Chicago Capital LLC Decreases Holdings in Zscaler, Inc. (NASDAQ:ZS)

Chicago Capital LLC cut its stake in Zscaler, Inc. (NASDAQ:ZS) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,739 shares of the company’s stock after selling 118 shares during the quarter. Chicago Capital LLC’s holdings in Zscaler were worth $1,396,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ZS. Fred Alger Management LLC boosted its holdings in Zscaler by 1,151.0% during the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock valued at $1,773,000 after acquiring an additional 9,542 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in Zscaler by 7.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock valued at $37,495,000 after buying an additional 14,701 shares during the period. Creative Planning raised its position in shares of Zscaler by 7.6% in the 3rd quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after acquiring an additional 10,551 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Zscaler by 11.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after purchasing an additional 37,801 shares in the last quarter. Finally, Zweig DiMenna Associates LLC lifted its position in Zscaler by 29.8% during the fourth quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock valued at $14,061,000 after acquiring an additional 17,900 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on ZS. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price target on shares of Zscaler in a research note on Tuesday, December 3rd. Susquehanna upped their price target on shares of Zscaler from $210.00 to $225.00 and gave the company a “positive” rating in a report on Tuesday, December 3rd. BTIG Research lifted their target price on shares of Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Citigroup lifted their price target on Zscaler from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a research report on Monday, November 18th. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $225.47.

Insider Buying and Selling at Zscaler

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

Zscaler Trading Down 1.3 %

Shares of ZS opened at $200.00 on Tuesday. The firm has a market cap of $30.69 billion, a P/E ratio of -800.00 and a beta of 0.89. The company’s 50-day moving average price is $194.37 and its 200 day moving average price is $187.81. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The business had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The company’s revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.18) earnings per share. Equities research analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current 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.