Westfield Capital Management Co. LP Buys 100,814 Shares of Zscaler, Inc. (NASDAQ:ZS)

Westfield Capital Management Co. LP grew its stake in Zscaler, Inc. (NASDAQ:ZS) by 33.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 399,516 shares of the company’s stock after acquiring an additional 100,814 shares during the quarter. Westfield Capital Management Co. LP owned 0.26% of Zscaler worth $68,293,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ZS. Champlain Investment Partners LLC increased its position in shares of Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after acquiring an additional 283,540 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Zscaler by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock worth $95,335,000 after purchasing an additional 25,181 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Zscaler by 18.3% in the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock worth $75,857,000 after purchasing an additional 61,037 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Zscaler by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock valued at $60,696,000 after purchasing an additional 16,634 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its position in shares of Zscaler by 14.4% during the second quarter. Ensign Peak Advisors Inc now owns 295,525 shares of the company’s stock valued at $56,797,000 after buying an additional 37,137 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZS has been the topic of a number of recent analyst reports. Robert W. Baird dropped their price target on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a report 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. Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 target price on shares of Zscaler in a research note on Wednesday, September 4th. JPMorgan Chase & Co. lowered their price target on Zscaler from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. Finally, Loop Capital cut their price objective on Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Ten research 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $218.55.

Zscaler Trading Up 1.8 %

Zscaler stock opened at $210.96 on Friday. The firm’s 50 day moving average price is $186.49 and its 200-day moving average price is $183.60. 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 results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.09. The business had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.17) EPS. On average, equities analysts forecast that Zscaler, Inc. will post -0.95 EPS for the current year.

Insiders Place Their Bets

In other Zscaler news, CFO Remo Canessa sold 8,455 shares of Zscaler stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the completion of the transaction, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at $39,701,505.04. This trade represents a 3.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert Schlossman sold 1,435 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the sale, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. This represents a 1.34 % 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 valued at $5,256,651 in the last quarter. 19.20% of the stock is currently owned by insiders.

Zscaler Company 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.