Red Spruce Capital LLC Has $2.89 Million Holdings in Zscaler, Inc. (NASDAQ:ZS)

Red Spruce Capital LLC lifted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,015 shares of the company’s stock after acquiring an additional 221 shares during the quarter. Zscaler makes up approximately 1.3% of Red Spruce Capital LLC’s portfolio, making the stock its 28th biggest position. Red Spruce Capital LLC’s holdings in Zscaler were worth $2,889,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Champlain Investment Partners LLC raised its position in Zscaler by 28.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after purchasing an additional 283,540 shares during the last quarter. International Assets Investment Management LLC raised 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 worth $48,769,000 after acquiring an additional 283,201 shares during the last quarter. GuoLine Advisory Pte Ltd acquired a new position in shares of Zscaler in the third quarter worth approximately $32,660,000. Westfield Capital Management Co. LP boosted its holdings in Zscaler by 33.8% in the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after acquiring an additional 100,814 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Zscaler by 59.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 190,794 shares of the company’s stock valued at $34,421,000 after purchasing an additional 71,297 shares during the period. 46.45% of the stock is currently owned by institutional investors.

Insider Activity at Zscaler

In other news, insider Syam Nair sold 3,682 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 value of $737,578.24. Following the completion of the sale, the insider now directly owns 142,866 shares in the company, valued at approximately $28,618,917.12. The trade was a 2.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Remo Canessa sold 3,703 shares of Zscaler stock in a transaction on Tuesday, December 17th. The stock was 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 owns 220,635 shares in the company, valued at approximately $44,197,603.20. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,248 shares of company stock valued at $2,052,879 over the last 90 days. 18.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ZS has been the topic of several research analyst reports. Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a research report on Monday, November 18th. Citigroup increased their price target on Zscaler from $230.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price objective on shares of Zscaler in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their target price on shares of Zscaler from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.47.

Zscaler Trading Up 2.3 %

NASDAQ ZS opened at $191.81 on Wednesday. The company’s 50 day simple moving average is $195.86 and its two-hundred day simple moving average is $187.84. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $259.61.

Zscaler (NASDAQ:ZS) last announced its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The business had revenue of $628.00 million for the quarter, compared to analyst estimates 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 prior year, the company earned ($0.18) EPS. As a group, research analysts predict that Zscaler, Inc. will post -0.16 EPS for the current year.

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.