Fisher Asset Management LLC Makes New $1.41 Million Investment in Zscaler, Inc. (NASDAQ:ZS)

Posted by Defense World Staff on Apr 29th, 2023

Fisher Asset Management LLC bought a new position in Zscaler, Inc. (NASDAQ:ZS – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,613 shares of the company’s stock, valued at approximately $1,411,000.

Other large investors have also recently bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in shares of Zscaler during the first quarter valued at approximately $168,365,000. Marshall Wace LLP raised its holdings in shares of Zscaler by 1,278.9% during the third quarter. Marshall Wace LLP now owns 453,939 shares of the company’s stock valued at $74,616,000 after buying an additional 421,019 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Zscaler by 55,282.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 281,895 shares of the company’s stock valued at $31,544,000 after buying an additional 281,386 shares during the last quarter. Artisan Partners Limited Partnership raised its holdings in shares of Zscaler by 17.0% during the third quarter. Artisan Partners Limited Partnership now owns 1,865,180 shares of the company’s stock valued at $306,580,000 after buying an additional 271,360 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Zscaler by 238.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 253,595 shares of the company’s stock valued at $41,683,000 after buying an additional 178,585 shares during the last quarter. Institutional investors own 45.33% of the company’s stock.

Zscaler Stock Down 3.6 %

ZS stock opened at $90.10 on Friday. The company has a debt-to-equity ratio of 2.16, a current ratio of 2.01 and a quick ratio of 2.01. Zscaler, Inc. has a 12 month low of $87.78 and a 12 month high of $217.40. The firm has a 50 day moving average of $111.37 and a two-hundred day moving average of $122.27.

Zscaler (NASDAQ:ZS – Get Rating) last posted its earnings results on Thursday, March 2nd. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.08. The company had revenue of $387.60 million during the quarter, compared to the consensus estimate of $363.80 million. Zscaler had a negative net margin of 24.08% and a negative return on equity of 50.58%. On average, sell-side analysts predict that Zscaler, Inc. will post -1.21 earnings per share for the current year.

Insiders Place Their Bets

In other Zscaler news, CFO Remo Canessa sold 6,229 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $106.79, for a total value of $665,194.91. Following the completion of the sale, the chief financial officer now directly owns 295,863 shares of the company’s stock, valued at $31,595,209.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Remo Canessa sold 6,229 shares of the business’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $106.79, for a total value of $665,194.91. Following the completion of the sale, the chief financial officer now directly owns 295,863 shares in the company, valued at $31,595,209.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Schlossman sold 3,645 shares of the business’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $106.79, for a total transaction of $389,249.55. Following the completion of the sale, the insider now owns 132,553 shares of the company’s stock, valued at $14,155,334.87. The disclosure for this sale can be found here. Insiders sold 16,412 shares of company stock valued at $1,752,637 over the last ninety days. Corporate insiders own 19.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ZS. Wedbush cut their price target on Zscaler from $180.00 to $150.00 in a report on Friday, March 3rd. Truist Financial lowered their price objective on shares of Zscaler from $250.00 to $153.00 in a research note on Monday, January 9th. Credit Suisse Group lowered their price objective on shares of Zscaler from $275.00 to $165.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 15th. Capital One Financial started coverage on shares of Zscaler in a research note on Friday, March 17th. They set an “equal weight” rating and a $125.00 price objective on the stock. Finally, Mizuho lowered their price objective on shares of Zscaler from $160.00 to $150.00 in a research note on Friday, March 3rd. Fourteen 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 company. Based on data from MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and an average target price of $170.14.

About Zscaler

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Zscaler, Inc engages in the provision of a cloud-based internet security platform. It offers Zero Trust Exchange, Zscaler Client Connector, Zscaler Internet Access, Zscaler Private Access, Zscaler B2B, Zscaler Cloud Protection, and Zscaler Digital Experience. The company was founded by Jagtar Singh Chaudhry and K.