Oak Thistle LLC Acquires New Stake in Zscaler, Inc. (NASDAQ:ZS)

Key Points

• Oak Thistle LLC has acquired a new position in Zscaler, Inc. worth approximately $396,000, buying 1,997 shares during the 1st quarter.
• Analyst ratings for Zscaler have seen significant upgrades, with target prices raised by multiple firms, including a boost from $295.00 to $315.00 by Robert W. Baird.
• Zscaler reported a 22.6% year-over-year revenue increase with earnings of $0.84 EPS for the last quarter, exceeding analyst estimates.

Oak Thistle LLC bought a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,997 shares of the company's stock, valued at approximately $396,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Partners LLC increased its position in shares of Zscaler by 284.8% during the 1st quarter. ORG Partners LLC now owns 127 shares of the company's stock worth $26,000 after purchasing an additional 94 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Zscaler during the 4th quarter worth approximately $27,000. Colonial Trust Co SC acquired a new position in shares of Zscaler during the 4th quarter worth approximately $28,000. Goodman Advisory Group LLC acquired a new position in shares of Zscaler during the 1st quarter worth approximately $29,000. Finally, Elequin Capital LP acquired a new position in shares of Zscaler during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ZS. Barclays lifted their target price on Zscaler from $275.00 to $290.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Loop Capital lifted their target price on Zscaler from $250.00 to $260.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Cantor Fitzgerald lifted their target price on Zscaler from $290.00 to $340.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Oppenheimer boosted their price target on Zscaler from $290.00 to $345.00 and gave the company an "outperform" rating in a research note on Friday, June 6th. Finally, Truist Financial restated a "buy" rating and issued a $300.00 price target (up from $260.00) on shares of Zscaler in a research note on Friday, May 30th. Seven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $296.82.

Insider Buying and Selling at Zscaler

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

Zscaler Stock Performance

Shares of Zscaler stock traded up $1.88 on Friday, hitting $286.18. The company had a trading volume of 1,001,220 shares, compared to its average volume of 1,856,509. The stock has a market capitalization of $44.56 billion, a price-to-earnings ratio of -1,100.69 and a beta of 1.11. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $318.46. The stock has a 50 day moving average of $291.76 and a 200-day moving average of $235.13.

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, beating analysts' consensus estimates of $0.76 by $0.08. The company had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. Zscaler's revenue was up 22.6% on a year-over-year basis. During the same period last year, the business posted $0.88 earnings per share. Equities analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current year.

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.