Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Archford Capital Strategies LLC

Archford Capital Strategies LLC lowered its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 67.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,306 shares of the company's stock after selling 2,759 shares during the period. Archford Capital Strategies LLC's holdings in Zscaler were worth $259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in ZS. ORG Partners LLC lifted its holdings in Zscaler by 284.8% during the 1st quarter. ORG Partners LLC now owns 127 shares of the company's stock worth $26,000 after buying an additional 94 shares during the last quarter. Summit Securities Group LLC purchased a new stake in Zscaler during the fourth quarter worth approximately $27,000. Colonial Trust Co SC purchased a new position in Zscaler in the fourth quarter valued at approximately $28,000. Elequin Capital LP purchased a new position in Zscaler in the fourth quarter valued at approximately $30,000. Finally, CVA Family Office LLC raised its holdings 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. Hedge funds and other institutional investors own 46.45% of the company's stock.

Zscaler Price Performance

ZS traded up $2.50 during trading on Friday, reaching $316.35. 487,253 shares of the stock were exchanged, compared to its average volume of 2,059,050. The company has a market capitalization of $49.26 billion, a price-to-earnings ratio of -1,216.08 and a beta of 1.09. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $317.18. The business's 50 day moving average price is $261.01 and its two-hundred day moving average price is $219.04.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on ZS shares. Stifel Nicolaus upped their target price on shares of Zscaler from $270.00 to $295.00 and gave the company a "buy" rating in a report on Friday, May 30th. Rosenblatt Securities boosted their price target on shares of Zscaler from $235.00 to $315.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Sanford C. Bernstein restated an "outperform" rating and issued a $244.00 price objective on shares of Zscaler in a research note on Thursday, March 6th. JMP Securities lifted their target price on Zscaler from $240.00 to $310.00 and gave the stock a "market outperform" rating in a research report on Friday, May 30th. Finally, Susquehanna boosted their target price on Zscaler from $245.00 to $320.00 and gave the company a "positive" rating in a report on Friday, May 30th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Zscaler currently has a consensus rating of "Moderate Buy" and an average target price of $295.50.

Insider Buying and Selling at Zscaler

In other Zscaler news, Director Andrew William Fraser Brown sold 10,000 shares of Zscaler stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total value of $2,060,000.00. Following the completion of the sale, the director now directly owns 27,216 shares of the company's stock, valued at approximately $5,606,496. The trade was a 26.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Adam Geller sold 3,662 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $306.72, for a total value of $1,123,208.64. Following the sale, the insider now owns 46,813 shares in the company, 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 90 days, insiders have sold 210,793 shares of company stock worth $60,812,794. 18.10% of the stock is owned by insiders.

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.