Parcion Private Wealth LLC Buys New Position in Zscaler, Inc. (NASDAQ:ZS)

Parcion Private Wealth LLC bought a new stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,162 shares of the company's stock, valued at approximately $231,000.

A number of other institutional investors have also recently modified their holdings of the stock. Victory Capital Management Inc. lifted its position in shares of Zscaler by 4.4% during the 1st quarter. Victory Capital Management Inc. now owns 115,177 shares of the company's stock worth $22,853,000 after buying an additional 4,888 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Zscaler by 73.4% during the 1st quarter. Larson Financial Group LLC now owns 1,699 shares of the company's stock worth $337,000 after buying an additional 719 shares during the last quarter. Wealthfront Advisers LLC lifted its position in shares of Zscaler by 15.4% during the 1st quarter. Wealthfront Advisers LLC now owns 6,670 shares of the company's stock worth $1,323,000 after buying an additional 890 shares during the last quarter. Whittier Trust Co. bought a new stake in shares of Zscaler during the 1st quarter worth $33,000. Finally, Dakota Wealth Management bought a new stake in shares of Zscaler during the 1st quarter worth $1,245,000. 46.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays upped their price objective on Zscaler from $275.00 to $290.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Oppenheimer upped their price objective on Zscaler from $290.00 to $345.00 and gave the stock an "outperform" rating in a research report on Friday, June 6th. Stifel Nicolaus upped their price objective on Zscaler from $270.00 to $295.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Bank of America upped their price objective on Zscaler from $285.00 to $340.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Finally, Susquehanna upped their price objective on Zscaler from $245.00 to $320.00 and gave the stock a "positive" rating in a research report on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $296.82.

Zscaler Trading Up 0.8%

ZS stock traded up $2.43 during midday trading on Friday, hitting $288.72. The stock had a trading volume of 1,819,101 shares, compared to its average volume of 2,068,009. The firm has a market cap of $44.95 billion, a P/E ratio of -1,110.46 and a beta of 1.11. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $318.46. The business has a fifty day moving average price of $286.65 and a two-hundred day moving average price of $230.55.

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

Insider Transactions at Zscaler

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

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.