Rockland Trust Co. Takes Position in Zscaler, Inc. (NASDAQ:ZS)

Rockland Trust Co. bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,125 shares of the company’s stock, valued at approximately $203,000.

Several other hedge funds have also recently bought and sold shares of ZS. Tlwm lifted its holdings in shares of Zscaler by 4.7% in the fourth quarter. Tlwm now owns 4,579 shares of the company’s stock valued at $826,000 after purchasing an additional 206 shares in the last quarter. Pallas Capital Advisors LLC lifted its stake in Zscaler by 95.4% in the 4th quarter. Pallas Capital Advisors LLC now owns 4,491 shares of the company’s stock valued at $810,000 after acquiring an additional 2,193 shares in the last quarter. Salem Investment Counselors Inc. grew its stake in shares of Zscaler by 1.9% during the 4th quarter. Salem Investment Counselors Inc. now owns 10,043 shares of the company’s stock worth $1,812,000 after acquiring an additional 188 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Zscaler by 1.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,666 shares of the company’s stock valued at $1,994,000 after purchasing an additional 151 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in shares of Zscaler in the fourth quarter worth $565,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ZS has been the subject of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $240.00 target price on shares of Zscaler in a research report on Friday, January 10th. BMO Capital Markets raised their price target on Zscaler from $197.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. KeyCorp upped their price objective on Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Guggenheim reissued a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. Finally, Citigroup upped their price target on shares of Zscaler from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Eleven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and an average price target of $224.84.

Zscaler Trading Up 2.9 %

Shares of ZS opened at $189.99 on Thursday. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $259.61. The firm’s 50 day moving average is $196.85 and its 200-day moving average is $188.19. The stock has a market capitalization of $29.15 billion, a PE ratio of -759.96 and a beta of 0.87.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.14. The firm 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 quarterly revenue was up 26.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.18) EPS. Equities research analysts predict that Zscaler, Inc. will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the transaction, the chief financial officer now directly owns 220,635 shares in the company, valued at $44,197,603.20. The trade was a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the sale, the chief executive officer now directly owns 358,569 shares in the company, valued at approximately $71,828,542.08. This represents a 0.79 % 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 over the last quarter. 18.10% of the stock is owned by company 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.