Metis Global Partners LLC Acquires New Shares in Zscaler, Inc. (NASDAQ:ZS)

Metis Global Partners LLC acquired a new stake in Zscaler, Inc. (NASDAQ:ZS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,269 shares of the company’s stock, valued at approximately $229,000.

Other large investors also recently added to or reduced their stakes in the company. Fred Alger Management LLC lifted its stake in Zscaler by 1,151.0% during the third quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock worth $1,773,000 after purchasing an additional 9,542 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Zscaler by 11.0% during 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. Zweig DiMenna Associates LLC lifted its stake in Zscaler by 29.8% during the fourth quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock worth $14,061,000 after purchasing an additional 17,900 shares in the last quarter. Baader Bank Aktiengesellschaft lifted its stake in Zscaler by 30.3% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock worth $1,515,000 after purchasing an additional 1,952 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Zscaler by 1,786.5% during the third quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock worth $2,728,000 after purchasing an additional 14,274 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Stock Performance

Shares of ZS opened at $202.16 on Friday. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $217.84. The company has a market capitalization of $31.02 billion, a price-to-earnings ratio of -808.64 and a beta of 0.89. The firm has a 50-day simple moving average of $196.01 and a 200-day simple moving average of $191.57.

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

Insider Activity at Zscaler

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the transaction, the chief financial officer now directly owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the firm’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 transaction of $573,516.16. Following the transaction, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. This trade represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,248 shares of company stock worth $2,052,879 over the last 90 days. Company insiders own 18.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ZS shares. BTIG Research upped their price objective on Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Rosenblatt Securities raised Zscaler from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $190.00 to $235.00 in a research report on Thursday. UBS Group upped their price objective on Zscaler from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. upped their price objective on Zscaler from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, KeyCorp upped their price objective on Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $232.84.

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.