Emerald Advisers LLC Purchases Shares of 3,059 Zscaler, Inc. (NASDAQ:ZS)

Emerald Advisers LLC bought a new position in Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 3,059 shares of the company's stock, valued at approximately $607,000.

A number of other institutional investors have also added to or reduced their stakes in ZS. Quintet Private Bank Europe S.A. boosted its stake in shares of Zscaler by 4.7% in the first quarter. Quintet Private Bank Europe S.A. now owns 1,120 shares of the company's stock valued at $222,000 after purchasing an additional 50 shares during the period. Corebridge Financial Inc. lifted its holdings in Zscaler by 0.5% during the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company's stock worth $2,110,000 after buying an additional 54 shares in the last quarter. Cerity Partners LLC lifted its holdings in Zscaler by 0.3% during the 1st quarter. Cerity Partners LLC now owns 22,928 shares of the company's stock worth $4,549,000 after buying an additional 68 shares in the last quarter. Koshinski Asset Management Inc. boosted its position in Zscaler by 2.6% in the 1st quarter. Koshinski Asset Management Inc. now owns 2,801 shares of the company's stock valued at $556,000 after buying an additional 70 shares during the period. Finally, GSB Wealth Management LLC grew its stake in shares of Zscaler by 3.5% in the first quarter. GSB Wealth Management LLC now owns 2,395 shares of the company's stock worth $475,000 after acquiring an additional 80 shares in the last quarter. Institutional investors own 46.45% of the company's stock.

Analyst Upgrades and Downgrades

ZS has been the subject of several research analyst reports. Stephens restated an "overweight" rating and issued a $255.00 target price on shares of Zscaler in a report on Tuesday, May 27th. Piper Sandler reiterated a "neutral" rating and issued a $260.00 target price (up from $235.00) on shares of Zscaler in a research note on Friday, May 30th. Needham & Company LLC boosted their price target on shares of Zscaler from $240.00 to $310.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. FBN Securities raised Zscaler to a "strong-buy" rating in a report on Friday, May 30th. Finally, Stifel Nicolaus boosted their price target on Zscaler from $270.00 to $295.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Eight investment 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 a consensus target price of $296.82.

Insiders Place Their Bets

In other news, major shareholder Ajay Mangal sold 120,000 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $300.89, for a total transaction of $36,106,800.00. Following the transaction, the insider directly owned 2,550,210 shares of the company's stock, valued at approximately $767,332,686.90. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Schlossman sold 4,618 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 95,612 shares in the company, valued at approximately $28,683,600. The trade was a 4.61% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 200,793 shares of company stock worth $58,752,794. 18.10% of the stock is owned by company insiders.

Zscaler Trading Up 0.5%

Zscaler stock traded up $1.40 during mid-day trading on Monday, reaching $291.14. The company's stock had a trading volume of 1,780,605 shares, compared to its average volume of 2,304,388. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $318.46. The business has a 50 day moving average price of $282.23 and a 200-day moving average price of $228.27. The firm has a market cap of $45.33 billion, a price-to-earnings ratio of -1,119.77 and a beta of 1.11.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.08. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The business had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. During the same quarter in the previous year, the firm posted $0.88 EPS. The business's revenue for the quarter was up 22.6% compared to the same quarter last year. On average, equities 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.