Capital Advisory Group Advisory Services LLC Takes $213,000 Position in Zscaler, Inc. (NASDAQ:ZS)

Capital Advisory Group Advisory Services LLC purchased a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,073 shares of the company's stock, valued at approximately $213,000.

Several other hedge funds also recently modified their holdings of ZS. LaFleur & Godfrey LLC grew its position in shares of Zscaler by 0.6% in the fourth quarter. LaFleur & Godfrey LLC now owns 61,985 shares of the company's stock valued at $11,183,000 after purchasing an additional 399 shares during the period. Yousif Capital Management LLC acquired a new stake in Zscaler in the 4th quarter worth about $214,000. Choreo LLC boosted its stake in Zscaler by 2.6% in the 4th quarter. Choreo LLC now owns 2,833 shares of the company's stock worth $517,000 after buying an additional 73 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Zscaler by 3.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 224,648 shares of the company's stock valued at $40,529,000 after buying an additional 6,532 shares during the period. Finally, Savant Capital LLC acquired a new position in shares of Zscaler during the 4th quarter valued at about $2,742,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ZS shares. Wall Street Zen upgraded Zscaler from a "hold" rating to a "buy" rating in a report on Sunday. Needham & Company LLC upped their price target on Zscaler from $240.00 to $310.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Rosenblatt Securities raised their price objective on Zscaler from $235.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Barclays boosted their target price on Zscaler from $275.00 to $290.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Finally, Susquehanna raised their price target on shares of Zscaler from $245.00 to $320.00 and gave the company a "positive" rating in a report on Friday, May 30th. Nine equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $288.71.

Zscaler Stock Performance

Shares of Zscaler stock traded up $3.47 during trading on Thursday, reaching $303.33. The company had a trading volume of 884,385 shares, compared to its average volume of 2,055,230. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $306.78. The firm's fifty day moving average is $236.33 and its 200-day moving average is $211.46. The company has a market cap of $47.23 billion, a price-to-earnings ratio of -1,213.32 and a beta of 1.09.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $678.03 million for the quarter, compared to analysts' expectations of $667.13 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. Zscaler's revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 earnings per share. On average, research analysts anticipate that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Robert Schlossman sold 4,618 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $300.00, for a total transaction of $1,385,400.00. Following the completion of the transaction, the insider now owns 95,612 shares in the company, valued at approximately $28,683,600. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the sale, the insider now owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This represents a 6.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 386,722 shares of company stock valued at $93,690,448 over the last 90 days. 18.10% of the stock is owned by company insiders.

Zscaler 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.