Ocean Capital Management LLC Acquires Shares of 2,376 Zscaler, Inc. (NASDAQ:ZS)

Ocean Capital Management LLC bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,376 shares of the company’s stock, valued at approximately $526,000. Zscaler accounts for 0.2% of Ocean Capital Management LLC’s investment portfolio, making the stock its 28th largest position.

Several other large investors also recently modified their holdings of ZS. Mirae Asset Global Investments Co. Ltd. increased its position in Zscaler by 14.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 557,345 shares of the company’s stock valued at $134,476,000 after purchasing an additional 68,982 shares during the period. AlphaCrest Capital Management LLC bought a new stake in shares of Zscaler during the 1st quarter valued at about $244,000. D.A. Davidson & CO. increased its position in shares of Zscaler by 41.6% during the first quarter. D.A. Davidson & CO. now owns 1,130 shares of the company’s stock valued at $273,000 after buying an additional 332 shares during the period. MetLife Investment Management LLC bought a new position in Zscaler in the first quarter worth about $1,232,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Zscaler by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 121,598 shares of the company’s stock worth $29,338,000 after buying an additional 2,153 shares during the period. 46.45% of the stock is owned by institutional investors.

Zscaler Stock Down 0.4 %

Shares of NASDAQ:ZS opened at $192.63 on Friday. 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 12 month low of $84.93 and a 12 month high of $259.61. The firm’s 50-day moving average is $224.86 and its 200 day moving average is $199.64.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, topping 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 firm had revenue of $525.00 million for the quarter, compared to the consensus estimate of $507.56 million. As a group, sell-side analysts expect that Zscaler, Inc. will post -0.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on ZS shares. KeyCorp started coverage on Zscaler in a research note on Wednesday, January 17th. They set a “sector weight” rating for the company. Oppenheimer increased their price target on shares of Zscaler from $245.00 to $290.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 3rd. Rosenblatt Securities boosted their price objective on Zscaler from $285.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Sanford C. Bernstein cut their price target on Zscaler from $311.00 to $280.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. Finally, Needham & Company LLC restated a “strong-buy” rating and issued a $290.00 price objective on shares of Zscaler in a research report on Friday, March 1st. Six equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Zscaler has an average rating of “Moderate Buy” and a consensus price target of $230.55.

Insider Transactions at Zscaler

In other Zscaler news, insider Syam Nair sold 2,893 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 137,294 shares in the company, valued at approximately $26,518,336.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Syam Nair sold 2,893 shares of Zscaler stock in a transaction 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 in the company, valued at approximately $26,518,336.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $408,512.25. Following the sale, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,715 shares of company stock worth $8,909,342. 19.20% of the stock is currently owned by insiders.

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.