Focus Partners Advisor Solutions LLC Acquires New Position in Zscaler, Inc. (NASDAQ:ZS)

Focus Partners Advisor Solutions LLC purchased 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 fund purchased 1,276 shares of the company's stock, valued at approximately $230,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Global X Japan Co. Ltd. raised its stake in shares of Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock valued at $25,000 after acquiring an additional 79 shares during the period. Summit Securities Group LLC acquired a new position in shares of Zscaler in the fourth quarter valued at approximately $27,000. Colonial Trust Co SC purchased a new stake in Zscaler during the 4th quarter worth approximately $28,000. Stonebridge Financial Group LLC purchased a new stake in Zscaler during the 4th quarter worth approximately $29,000. Finally, Crews Bank & Trust purchased a new stake in Zscaler during the 4th quarter worth approximately $36,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Zscaler

In related news, insider Syam Nair sold 28,947 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $250.00, for a total value 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. The trade was a 20.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the transaction, the insider now directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. The trade was a 6.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 241,771 shares of company stock worth $50,165,040 over the last ninety days. 18.10% of the stock is currently owned by corporate insiders.

Zscaler Trading Up 7.6%

Shares of NASDAQ ZS traded up $19.17 during midday trading on Friday, reaching $270.28. 4,772,719 shares of the stock were exchanged, compared to its average volume of 2,070,105. The company has a market capitalization of $41.82 billion, a P/E ratio of -1,081.75 and a beta of 1.14. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $273.57. The stock has a 50 day moving average price of $219.46 and a 200-day moving average price of $205.90.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.08. The business had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The company's quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 earnings per share. On average, analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on ZS. Stifel Nicolaus upped their target price on shares of Zscaler from $270.00 to $295.00 and gave the stock a "buy" rating in a research note on Friday. Rosenblatt Securities upped their price target on Zscaler from $235.00 to $315.00 and gave the stock a "buy" rating in a report on Friday. Jefferies Financial Group cut their price target on Zscaler from $245.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Citigroup restated a "buy" rating and set a $240.00 price target (up previously from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Finally, Cantor Fitzgerald upped their price target on Zscaler from $250.00 to $275.00 and gave the stock an "overweight" rating in a report on Tuesday. Nine research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $259.91.

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.