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

Westpac Banking Corp grew its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 919.0% in the 3rd quarter, Holdings Channel reports. The firm owned 9,986 shares of the company’s stock after acquiring an additional 9,006 shares during the quarter. Westpac Banking Corp’s holdings in Zscaler were worth $2,992,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Bessemer Group Inc. grew its stake in Zscaler by 3.2% during the 3rd quarter. Bessemer Group Inc. now owns 1,021 shares of the company’s stock worth $306,000 after buying an additional 32 shares during the last quarter. Cox Capital Mgt LLC lifted its stake in Zscaler by 0.6% in the third quarter. Cox Capital Mgt LLC now owns 5,576 shares of the company’s stock valued at $1,671,000 after buying an additional 33 shares during the last quarter. Brookstone Capital Management boosted its holdings in shares of Zscaler by 3.7% during the third 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. boosted its holdings in shares of Zscaler by 0.7% during the third 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 during the period. Finally, 180 Wealth Advisors LLC increased its holdings in shares of Zscaler by 0.5% in the 3rd quarter. 180 Wealth Advisors LLC now owns 7,897 shares of the company’s stock worth $2,366,000 after acquiring an additional 36 shares during the period. Institutional investors own 46.45% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating on shares of Zscaler in a research note on Wednesday, November 26th. Needham & Company LLC reduced their price objective on Zscaler from $350.00 to $310.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. TD Cowen lowered their target price on Zscaler from $330.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday. Wedbush boosted their price target on Zscaler from $330.00 to $350.00 and gave the stock an “outperform” rating in a research report on Monday, November 10th. Finally, Stifel Nicolaus lowered their price target on Zscaler from $330.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, thirty-four have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $293.84.

Insider Transactions at Zscaler

In related news, CFO Kevin Rubin sold 3,303 shares of Zscaler stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $230.82, for a total value of $762,398.46. Following the transaction, the chief financial officer owned 48,161 shares of the company’s stock, valued at approximately $11,116,522.02. This trade represents a 6.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Adam Geller sold 2,060 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $230.82, for a total transaction of $475,489.20. Following the completion of the transaction, the insider owned 52,148 shares of the company’s stock, valued at approximately $12,036,801.36. The trade was a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 19,350 shares of company stock valued at $4,471,509 in the last 90 days. 17.20% of the stock is owned by corporate insiders.

Zscaler Price Performance

Shares of Zscaler stock opened at $155.70 on Thursday. Zscaler, Inc. has a 52 week low of $141.56 and a 52 week high of $336.99. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.86. The stock has a market cap of $24.83 billion, a PE ratio of -598.82, a price-to-earnings-growth ratio of 304.47 and a beta of 1.02. The company’s 50-day moving average price is $201.91 and its two-hundred day moving average price is $256.68.

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