Wellington Management Group LLP Purchases 209,711 Shares of Zscaler, Inc. $ZS

Wellington Management Group LLP increased its position in Zscaler, Inc. (NASDAQ:ZS) by 23.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,103,212 shares of the company’s stock after purchasing an additional 209,711 shares during the quarter. Wellington Management Group LLP’s holdings in Zscaler were worth $155,718,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Kingsview Wealth Management LLC bought a new position in Zscaler in the second quarter worth $301,000. Beacon Pointe Advisors LLC bought a new stake in Zscaler during the second quarter worth about $5,922,000. North Star Asset Management Inc. purchased a new stake in Zscaler in the second quarter worth about $5,407,000. Empowered Funds LLC bought a new position in shares of Zscaler during the second quarter valued at approximately $383,000. Finally, United Capital Financial Advisors LLC purchased a new position in shares of Zscaler during the second quarter valued at approximately $337,000. 46.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ZS has been the topic of several recent research reports. Evercore set a $155.00 price target on Zscaler and gave the stock an “in-line” rating in a research note on Wednesday, May 27th. The Goldman Sachs Group reissued a “neutral” rating and issued a $179.00 target price on shares of Zscaler in a report on Wednesday, May 27th. Mizuho increased their target price on Zscaler from $185.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 19th. JPMorgan Chase & Co. raised their price target on Zscaler from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, August 26th. Finally, Stephens reiterated an “overweight” rating and issued a $200.00 price target on shares of Zscaler in a research note on Friday, June 12th. Thirty-four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $216.18.

Zscaler Stock Performance

ZS stock opened at $188.38 on Tuesday. The stock’s 50 day simple moving average is $157.48 and its 200 day simple moving average is $150.33. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.72. Zscaler, Inc. has a 12-month low of $114.63 and a 12-month high of $336.99. The stock has a market capitalization of $30.46 billion, a PE ratio of -392.45, a price-to-earnings-growth ratio of 108.43 and a beta of 0.94.

Insiders Place Their Bets

In related news, insider Adam Geller sold 2,817 shares of Zscaler stock in a transaction dated 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 in the company, valued at approximately $5,187,696.40. This trade represents a 6.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jagtar Singh Chaudhry sold 2,878 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $126.43, for a total transaction of $363,865.54. Following the transaction, the chief executive officer owned 343,038 shares in the company, valued at $43,370,294.34. This represents a 0.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 16,772 shares of company stock valued at $2,139,799. 17.20% of the stock is currently owned by corporate insiders.

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.