Malaga Cove Capital LLC Increases Stake in Zscaler, Inc. (NASDAQ:ZS)

Malaga Cove Capital LLC grew its stake in Zscaler, Inc. (NASDAQ:ZS) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,007 shares of the company’s stock after purchasing an additional 321 shares during the period. Malaga Cove Capital LLC’s holdings in Zscaler were worth $1,198,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC purchased a new stake in Zscaler during the second quarter worth $28,000. Asset Dedication LLC boosted its stake in shares of Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after acquiring an additional 166 shares in the last quarter. American Capital Advisory LLC acquired a new stake in shares of Zscaler during the 2nd quarter valued at about $50,000. GAMMA Investing LLC raised its holdings in Zscaler by 21.3% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after purchasing an additional 67 shares during the period. Finally, Quarry LP boosted its position in Zscaler by 613.0% during the second quarter. Quarry LP now owns 385 shares of the company’s stock worth $74,000 after purchasing an additional 331 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ZS. BTIG Research cut their price objective on Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Piper Sandler reduced their price objective on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Cantor Fitzgerald dropped their target price on shares of Zscaler from $200.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. JPMorgan Chase & Co. reduced their price target on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Finally, Bank of America cut Zscaler from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $265.00 to $195.00 in a report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and an average price target of $216.73.

Zscaler Trading Up 3.3 %

Shares of NASDAQ ZS opened at $193.03 on Thursday. The stock has a market capitalization of $29.44 billion, a PE ratio of -482.56 and a beta of 0.82. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $259.61. The stock has a fifty day simple moving average of $179.15 and a 200-day simple moving average of $181.24.

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

Insiders Place Their Bets

In other news, insider Robert Schlossman sold 1,435 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the sale, the insider now directly owns 105,806 shares in the company, valued at approximately $19,224,950.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Robert Schlossman sold 1,435 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the sale, the insider now directly owns 105,806 shares in the company, valued at approximately $19,224,950.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction that occurred on Monday, September 23rd. The stock was 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 owns 25,907 shares of the company’s stock, valued at $4,510,408.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock worth $5,256,651 in the last ninety days. 19.20% of the stock is owned by corporate 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.