Wellington Management Group LLP Boosts Stock Position in Zscaler, Inc. $ZS

Wellington Management Group LLP lifted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 23.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,103,212 shares of the company’s stock after buying an additional 209,711 shares during the period. Wellington Management Group LLP owned about 0.68% of Zscaler worth $155,718,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Binnacle Investments Inc purchased a new stake in Zscaler in the third quarter worth approximately $25,000. AlphaCentric Advisors LLC bought a new stake in shares of Zscaler in the 4th quarter worth approximately $29,000. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Zscaler in the 4th quarter worth approximately $30,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Zscaler in the 4th quarter valued at $32,000. Finally, Strive Financial Group LLC bought a new position in shares of Zscaler during the 4th quarter valued at $39,000. Institutional investors own 46.45% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Kevin Rubin sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $124.22, for a total transaction of $372,660.00. Following the completion of the transaction, the chief financial officer owned 41,901 shares in the company, valued at $5,204,942.22. This represents a 6.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Adam Geller sold 2,817 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $122.60, for a total value of $345,364.20. Following the completion of the sale, the insider directly owned 42,314 shares of the company’s stock, valued at $5,187,696.40. The trade was a 6.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,772 shares of company stock valued at $2,139,799 over the last three months. 17.20% of the stock is currently owned by corporate insiders.

Zscaler Stock Up 2.3%

Shares of NASDAQ:ZS opened at $188.38 on Tuesday. The stock’s 50-day moving average is $157.48 and its 200 day moving average is $150.33. The company has a market cap of $30.46 billion, a PE ratio of -392.45, a P/E/G ratio of 108.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.86. Zscaler, Inc. has a 1 year low of $114.63 and a 1 year high of $336.99.

Analyst Ratings Changes

ZS has been the subject of several recent research reports. Piper Sandler lowered their price target on shares of Zscaler from $185.00 to $160.00 and set a “neutral” rating for the company in a research note on Wednesday, May 27th. Weiss Ratings upgraded Zscaler from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered their target price on Zscaler from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. The Goldman Sachs Group restated a “neutral” rating and set a $179.00 price target on shares of Zscaler in a research report on Wednesday, May 27th. Finally, KeyCorp lifted their price target on Zscaler from $185.00 to $210.00 and gave the stock an “overweight” rating in a research note on Friday, August 21st. Thirty-four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $216.18.

About Zscaler

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.