Black Swift Group LLC Invests $722,000 in Zscaler, Inc. (NASDAQ:ZS)

Black Swift Group LLC acquired a new position in Zscaler, Inc. (NASDAQ:ZS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,000 shares of the company’s stock, valued at approximately $722,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. KRS Capital Management LLC increased its holdings in Zscaler by 1.9% in the fourth quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock worth $588,000 after buying an additional 60 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Zscaler by 16.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock worth $88,000 after acquiring an additional 69 shares in the last quarter. GAMMA Investing LLC raised its stake in Zscaler by 18.5% during the fourth quarter. GAMMA Investing LLC now owns 448 shares of the company’s stock worth $81,000 after acquiring an additional 70 shares in the last quarter. Avior Wealth Management LLC increased its stake in shares of Zscaler by 50.7% in the fourth quarter. Avior Wealth Management LLC now owns 214 shares of the company’s stock valued at $39,000 after buying an additional 72 shares in the last quarter. Finally, Choreo LLC boosted its holdings in Zscaler by 2.6% in the fourth quarter. Choreo LLC now owns 2,833 shares of the company’s stock valued at $517,000 after acquiring an additional 73 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors.

Zscaler Price Performance

NASDAQ:ZS opened at $196.45 on Thursday. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $217.84. The firm has a 50 day simple moving average of $195.83 and a 200-day simple moving average of $191.54. The firm has a market cap of $30.14 billion, a PE ratio of -785.80 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last released 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. The company 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%. Zscaler’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.18) earnings per share. As a group, sell-side analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Susquehanna raised their target price on Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a report on Tuesday, December 3rd. Cantor Fitzgerald raised Zscaler to a “hold” rating in a research report on Monday, November 18th. JMP Securities restated a “market outperform” rating and issued a $240.00 price target (down from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Morgan Stanley lowered their target price on Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a report on Tuesday, December 3rd. Finally, Loop Capital cut their target price on Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a research report on Tuesday, December 3rd. Ten equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.94.

Insider Activity

In related news, CEO Jagtar Singh Chaudhry sold 2,863 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 $573,516.16. Following the completion of the transaction, the chief executive officer now owns 358,569 shares in the company, valued at $71,828,542.08. This represents a 0.79 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Syam Nair sold 3,682 shares of Zscaler 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 $737,578.24. Following the completion of the transaction, the insider now directly owns 142,866 shares in the company, valued at $28,618,917.12. This represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is currently 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.