Avantax Advisory Services Inc. Increases Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Avantax Advisory Services Inc. increased its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 44.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,236 shares of the company's stock after acquiring an additional 1,602 shares during the quarter. Avantax Advisory Services Inc.'s holdings in Zscaler were worth $1,039,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC raised its holdings in Zscaler by 284.8% in the first quarter. ORG Partners LLC now owns 127 shares of the company's stock worth $26,000 after purchasing an additional 94 shares in the last quarter. Goodman Advisory Group LLC bought a new position in Zscaler in the first quarter worth $29,000. CVA Family Office LLC raised its holdings in Zscaler by 120.3% in 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. Colonial Trust Co SC bought a new position in Zscaler in the fourth quarter worth $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in Zscaler by 295.0% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 158 shares of the company's stock worth $31,000 after purchasing an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.

Zscaler Stock Down 1.9%

ZS stock opened at $280.27 on Friday. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $318.46. The stock has a market cap of $43.64 billion, a P/E ratio of -1,077.96 and a beta of 1.06. The business's 50-day moving average price is $295.21 and its 200-day moving average price is $238.56.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on ZS. Canaccord Genuity Group set a $305.00 price objective on Zscaler and gave the stock a "buy" rating in a report on Monday, June 2nd. Truist Financial reiterated a "buy" rating and issued a $300.00 price objective (up previously from $260.00) on shares of Zscaler in a report on Friday, May 30th. JPMorgan Chase & Co. raised their price target on Zscaler from $292.00 to $348.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Royal Bank Of Canada raised their price target on Zscaler from $288.00 to $304.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Finally, Oppenheimer raised their price target on Zscaler from $290.00 to $345.00 and gave the company an "outperform" rating in a report on Friday, June 6th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Zscaler presently has a consensus rating of "Moderate Buy" and an average price target of $296.82.

Insider Activity

In other Zscaler news, insider Adam Geller sold 3,662 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 46,813 shares in the company, valued at $14,358,483.36. This represents a 7.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Ajay Mangal sold 120,000 shares of Zscaler stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $300.89, for a total transaction of $36,106,800.00. Following the sale, the insider owned 2,550,210 shares in the company, valued at approximately $767,332,686.90. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 200,793 shares of company stock worth $58,752,794. 18.10% of the stock is currently owned by corporate 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.

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