MetLife Investment Advisors LLC raised its position in Zscaler Inc (NASDAQ:ZS) by 190.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,496 shares of the company’s stock after purchasing an additional 17,389 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Zscaler were worth $1,039,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Mascoma Wealth Management LLC purchased a new position in Zscaler during the fourth quarter valued at approximately $39,000. Quantamental Technologies LLC purchased a new position in Zscaler during the fourth quarter valued at approximately $39,000. Acadian Asset Management LLC increased its holdings in Zscaler by 561.3% during the fourth quarter. Acadian Asset Management LLC now owns 1,230 shares of the company’s stock valued at $48,000 after buying an additional 1,044 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new position in Zscaler during the fourth quarter valued at approximately $51,000. Finally, Bank of Montreal Can increased its holdings in Zscaler by 2,242.7% during the fourth quarter. Bank of Montreal Can now owns 2,249 shares of the company’s stock valued at $88,000 after buying an additional 2,153 shares during the period. 29.86% of the stock is currently owned by institutional investors.
ZS has been the subject of several recent analyst reports. ValuEngine upgraded shares of Zscaler from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Robert W. Baird restated a “buy” rating and issued a $65.00 target price on shares of Zscaler in a research note on Tuesday, April 9th. Barclays raised their target price on shares of Zscaler from $42.00 to $55.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Bank of America set a $53.00 target price on shares of Zscaler and gave the company a “hold” rating in a research note on Friday, March 1st. Finally, Deutsche Bank raised their target price on shares of Zscaler from $44.00 to $57.00 and gave the company a “hold” rating in a research note on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $57.38.
Zscaler (NASDAQ:ZS) last issued its earnings results on Thursday, February 28th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.05. Zscaler had a negative net margin of 11.06% and a negative return on equity of 8.93%. The firm had revenue of $74.30 million during the quarter, compared to analysts’ expectations of $66.20 million. As a group, analysts forecast that Zscaler Inc will post -0.27 EPS for the current year.
In other Zscaler news, Director Andrew William Fraser Brown sold 2,000 shares of Zscaler stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $57.00, for a total value of $114,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Amit Sinha sold 4,807 shares of Zscaler stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $46.88, for a total transaction of $225,352.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 553,661 shares of company stock valued at $30,621,514. 27.40% of the stock is currently owned by corporate insiders.
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Zscaler Company Profile
Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.
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