B. Metzler seel. Sohn & Co. AG purchased a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,056 shares of the company's stock, valued at approximately $855,000.
Several other hedge funds have also recently modified their holdings of ZS. Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of Zscaler by 1.4% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 2,569 shares of the company's stock worth $770,000 after acquiring an additional 36 shares in the last quarter. Parallel Advisors LLC boosted its position in Zscaler by 10.9% during the third quarter. Parallel Advisors LLC now owns 397 shares of the company's stock valued at $119,000 after purchasing an additional 39 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Zscaler by 7.5% during the second quarter. Smartleaf Asset Management LLC now owns 648 shares of the company's stock valued at $204,000 after purchasing an additional 45 shares in the last quarter. Larson Financial Group LLC grew its stake in Zscaler by 2.6% in the third quarter. Larson Financial Group LLC now owns 2,040 shares of the company's stock valued at $611,000 after purchasing an additional 52 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its stake in Zscaler by 6.1% in the third quarter. Crossmark Global Holdings Inc. now owns 976 shares of the company's stock valued at $292,000 after purchasing an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.
Zscaler Price Performance
NASDAQ ZS opened at $176.06 on Tuesday. The company has a market cap of $28.47 billion, a price-to-earnings ratio of -366.78, a PEG ratio of 106.97 and a beta of 0.94. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.86. The stock's fifty day moving average price is $152.01 and its 200 day moving average price is $150.11. Zscaler, Inc. has a 1 year low of $114.63 and a 1 year high of $336.99.
Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 26th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.07. The business had revenue of $850.48 million for the quarter, compared to the consensus estimate of $835.14 million. Zscaler had a negative return on equity of 0.37% and a negative net margin of 2.44%.The company's quarterly revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 EPS. As a group, equities research analysts forecast that Zscaler, Inc. will post 0.13 earnings per share for the current year.
Insider Buying and Selling at Zscaler
In other Zscaler news, insider Robert Schlossman sold 3,146 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $126.43, for a total transaction of $397,748.78. Following the completion of the transaction, the insider directly owned 69,366 shares of the company's stock, valued at approximately $8,769,943.38. This trade represents a 4.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jagtar Singh Chaudhry sold 2,878 shares of Zscaler stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $126.43, for a total transaction of $363,865.54. Following the sale, the chief executive officer owned 343,038 shares of the company's stock, valued at approximately $43,370,294.34. The trade was a 0.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 16,269 shares of company stock worth $2,052,589 in the last 90 days. Corporate insiders own 17.20% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Truist Financial set a $210.00 price target on shares of Zscaler in a research report on Wednesday, May 27th. Scotiabank cut their price objective on shares of Zscaler from $190.00 to $175.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, May 27th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Zscaler in a research note on Tuesday, June 9th. Royal Bank Of Canada reissued an "outperform" rating and set a $200.00 target price on shares of Zscaler in a research report on Wednesday, June 10th. Finally, Stifel Nicolaus raised their target price on shares of Zscaler from $175.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, August 19th. Thirty-four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $215.36.
Check Out Our Latest Stock Analysis on ZS
About Zscaler
(
Free Report)
Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.
Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.
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Want to see what other hedge funds are holding ZS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zscaler, Inc. (NASDAQ:ZS - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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