position in Zscaler, Inc. (NASDAQ:ZS) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,230 shares of the company’s stock after selling 189 shares during the period. Highland Capital Management LLC’s holdings in Zscaler were worth $894,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ZS. Vanguard Group Inc. lifted its stake in shares of Zscaler by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock valued at $1,726,307,000 after purchasing an additional 118,002 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Zscaler by 19.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 619,293 shares of the company’s stock worth $119,294,000 after buying an additional 102,616 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Zscaler by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock worth $95,335,000 after acquiring an additional 25,181 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of Zscaler by 18.3% during the 2nd quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock valued at $75,857,000 after acquiring an additional 61,037 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Zscaler by 0.9% in the 1st quarter. Acadian Asset Management LLC now owns 336,197 shares of the company’s stock valued at $64,744,000 after acquiring an additional 2,937 shares in the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ZS. JMP Securities reiterated a “market outperform” rating and set a $270.00 price target on shares of Zscaler in a report on Wednesday, September 4th. Bank of America lowered shares of Zscaler from a “buy” rating to a “neutral” rating and lowered their target price for the company from $265.00 to $195.00 in a research note on Wednesday, September 4th. BTIG Research dropped their target price on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Piper Sandler decreased their price target on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, September 4th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $190.00 price objective on shares of Zscaler in a research note on Wednesday, September 4th. Ten investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.73.

Insider Buying and Selling

In related news, CEO Jagtar Singh Chaudhry sold 2,852 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 value of $488,490.56. Following the completion of the sale, the chief executive officer now owns 361,432 shares of the company’s stock, valued at $61,906,072.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Remo Canessa sold 8,455 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $1,448,172.40. Following the sale, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at $39,701,505.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock worth $5,256,651 in the last 90 days. Corporate insiders own 19.20% of the company’s stock.

Zscaler Stock Up 0.6 %

NASDAQ:ZS opened at $184.96 on Friday. The firm has a market cap of $27.96 billion, a PE ratio of -362.67 and a beta of 0.82. Zscaler, Inc. has a 12 month low of $152.60 and a 12 month high of $259.61. The company’s 50-day moving average price is $180.90 and its two-hundred day moving average price is $180.70.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. During the same period in the prior year, the company earned ($0.17) EPS. Zscaler’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, research analysts expect that Zscaler, Inc. will post -0.95 EPS for the current fiscal year.

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.