Armstrong Fleming & Moore Inc Makes New Investment in Zscaler, Inc. (NASDAQ:ZS)

Armstrong Fleming & Moore Inc acquired a new stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 1,290 shares of the company's stock, valued at approximately $256,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ZS. LaFleur & Godfrey LLC lifted its position in Zscaler by 0.6% during the fourth quarter. LaFleur & Godfrey LLC now owns 61,985 shares of the company's stock valued at $11,183,000 after buying an additional 399 shares during the period. Yousif Capital Management LLC purchased a new position in Zscaler during the 4th quarter valued at about $214,000. Choreo LLC lifted its position in Zscaler by 2.6% during the 4th quarter. Choreo LLC now owns 2,833 shares of the company's stock valued at $517,000 after acquiring an additional 73 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Zscaler by 3.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 224,648 shares of the company's stock worth $40,529,000 after acquiring an additional 6,532 shares in the last quarter. Finally, Ameliora Wealth Management Ltd. purchased a new stake in Zscaler in the fourth quarter worth about $190,000. Hedge funds and other institutional investors own 46.45% of the company's stock.

Insider Activity at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the sale, the chief executive officer now directly owns 356,414 shares of the company's stock, valued at $70,979,848.10. This represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert Schlossman sold 3,590 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $250.00, for a total transaction of $897,500.00. Following the sale, the insider now owns 100,230 shares in the company, valued at $25,057,500. The trade was a 3.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 241,771 shares of company stock worth $50,165,040. Corporate insiders own 18.10% of the company's stock.

Zscaler Stock Up 1.4%

Shares of NASDAQ:ZS opened at $300.88 on Friday. The stock has a market capitalization of $46.55 billion, a PE ratio of -1,203.52 and a beta of 1.14. The firm's 50 day moving average price is $227.81 and its 200-day moving average price is $208.86. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $303.73.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The business had revenue of $678.03 million for the quarter, compared to the consensus estimate of $667.13 million. During the same period last year, the firm earned $0.88 earnings per share. The company's quarterly revenue was up 22.6% on a year-over-year basis. Analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. BTIG Research lifted their target price on shares of Zscaler from $298.00 to $329.00 and gave the company a "buy" rating in a report on Wednesday. Wedbush lifted their price objective on Zscaler from $240.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Needham & Company LLC increased their target price on Zscaler from $240.00 to $310.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Mizuho raised their price target on Zscaler from $275.00 to $290.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, KeyCorp upped their price target on shares of Zscaler from $290.00 to $310.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Ten analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $280.76.

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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