Paloma Partners Management Co Acquires New Stake in Zscaler, Inc. (NASDAQ:ZS)

Paloma Partners Management Co acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,550 shares of the company’s stock, valued at approximately $1,291,000.

Several other large investors also recently added to or reduced their stakes in the company. Quest Partners LLC bought a new position in Zscaler in the 2nd quarter worth $28,000. True Wealth Design LLC lifted its stake in shares of Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after acquiring an additional 185 shares during the last quarter. Asset Dedication LLC raised its stake in shares of Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after acquiring an additional 166 shares in the last quarter. American Capital Advisory LLC purchased a new position in shares of Zscaler in the 2nd quarter worth approximately $50,000. Finally, GAMMA Investing LLC grew its holdings in shares of Zscaler by 21.3% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after buying an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. JMP Securities reissued a “market outperform” rating and set a $270.00 target price on shares of Zscaler in a research note on Monday, November 4th. 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. BNP Paribas started coverage on Zscaler in a research report on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 target price for the company. Wells Fargo & Company decreased their target price on Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $190.00 price objective on shares of Zscaler in a research report on Wednesday, September 4th. Ten investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Zscaler has a consensus rating of “Moderate Buy” and a consensus price target of $221.13.

Insider Activity

In other Zscaler news, CFO Remo Canessa sold 8,455 shares of Zscaler stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the completion of the sale, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. The trade was a 3.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Schlossman sold 4,947 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the sale, the insider now directly owns 107,241 shares of the company’s stock, valued at approximately $18,254,563.02. This trade represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $5,256,651 over the last ninety days. Corporate insiders own 18.10% of the company’s stock.

Zscaler Price Performance

Zscaler stock opened at $208.51 on Tuesday. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $259.61. The firm has a 50-day moving average of $190.12 and a two-hundred day moving average of $184.80.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. During the same period last year, the business posted ($0.18) earnings per share. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. Equities analysts forecast that Zscaler, Inc. will post -0.95 EPS 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.