Private Advisor Group LLC Has $6.33 Million Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Private Advisor Group LLC grew its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,904 shares of the company's stock after purchasing an additional 2,515 shares during the period. Private Advisor Group LLC's holdings in Zscaler were worth $6,330,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ZS. GAMMA Investing LLC boosted its stake in Zscaler by 43.1% during the 1st quarter. GAMMA Investing LLC now owns 641 shares of the company's stock valued at $127,000 after purchasing an additional 193 shares during the period. Allworth Financial LP lifted its position in shares of Zscaler by 47.4% in the 1st quarter. Allworth Financial LP now owns 1,002 shares of the company's stock worth $211,000 after acquiring an additional 322 shares during the period. Krane Funds Advisors LLC lifted its position in shares of Zscaler by 36.4% during the 1st quarter. Krane Funds Advisors LLC now owns 1,667 shares of the company's stock worth $331,000 after buying an additional 445 shares during the period. Merit Financial Group LLC lifted its position in shares of 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 buying an additional 1,832 shares during the period. Finally, Arlington Capital Management Inc. bought a new position in shares of Zscaler during the 4th quarter worth approximately $2,107,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Stock Performance

ZS traded down $2.72 during trading on Tuesday, hitting $285.71. The stock had a trading volume of 1,159,580 shares, compared to its average volume of 2,064,528. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $318.46. The firm has a market capitalization of $44.48 billion, a P/E ratio of -1,098.88 and a beta of 1.11. The company's 50-day moving average price is $287.76 and its 200 day moving average price is $232.00.

Zscaler (NASDAQ:ZS - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.08. The company had revenue of $678.03 million for 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 firm's quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. As a group, equities analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

ZS has been the subject of a number of analyst reports. Oppenheimer lifted their price objective on Zscaler from $290.00 to $345.00 and gave the stock an "outperform" rating in a research note on Friday, June 6th. BNP Paribas upgraded Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 price target on the stock in a report on Monday, April 28th. Scotiabank boosted their price target on Zscaler from $310.00 to $360.00 and gave the company a "sector outperform" rating in a report on Friday, June 6th. Wedbush lifted their target price on Zscaler from $240.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Finally, BMO Capital Markets lifted their target price on Zscaler from $233.00 to $295.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $296.82.

Insider Activity at Zscaler

In other Zscaler news, insider Robert Schlossman sold 4,618 shares of the business's stock in a transaction dated 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 sale, the insider owned 95,612 shares in the company, valued at approximately $28,683,600. The trade was a 4.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Ajay Mangal sold 120,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were 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 directly owned 2,550,210 shares of the company's stock, valued at approximately $767,332,686.90. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 200,793 shares of company stock valued at $58,752,794. Company insiders own 18.10% of the company's stock.

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.