Brooklyn FI LLC Purchases New Holdings in Zscaler, Inc. (NASDAQ:ZS)

Brooklyn FI LLC acquired a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,112 shares of the company's stock, valued at approximately $1,957,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Corebridge Financial Inc. boosted its holdings in shares of Zscaler by 0.5% in the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company's stock valued at $2,110,000 after buying an additional 54 shares in the last quarter. Erste Asset Management GmbH boosted its stake in Zscaler by 0.6% in the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock valued at $1,805,000 after acquiring an additional 56 shares in the last quarter. Ironwood Investment Management LLC boosted its stake in Zscaler by 1.0% in the fourth quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock valued at $1,127,000 after acquiring an additional 64 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Zscaler by 16.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 482 shares of the company's stock worth $88,000 after purchasing an additional 69 shares during the last quarter. Finally, Avior Wealth Management LLC increased its position in shares of Zscaler by 50.7% during the fourth quarter. Avior Wealth Management LLC now owns 214 shares of the company's stock worth $39,000 after purchasing an additional 72 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Zscaler

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the sale, the insider now directly owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. This trade represents a 6.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Syam Nair sold 28,947 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the completion of the sale, the insider now directly owns 110,566 shares in the company, valued at approximately $27,641,500. This trade represents a 20.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 241,771 shares of company stock valued at $50,165,040. 18.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ZS. Wells Fargo & Company increased their price target on Zscaler from $190.00 to $210.00 and gave the stock an "equal weight" rating in a report on Thursday, March 6th. Cantor Fitzgerald increased their target price on Zscaler from $250.00 to $275.00 and gave the company an "overweight" rating in a report on Tuesday. Stifel Nicolaus upped their price objective on shares of Zscaler from $235.00 to $270.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Scotiabank reiterated a "sector outperform" rating and issued a $242.00 price target (up from $225.00) on shares of Zscaler in a report on Wednesday, March 5th. Finally, Roth Capital restated a "neutral" rating on shares of Zscaler in a report on Wednesday. Eight analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $240.09.

Zscaler Trading Down 1.0%

NASDAQ:ZS traded down $2.54 during trading hours on Thursday, hitting $251.11. The stock had a trading volume of 4,191,862 shares, compared to its average volume of 2,058,437. The business has a 50 day simple moving average of $218.63 and a two-hundred day simple moving average of $205.55. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $269.21. The company has a market cap of $38.85 billion, a PE ratio of -1,004.44 and a beta of 1.14.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) 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%. Zscaler's revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 EPS. Research analysts expect that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

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.