Forum Financial Management LP Invests $210,000 in Zscaler, Inc. (NASDAQ:ZS)

Forum Financial Management LP bought a new stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,056 shares of the company's stock, valued at approximately $210,000.

Several other large investors have also made changes to their positions in ZS. ORG Partners LLC lifted its holdings in shares of Zscaler by 284.8% during the 1st quarter. ORG Partners LLC now owns 127 shares of the company's stock valued at $26,000 after purchasing an additional 94 shares during the last quarter. Goodman Advisory Group LLC purchased a new stake in shares of Zscaler during the 1st quarter valued at approximately $29,000. Summit Securities Group LLC acquired a new position in Zscaler during the fourth quarter worth $27,000. CVA Family Office LLC lifted its stake in Zscaler by 120.3% during the first quarter. CVA Family Office LLC now owns 152 shares of the company's stock worth $30,000 after purchasing an additional 83 shares in the last quarter. Finally, Colonial Trust Co SC acquired a new stake in shares of Zscaler in the fourth quarter valued at $28,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on ZS. BTIG Research restated a "buy" rating on shares of Zscaler in a research report on Thursday, July 10th. Jefferies Financial Group cut their price objective on shares of Zscaler from $245.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Wells Fargo & Company upgraded Zscaler from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $260.00 to $385.00 in a research note on Friday, June 13th. Roth Capital restated a "neutral" rating on shares of Zscaler in a research report on Wednesday, May 28th. Finally, Piper Sandler reiterated a "neutral" rating and issued a $260.00 price objective (up from $235.00) on shares of Zscaler in a report on Friday, May 30th. Seven investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $296.82.

Insider Buying and Selling at Zscaler

In other Zscaler news, insider Robert Schlossman sold 3,174 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $305.07, for a total transaction of $968,292.18. Following the completion of the transaction, the insider owned 88,970 shares of the company's stock, valued at $27,142,077.90. This trade represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Adam Geller sold 3,662 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $306.72, for a total transaction of $1,123,208.64. Following the sale, the insider directly owned 46,813 shares in the company, valued at $14,358,483.36. This represents a 7.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 200,793 shares of company stock worth $58,752,794. Corporate insiders own 18.10% of the company's stock.

Zscaler Stock Down 0.5%

Shares of NASDAQ ZS traded down $1.32 during midday trading on Thursday, hitting $282.05. The stock had a trading volume of 258,704 shares, compared to its average volume of 2,251,984. The business's 50 day moving average is $289.52 and its 200-day moving average is $233.09. The company has a market cap of $43.91 billion, a P/E ratio of -1,082.23 and a beta of 1.11. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $318.46.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. The company had revenue of $678.03 million during the quarter, compared to analysts' expectations of $667.13 million. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. Zscaler's quarterly revenue was up 22.6% on a year-over-year basis. During the same period last year, the company posted $0.88 earnings per share. As a group, analysts expect that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Zscaler Company Profile

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.