Azzad Asset Management Inc. ADV lessened its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 17.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 15,592 shares of the company's stock after selling 3,196 shares during the quarter. Azzad Asset Management Inc. ADV's holdings in Zscaler were worth $3,094,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Summit Securities Group LLC acquired a new position in shares of Zscaler in the 4th quarter worth approximately $27,000. 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 buying an additional 83 shares during the last quarter. Colonial Trust Co SC bought a new stake in shares of Zscaler in the 4th quarter worth $28,000. Stonebridge Financial Group LLC bought a new stake in shares of Zscaler in the 4th quarter worth $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Zscaler by 295.0% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 158 shares of the company's stock worth $31,000 after acquiring an additional 118 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.
Analyst Ratings Changes
Several research firms have commented on ZS. BMO Capital Markets upped their price objective on shares of Zscaler from $233.00 to $295.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Wall Street Zen raised shares of Zscaler from a "hold" rating to a "buy" rating in a report on Sunday, June 8th. Oppenheimer upped their price objective on shares of Zscaler from $290.00 to $345.00 and gave the company an "outperform" rating in a report on Friday, June 6th. Roth Capital reaffirmed a "neutral" rating on shares of Zscaler in a report on Wednesday, May 28th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $260.00 price objective (up from $235.00) on shares of Zscaler 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $292.38.
Check Out Our Latest Stock Analysis on Zscaler
Zscaler Trading Up 0.2%
NASDAQ:ZS traded up $0.52 during mid-day trading on Friday, reaching $301.95. The company's stock had a trading volume of 2,065,800 shares, compared to its average volume of 2,053,438. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $306.78. The stock has a market cap of $47.01 billion, a P/E ratio of -1,207.80 and a beta of 1.09. The firm's fifty day moving average price is $241.25 and its two-hundred day moving average price is $212.72.
Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, beating 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 firm had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. During the same quarter in the prior year, the firm earned $0.88 EPS. The business's revenue for the quarter was up 22.6% compared to the same quarter last year. Analysts predict that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was 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 in the company, valued at $70,979,848.10. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ajay Mangal sold 120,000 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $300.89, for a total value of $36,106,800.00. Following the completion of the sale, the insider now owns 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. In the last ninety days, insiders sold 386,722 shares of company stock valued at $93,690,448. 18.10% of the stock is owned by corporate insiders.
About Zscaler
(
Free Report)
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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