Massachusetts Financial Services Co. MA Reduces Position in Zscaler, Inc. (NASDAQ:ZS)

Massachusetts Financial Services Co. MA lessened its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 3.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 126,564 shares of the company’s stock after selling 5,009 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Zscaler were worth $21,635,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ZS. International Assets Investment Management LLC boosted its position in shares of Zscaler by 13,498.6% during the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock valued at $48,769,000 after buying an additional 283,201 shares during the period. GuoLine Advisory Pte Ltd purchased a new stake in shares of Zscaler in the third quarter valued at approximately $32,660,000. Rokos Capital Management LLP purchased a new stake in shares of Zscaler in the first quarter valued at approximately $17,880,000. Caxton Associates LP boosted its holdings in shares of Zscaler by 467.9% in the second quarter. Caxton Associates LP now owns 79,500 shares of the company’s stock valued at $15,279,000 after purchasing an additional 65,500 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in shares of Zscaler by 18.3% in the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock valued at $75,857,000 after purchasing an additional 61,037 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

ZS has been the subject of a number of research reports. Stifel Nicolaus boosted their price target on Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, November 14th. BMO Capital Markets lowered their price target on Zscaler from $208.00 to $197.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Bank of America lowered Zscaler from a “buy” rating to a “neutral” rating and lowered their price target for the company from $265.00 to $195.00 in a report on Wednesday, September 4th. Oppenheimer reduced their price objective on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Finally, JMP Securities reissued a “market outperform” rating and issued a $270.00 price objective on shares of Zscaler in a research note on Monday, November 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Zscaler has an average rating of “Moderate Buy” and a consensus target price of $218.55.

Insider Transactions at Zscaler

In related news, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the transaction, the insider now directly owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This trade represents a 1.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrew William Fraser Brown sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the completion of the transaction, the director now directly owns 25,907 shares in the company, valued at $4,510,408.70. This represents a 23.59 % 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 ninety days. 19.20% of the stock is currently owned by corporate insiders.

Zscaler Stock Performance

NASDAQ:ZS opened at $210.42 on Tuesday. Zscaler, Inc. has a one year low of $153.45 and a one year high of $259.61. The firm has a market cap of $32.09 billion, a price-to-earnings ratio of -526.04 and a beta of 0.82. The firm’s fifty day moving average is $187.27 and its two-hundred day moving average is $183.96.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The company had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. During the same period in the prior year, the company earned ($0.17) earnings per share. The firm’s revenue was up 30.3% on a year-over-year basis. As a group, equities research analysts predict that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

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.