abrdn plc Acquires 525 Shares of Zscaler, Inc. (NASDAQ:ZS)

Posted by Defense World Staff on May 25th, 2023

abrdn plc increased its position in Zscaler, Inc. (NASDAQ:ZS – Get Rating) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,808 shares of the company’s stock after purchasing an additional 525 shares during the period. abrdn plc’s holdings in Zscaler were worth $986,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Qsemble Capital Management LP purchased a new position in Zscaler during the 4th quarter valued at about $257,000. LA Financiere DE L Echiquier boosted its position in shares of Zscaler by 15.1% during the 4th quarter. LA Financiere DE L Echiquier now owns 226,800 shares of the company’s stock valued at $25,379,000 after acquiring an additional 29,748 shares during the last quarter. Pinebridge Investments L.P. boosted its position in shares of Zscaler by 16.6% during the 4th quarter. Pinebridge Investments L.P. now owns 24,972 shares of the company’s stock valued at $2,794,000 after acquiring an additional 3,551 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Zscaler by 17.7% during the 4th quarter. First Trust Advisors LP now owns 1,777,929 shares of the company’s stock valued at $198,947,000 after acquiring an additional 267,441 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Zscaler by 2.8% during the 4th quarter. Victory Capital Management Inc. now owns 84,873 shares of the company’s stock valued at $10,483,000 after acquiring an additional 2,284 shares during the last quarter. 45.33% of the stock is currently owned by institutional investors.

Zscaler Stock Performance

ZS stock opened at $126.53 on Thursday. The stock’s 50 day moving average price is $107.30 and its 200 day moving average price is $117.61. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 2.16. Zscaler, Inc. has a 1 year low of $84.93 and a 1 year high of $194.21.

Zscaler (NASDAQ:ZS – Get Rating) last issued its quarterly earnings results on Thursday, March 2nd. The company reported ($0.35) earnings per share for the quarter, beating 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 return on equity of 50.58% and a negative net margin of 24.08%. As a group, research analysts forecast that Zscaler, Inc. will post -1.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ZS has been the subject of a number of recent analyst reports. Rosenblatt Securities assumed coverage on Zscaler in a report on Monday, May 1st. They set a “buy” rating and a $135.00 price objective for the company. KGI Securities downgraded Zscaler from an “outperform” rating to a “neutral” rating in a research note on Wednesday, March 8th. Cantor Fitzgerald lowered their target price on Zscaler from $160.00 to $140.00 in a research note on Friday, March 3rd. Wedbush lowered their target price on Zscaler from $180.00 to $150.00 in a research note on Friday, March 3rd. Finally, 888 restated a “maintains” rating on shares of Zscaler in a research note on Tuesday, May 9th. Fourteen research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $167.68.

Insider Buying and Selling at Zscaler

In other news, insider Robert Schlossman sold 3,645 shares of the company’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 directly owns 132,553 shares in the company, valued at approximately $14,155,334.87. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Robert Schlossman sold 3,645 shares of the company’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 directly owns 132,553 shares in the company, valued at approximately $14,155,334.87. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jagtar Singh Chaudhry sold 900 shares of the company’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $106.79, for a total value of $96,111.00. Following the sale, the chief executive officer now owns 322,649 shares of the company’s stock, valued at $34,455,686.71. The disclosure for this sale can be found here. In the last three months, insiders sold 16,412 shares of company stock worth $1,752,637. Insiders own 19.80% of the company’s stock.

Zscaler Company Profile

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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.