1,489 Shares in Zscaler, Inc. (NASDAQ:ZS) Acquired by Meeder Advisory Services Inc.

Key Points

• Meeder Advisory Services Inc. acquired 1,489 shares of Zscaler, Inc., valued at approximately $295,000, in the first quarter.
• Zscaler reported $0.84 earnings per share for the quarter, exceeding analyst estimates, with revenue increasing by 22.6% year-over-year.
• The stock has been assigned an average rating of "Moderate Buy" by analysts, with a consensus price target of $296.82.

Meeder Advisory Services Inc. acquired a new position in Zscaler, Inc. (NASDAQ:ZS - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,489 shares of the company's stock, valued at approximately $295,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. SLT Holdings LLC boosted its stake in Zscaler by 5.8% during the 1st quarter. SLT Holdings LLC now owns 6,323 shares of the company's stock valued at $1,255,000 after purchasing an additional 345 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake in Zscaler by 5.0% during the 1st quarter. Foundations Investment Advisors LLC now owns 6,587 shares of the company's stock valued at $1,307,000 after purchasing an additional 311 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Zscaler by 17.9% during the 1st quarter. Mackenzie Financial Corp now owns 6,326 shares of the company's stock valued at $1,255,000 after purchasing an additional 960 shares in the last quarter. TCW Group Inc. bought a new position in Zscaler during the 1st quarter valued at $2,090,000. Finally, TD Asset Management Inc boosted its stake in Zscaler by 181.8% during the 1st quarter. TD Asset Management Inc now owns 297,500 shares of the company's stock valued at $59,030,000 after purchasing an additional 191,926 shares in the last quarter. 46.45% of the stock is owned by institutional investors.

Zscaler Stock Down 0.8%

ZS stock opened at $285.56 on Friday. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $318.46. The company has a market cap of $44.46 billion, a PE ratio of -1,098.31 and a beta of 1.11. The business's 50-day simple moving average is $294.68 and its 200 day simple moving average is $237.56.

Zscaler (NASDAQ:ZS - Get Free Report) last released 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 for 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% compared to the same quarter last year. During the same period last year, the business earned $0.88 earnings per share. On average, equities research analysts anticipate that Zscaler, Inc. will post -0.1 EPS for the current year.

Insider Activity

In other news, insider Robert Schlossman sold 4,618 shares of Zscaler stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $300.00, for a total value of $1,385,400.00. Following the completion of the transaction, the insider owned 95,612 shares in the company, valued at approximately $28,683,600. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Adam Geller sold 3,662 shares of Zscaler stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $306.72, for a total transaction of $1,123,208.64. Following the completion of the transaction, the insider 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. Over the last quarter, insiders have sold 200,793 shares of company stock valued at $58,752,794. 18.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ZS shares. Barclays increased their price objective on Zscaler from $275.00 to $290.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Susquehanna increased their price objective on Zscaler from $245.00 to $320.00 and gave the company a "positive" rating in a research report on Friday, May 30th. Needham & Company LLC increased their price objective on Zscaler from $240.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Morgan Stanley increased their price objective on Zscaler from $200.00 to $280.00 and gave the company an "equal weight" rating in a research report on Friday, May 30th. Finally, Guggenheim reiterated a "neutral" rating on shares of Zscaler in a research report on Friday, May 30th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $296.82.

About Zscaler

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.

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