Private Advisor Group LLC acquired a new stake in Zscaler Inc (NASDAQ:ZS) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 16,672 shares of the company’s stock, valued at approximately $1,183,000.
Other large investors have also recently made changes to their positions in the company. FTB Advisors Inc. purchased a new stake in shares of Zscaler during the 1st quarter valued at $26,000. Nisa Investment Advisors LLC purchased a new position in Zscaler during the 1st quarter valued at about $28,000. Acadian Asset Management LLC raised its holdings in Zscaler by 561.3% in the fourth quarter. Acadian Asset Management LLC now owns 1,230 shares of the company’s stock worth $48,000 after buying an additional 1,044 shares during the last quarter. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Zscaler in the fourth quarter worth approximately $51,000. Finally, Bank of Montreal Can grew its stake in shares of Zscaler by 2,242.7% in the fourth quarter. Bank of Montreal Can now owns 2,249 shares of the company’s stock worth $88,000 after acquiring an additional 2,153 shares during the period. 34.36% of the stock is currently owned by institutional investors and hedge funds.
ZS has been the topic of a number of recent research reports. Morgan Stanley set a $43.00 price target on shares of Zscaler and gave the company a “sell” rating in a research note on Friday, March 1st. Zacks Investment Research raised shares of Zscaler from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research report on Saturday, June 8th. Barclays increased their price objective on shares of Zscaler from $42.00 to $55.00 and gave the company an “equal weight” rating in a research report on Friday, March 1st. Piper Jaffray Companies raised their price objective on shares of Zscaler from $65.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Finally, Robert W. Baird reissued a “buy” rating and issued a $65.00 price target on shares of Zscaler in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $72.00.
NASDAQ:ZS opened at $79.72 on Friday. The firm has a market cap of $9.70 billion, a price-to-earnings ratio of -257.16 and a beta of 1.19. Zscaler Inc has a 52-week low of $30.72 and a 52-week high of $80.38.
Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Thursday, May 30th. The company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). Zscaler had a negative net margin of 11.12% and a negative return on equity of 10.95%. The company had revenue of $79.10 million during the quarter, compared to the consensus estimate of $74.92 million. During the same quarter in the previous year, the business earned ($0.02) EPS. Zscaler’s revenue was up 60.8% on a year-over-year basis. Equities analysts expect that Zscaler Inc will post -0.17 earnings per share for the current year.
In other news, CFO Remo Canessa sold 110,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $78.19, for a total transaction of $8,600,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Amit Sinha sold 97,339 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $79.89, for a total transaction of $7,776,412.71. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 437,910 shares of company stock worth $32,350,110. Insiders own 27.40% of the company’s stock.
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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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