Pallas Capital Advisors LLC Purchases 3,856 Shares of Zscaler, Inc. (NASDAQ:ZS)

Pallas Capital Advisors LLC lifted its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 85.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,347 shares of the company's stock after acquiring an additional 3,856 shares during the quarter. Pallas Capital Advisors LLC's holdings in Zscaler were worth $1,656,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of ZS. Summit Securities Group LLC acquired a new position in shares of Zscaler during the fourth quarter valued at approximately $27,000. Colonial Trust Co SC purchased a new position in Zscaler in the fourth quarter valued at about $28,000. Stonebridge Financial Group LLC bought a new stake in Zscaler in the fourth quarter worth approximately $29,000. Elequin Capital LP bought a new position in Zscaler during the fourth quarter valued at about $30,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Zscaler by 295.0% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 158 shares of the company's stock worth $31,000 after purchasing an additional 118 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Stock Up 0.6%

Zscaler stock traded up $1.68 on Thursday, hitting $301.54. The company's stock had a trading volume of 1,048,915 shares, compared to its average volume of 2,055,937. The firm has a market cap of $46.95 billion, a P/E ratio of -1,206.16 and a beta of 1.09. Zscaler, Inc. has a one year low of $153.45 and a one year high of $306.78. The company has a fifty day moving average price of $236.33 and a 200-day moving average price of $211.46.

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

Insider Buying and Selling

In related news, insider Syam Nair sold 28,947 shares of Zscaler 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 now owns 110,566 shares of the company's stock, valued at $27,641,500. The trade was a 20.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ajay Mangal sold 120,000 shares of Zscaler stock in a transaction 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 sale, the insider now owns 2,550,210 shares in the company, valued at $767,332,686.90. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 386,722 shares of company stock valued at $93,690,448. 18.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ZS shares. Stephens reissued an "overweight" rating and issued a $255.00 price target on shares of Zscaler in a report on Tuesday, May 27th. BNP Paribas upgraded Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 target price for the company in a research report on Monday, April 28th. Guggenheim reiterated a "neutral" rating on shares of Zscaler in a research report on Friday, May 30th. Scotiabank boosted their price objective on shares of Zscaler from $310.00 to $360.00 and gave the stock a "sector outperform" rating in a research report on Friday, June 6th. Finally, Rosenblatt Securities upped their price target on shares of Zscaler from $235.00 to $315.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Nine equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $288.71.

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.