Dakota Wealth Management Purchases New Holdings in Zscaler, Inc. (NASDAQ:ZS)

Dakota Wealth Management purchased a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,273 shares of the company's stock, valued at approximately $1,245,000.

Several other institutional investors have also made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of Zscaler by 43.1% during the first quarter. GAMMA Investing LLC now owns 641 shares of the company's stock worth $127,000 after buying an additional 193 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Zscaler by 47.4% during the first quarter. Allworth Financial LP now owns 1,002 shares of the company's stock worth $211,000 after buying an additional 322 shares in the last quarter. Krane Funds Advisors LLC increased its holdings in shares of Zscaler by 36.4% during the first quarter. Krane Funds Advisors LLC now owns 1,667 shares of the company's stock worth $331,000 after buying an additional 445 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of Zscaler by 42.0% during the first quarter. Merit Financial Group LLC now owns 6,197 shares of the company's stock worth $1,230,000 after buying an additional 1,832 shares in the last quarter. Finally, Arlington Capital Management Inc. acquired a new position in shares of Zscaler during the fourth quarter worth $2,107,000. 46.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zscaler

In other Zscaler news, Director Andrew William Fraser Brown sold 20,333 shares of Zscaler stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $296.72, for a total value of $6,033,207.76. Following the sale, the director directly owned 27,216 shares in the company, valued at approximately $8,075,531.52. The trade was a 42.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert Schlossman sold 4,618 shares of Zscaler stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $300.00, for a total transaction of $1,385,400.00. Following the completion of the sale, the insider owned 95,612 shares in the company, valued at approximately $28,683,600. This represents a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 200,793 shares of company stock worth $58,752,794. Insiders own 18.10% of the company's stock.

Zscaler Price Performance

NASDAQ ZS traded down $1.17 during trading on Thursday, hitting $286.59. 683,671 shares of the company's stock traded hands, compared to its average volume of 2,063,183. The stock has a fifty day moving average of $285.59 and a two-hundred day moving average of $229.84. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $318.46. The firm has a market cap of $44.62 billion, a P/E ratio of -1,102.90 and a beta of 1.11.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its earnings results 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 net margin of 1.52% and a negative return on equity of 0.59%. The business had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. During the same quarter last year, the firm earned $0.88 earnings per share. The business's revenue for the quarter was up 22.6% on a year-over-year basis. As a group, analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ZS has been the subject of a number of recent research reports. Piper Sandler restated a "neutral" rating and issued a $260.00 price objective (up from $235.00) on shares of Zscaler in a report on Friday, May 30th. Needham & Company LLC increased their price objective on Zscaler from $240.00 to $310.00 and gave the company a "buy" rating in a report on Friday, May 30th. Barclays increased their price objective on Zscaler from $275.00 to $290.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Wall Street Zen upgraded Zscaler from a "hold" rating to a "buy" rating in a report on Sunday, June 8th. Finally, Canaccord Genuity Group set a $305.00 price target on Zscaler and gave the stock a "buy" rating in a report on Monday, June 2nd. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $296.82.

About Zscaler

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.