Jackson Creek Investment Advisors LLC Purchases New Position in Zscaler, Inc. (NASDAQ:ZS)

Jackson Creek Investment Advisors LLC purchased a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,990 shares of the company's stock, valued at approximately $395,000.

Other hedge funds also recently bought and sold shares of the company. ORG Partners LLC increased its stake in shares of Zscaler by 284.8% during the first quarter. ORG Partners LLC now owns 127 shares of the company's stock worth $26,000 after purchasing an additional 94 shares in the last quarter. Goodman Advisory Group LLC acquired a new stake in Zscaler in the 1st quarter worth about $29,000. Summit Securities Group LLC purchased a new stake in Zscaler during the 4th quarter worth approximately $27,000. CVA Family Office LLC increased its stake in Zscaler by 120.3% during the 1st quarter. CVA Family Office LLC now owns 152 shares of the company's stock worth $30,000 after buying an additional 83 shares in the last quarter. Finally, Colonial Trust Co SC acquired a new position in shares of Zscaler during the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 46.45% of the company's stock.

Insider Activity

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 stock was sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the transaction, the insider directly owned 110,566 shares of the company's stock, valued at approximately $27,641,500. The trade was a 20.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Robert Schlossman sold 4,618 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $300.00, for a total value of $1,385,400.00. Following the completion of the transaction, the insider owned 95,612 shares of the company's stock, valued at approximately $28,683,600. This represents a 4.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 200,793 shares of company stock valued at $58,752,794 over the last quarter. 18.10% of the stock is owned by insiders.

Zscaler Trading Up 0.8%

Shares of NASDAQ:ZS opened at $288.72 on Friday. The firm has a market cap of $44.95 billion, a price-to-earnings ratio of -1,110.46 and a beta of 1.11. The stock's 50-day moving average price is $287.76 and its two-hundred day moving average price is $231.30. 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, 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 company had revenue of $678.03 million for the quarter, compared to analyst estimates of $667.13 million. During the same quarter last year, the business earned $0.88 EPS. Zscaler's revenue for the quarter was up 22.6% on a year-over-year basis. As a group, research analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Mizuho upped their price objective on shares of Zscaler from $275.00 to $290.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Wedbush upped their price target on Zscaler from $240.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Cantor Fitzgerald lifted their price objective on Zscaler from $290.00 to $340.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Stephens reissued an "overweight" rating and set a $255.00 price objective on shares of Zscaler in a research note on Tuesday, May 27th. Finally, Wall Street Zen upgraded Zscaler from a "hold" rating to a "buy" rating in a report on Sunday, June 8th. Eight research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $296.82.

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.

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