Cwm LLC Boosts Holdings in Zscaler, Inc. (NASDAQ:ZS)

CWM LLC boosted its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 19.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 22,274 shares of the company's stock after purchasing an additional 3,679 shares during the quarter. CWM LLC's holdings in Zscaler were worth $4,420,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ZS. Emerald Advisers LLC purchased a new stake in shares of Zscaler during the 1st quarter valued at about $607,000. New York State Common Retirement Fund boosted its holdings in shares of Zscaler by 1.8% during the 1st quarter. New York State Common Retirement Fund now owns 50,774 shares of the company's stock valued at $10,075,000 after acquiring an additional 900 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of Zscaler by 8.5% during the 1st quarter. Arizona State Retirement System now owns 28,831 shares of the company's stock valued at $5,721,000 after acquiring an additional 2,269 shares during the last quarter. Ballentine Partners LLC boosted its holdings in shares of Zscaler by 4.7% during the 1st quarter. Ballentine Partners LLC now owns 2,066 shares of the company's stock valued at $410,000 after acquiring an additional 92 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in shares of Zscaler by 5.7% during the 1st quarter. Xponance Inc. now owns 18,097 shares of the company's stock valued at $3,591,000 after acquiring an additional 970 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Trading Down 0.5%

ZS traded down $1.47 during trading hours on Thursday, hitting $286.29. The company's stock had a trading volume of 2,162,307 shares, compared to its average volume of 2,069,004. The business's 50-day moving average price is $285.59 and its 200-day moving average price is $229.84. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $318.46.

Zscaler (NASDAQ:ZS - Get Free Report) last announced 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 1.52% and a negative return on equity of 0.59%. The company had revenue of $678.03 million for the quarter, compared to analysts' expectations of $667.13 million. During the same quarter in the previous year, the business posted $0.88 earnings per share. Zscaler's quarterly revenue was up 22.6% on a year-over-year basis. Sell-side analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ZS has been the topic of a number of recent analyst reports. Piper Sandler reaffirmed a "neutral" rating and set a $260.00 price target (up previously from $235.00) on shares of Zscaler in a report on Friday, May 30th. Scotiabank increased their price objective on shares of Zscaler from $310.00 to $360.00 and gave the stock a "sector outperform" rating in a research note on Friday, June 6th. Mizuho increased their price objective on shares of Zscaler from $275.00 to $290.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Guggenheim reiterated a "neutral" rating on shares of Zscaler in a research note on Friday, May 30th. Finally, Truist Financial reiterated a "buy" rating and issued a $300.00 price objective (up previously from $260.00) on shares of Zscaler in a research note on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $296.82.

Insider Buying and Selling

In other Zscaler news, EVP Raj Judge sold 2,957 shares of Zscaler stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total transaction of $898,040.90. Following the completion of the transaction, the executive vice president directly owned 76,289 shares of the company's stock, valued at $23,168,969.30. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Schlossman sold 3,174 shares of Zscaler stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $305.07, for a total transaction of $968,292.18. Following the transaction, the insider directly owned 88,970 shares of the company's stock, valued at $27,142,077.90. The trade was a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 200,793 shares of company stock valued at $58,752,794 in the last three months. Corporate insiders own 18.10% of the company's stock.

Zscaler Company 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.