Oppenheimer & Co. Inc. Buys 856 Shares of Zscaler, Inc. (NASDAQ:ZS)

Oppenheimer & Co. Inc. grew its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 25.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,214 shares of the company's stock after buying an additional 856 shares during the period. Oppenheimer & Co. Inc.'s holdings in Zscaler were worth $836,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quintet Private Bank Europe S.A. grew its position in Zscaler by 4.7% during the first quarter. Quintet Private Bank Europe S.A. now owns 1,120 shares of the company's stock worth $222,000 after buying an additional 50 shares in the last quarter. Corebridge Financial Inc. grew its holdings in shares of Zscaler by 0.5% during the fourth quarter. Corebridge Financial Inc. now owns 11,695 shares of the company's stock worth $2,110,000 after purchasing an additional 54 shares in the last quarter. Erste Asset Management GmbH increased its position in shares of Zscaler by 0.6% in the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock worth $1,805,000 after purchasing an additional 56 shares during the last quarter. Ironwood Investment Management LLC raised its stake in Zscaler by 1.0% in the fourth quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock valued at $1,127,000 after purchasing an additional 64 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Zscaler by 16.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 482 shares of the company's stock valued at $88,000 after purchasing an additional 69 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Zscaler news, insider Adam Geller sold 3,662 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $306.72, for a total transaction of $1,123,208.64. Following the completion of the transaction, the insider now owns 46,813 shares of the company's stock, valued at approximately $14,358,483.36. This trade represents a 7.26% 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, EVP Raj Judge sold 2,957 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total value of $898,040.90. Following the transaction, the executive vice president now directly owns 76,289 shares of the company's stock, valued at approximately $23,168,969.30. This trade represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 210,793 shares of company stock worth $60,812,794 in the last quarter. 18.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ZS has been the topic of a number of research analyst reports. FBN Securities raised shares of Zscaler to a "strong-buy" rating in a report on Friday, May 30th. Roth Capital reaffirmed a "neutral" rating on shares of Zscaler in a report on Wednesday, May 28th. Barclays increased their target price on Zscaler from $275.00 to $290.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Evercore ISI lifted their price target on Zscaler from $245.00 to $290.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Finally, Citigroup reiterated a "buy" rating and set a $240.00 price objective (up from $235.00) on shares of Zscaler in a research report on Wednesday, March 5th. Eight investment 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. Based on data from MarketBeat.com, Zscaler has a consensus rating of "Moderate Buy" and a consensus target price of $295.50.

Zscaler Stock Up 0.5%

Shares of ZS stock opened at $315.32 on Monday. The firm has a market capitalization of $49.10 billion, a price-to-earnings ratio of -1,212.77 and a beta of 1.09. The stock has a fifty day moving average of $263.30 and a 200 day moving average of $220.00. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $317.26.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The business had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The company's revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.88 EPS. Equities research analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current 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.

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