Del Sette Capital Management LLC Purchases New Stake in Zscaler, Inc. (NASDAQ:ZS)

Del Sette Capital Management LLC acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,602 shares of the company’s stock, valued at approximately $1,463,000. Zscaler accounts for 1.3% of Del Sette Capital Management LLC’s investment portfolio, making the stock its 18th biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BluePath Capital Management LLC bought a new position in shares of Zscaler during the third quarter worth approximately $32,000. Parkside Financial Bank & Trust increased its position in Zscaler by 582.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 157 shares of the company’s stock worth $35,000 after buying an additional 134 shares during the period. GAMMA Investing LLC bought a new position in Zscaler during the 4th quarter worth $37,000. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Zscaler by 109.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 209 shares of the company’s stock worth $46,000 after buying an additional 109 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its position in shares of Zscaler by 41.1% in the fourth quarter. Lindbrook Capital LLC now owns 237 shares of the company’s stock valued at $53,000 after acquiring an additional 69 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Syam Nair sold 2,893 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $558,782.95. Following the transaction, the insider now owns 137,294 shares of the company’s stock, valued at approximately $26,518,336.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Zscaler news, CFO Remo Canessa sold 7,707 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $1,488,607.05. Following the sale, the chief financial officer now owns 255,943 shares of the company’s stock, valued at approximately $49,435,390.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Syam Nair sold 2,893 shares of Zscaler stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $558,782.95. Following the completion of the transaction, the insider now owns 137,294 shares of the company’s stock, valued at $26,518,336.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,715 shares of company stock valued at $5,865,882. 19.20% of the stock is owned by company insiders.

Zscaler Stock Up 1.3 %

NASDAQ:ZS traded up $2.24 during trading hours on Friday, hitting $177.05. 1,341,755 shares of the company traded hands, compared to its average volume of 1,530,924. The firm’s 50-day simple moving average is $198.51 and its 200-day simple moving average is $203.68. The company has a market cap of $26.54 billion, a PE ratio of -186.37 and a beta of 0.80. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19. Zscaler, Inc. has a one year low of $84.93 and a one year high of $259.61.

Zscaler (NASDAQ:ZS) last announced its earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.08. The firm had revenue of $525.00 million for the quarter, compared to the consensus estimate of $507.56 million. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. Equities analysts predict that Zscaler, Inc. will post -0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

ZS has been the subject of several recent research reports. Rosenblatt Securities boosted their price target on Zscaler from $285.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, March 1st. KeyCorp raised shares of Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 target price on the stock in a research note on Thursday, April 18th. Macquarie reiterated an “outperform” rating and issued a $245.00 price target on shares of Zscaler in a research note on Tuesday, March 19th. Robert W. Baird raised their price objective on Zscaler from $255.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Finally, The Goldman Sachs Group upped their target price on Zscaler from $189.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Five research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Zscaler has a consensus rating of “Moderate Buy” and a consensus price target of $230.24.

About Zscaler

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.