Zscaler, Inc. $ZS Shares Bought by Westpac Banking Corp

Westpac Banking Corp raised its position in Zscaler, Inc. (NASDAQ:ZS) by 919.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,986 shares of the company’s stock after purchasing an additional 9,006 shares during the quarter. Westpac Banking Corp’s holdings in Zscaler were worth $2,992,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ZS. Bessemer Group Inc. raised its holdings in Zscaler by 3.2% in the third quarter. Bessemer Group Inc. now owns 1,021 shares of the company’s stock valued at $306,000 after buying an additional 32 shares during the period. Cox Capital Mgt LLC increased its position in shares of Zscaler by 0.6% in the third quarter. Cox Capital Mgt LLC now owns 5,576 shares of the company’s stock worth $1,671,000 after acquiring an additional 33 shares in the last quarter. Brookstone Capital Management raised its stake in shares of Zscaler by 3.7% in the 3rd quarter. Brookstone Capital Management now owns 936 shares of the company’s stock valued at $280,000 after acquiring an additional 33 shares during the period. Wedbush Securities Inc. lifted its holdings in shares of Zscaler by 0.7% during the 3rd quarter. Wedbush Securities Inc. now owns 5,129 shares of the company’s stock valued at $1,537,000 after acquiring an additional 34 shares in the last quarter. Finally, 180 Wealth Advisors LLC boosted its position in Zscaler by 0.5% during the 3rd quarter. 180 Wealth Advisors LLC now owns 7,897 shares of the company’s stock worth $2,366,000 after purchasing an additional 36 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Analyst Upgrades and Downgrades

ZS has been the topic of several research reports. Scotiabank cut their price objective on Zscaler from $334.00 to $320.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, November 26th. Mizuho dropped their target price on Zscaler from $310.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. JPMorgan Chase & Co. reduced their price target on Zscaler from $354.00 to $267.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Bank of America lowered their price objective on shares of Zscaler from $355.00 to $335.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Finally, Stephens dropped their price objective on shares of Zscaler from $340.00 to $225.00 and set an “overweight” rating on the stock in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $293.84.

Insider Buying and Selling

In other Zscaler news, insider Adam Geller sold 2,060 shares of Zscaler stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $230.82, for a total value of $475,489.20. Following the completion of the transaction, the insider owned 52,148 shares of the company’s stock, valued at $12,036,801.36. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jagtar Singh Chaudhry sold 2,843 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $230.82, for a total transaction of $656,221.26. Following the sale, the chief executive officer owned 347,857 shares of the company’s stock, valued at approximately $80,292,352.74. The trade was a 0.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 19,350 shares of company stock worth $4,471,509. 17.20% of the stock is currently owned by insiders.

Zscaler Price Performance

Shares of ZS stock opened at $155.70 on Thursday. The firm has a fifty day moving average of $201.91 and a two-hundred day moving average of $256.68. The firm has a market cap of $24.83 billion, a P/E ratio of -598.82, a P/E/G ratio of 304.47 and a beta of 1.02. Zscaler, Inc. has a 1-year low of $141.56 and a 1-year high of $336.99. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.82 and a quick ratio of 1.82.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, November 25th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.11. Zscaler had a negative return on equity of 0.12% and a negative net margin of 1.45%.The business had revenue of $788.11 million during the quarter, compared to the consensus estimate of $773.86 million. During the same period last year, the firm earned $0.77 earnings per share. The company’s revenue for the quarter was up 25.5% compared to the same quarter last year. As a group, research analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Zscaler Company Profile

Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.

Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.