Mission Wealth Management LP Buys Shares of 6,191 Zscaler, Inc. (NASDAQ:ZS)

Mission Wealth Management LP purchased a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,191 shares of the company's stock, valued at approximately $1,228,000.

A number of other institutional investors and hedge funds have also modified their holdings of ZS. Merit Financial Group LLC increased its position in Zscaler by 42.0% during the 1st quarter. Merit Financial Group LLC now owns 6,197 shares of the company's stock worth $1,230,000 after purchasing an additional 1,832 shares in the last quarter. Arlington Capital Management Inc. purchased a new position in Zscaler in the 4th quarter valued at about $2,107,000. DnB Asset Management AS grew its holdings in shares of Zscaler by 66.8% during the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock worth $120,403,000 after buying an additional 267,162 shares in the last quarter. Norges Bank purchased a new stake in shares of Zscaler during the fourth quarter worth about $32,158,000. Finally, Light Street Capital Management LLC acquired a new position in shares of Zscaler in the fourth quarter valued at approximately $5,992,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Royal Bank Of Canada raised their target price on shares of Zscaler from $288.00 to $304.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. UBS Group reissued a "buy" rating and set a $315.00 price target (up previously from $260.00) on shares of Zscaler in a research note on Friday, May 30th. JMP Securities lifted their price objective on Zscaler from $240.00 to $310.00 and gave the company a "market outperform" rating in a research report on Friday, May 30th. Roth Capital reiterated a "neutral" rating on shares of Zscaler in a research note on Wednesday, May 28th. Finally, Citigroup reiterated a "buy" rating and issued a $240.00 target price (up from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $294.03.

Insider Transactions at Zscaler

In other news, major shareholder Ajay Mangal sold 120,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $300.89, for a total value of $36,106,800.00. Following the completion of the sale, the insider now directly owns 2,550,210 shares in the company, valued at approximately $767,332,686.90. The trade was a 4.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 3,590 shares of Zscaler stock in a transaction on Friday, May 16th. The stock was sold at an average price of $250.00, for a total transaction of $897,500.00. Following the completion of the transaction, the insider now directly owns 100,230 shares of the company's stock, valued at approximately $25,057,500. This represents a 3.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 187,488 shares of company stock valued at $53,719,658. Insiders own 18.10% of the company's stock.

Zscaler Stock Up 0.8%

Shares of NASDAQ ZS opened at $307.31 on Wednesday. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $309.19. The business has a 50 day moving average price of $245.91 and a two-hundred day moving average price of $214.17. The firm has a market cap of $47.85 billion, a PE ratio of -1,181.96 and a beta of 1.09.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share 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 1.52% and a negative return on equity of 0.59%. The business's quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 earnings per share. On average, analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current year.

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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