Prosperity Financial Group Inc. Buys New Shares in Zscaler, Inc. $ZS

Prosperity Financial Group Inc. bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,487 shares of the company's stock, valued at approximately $2,037,000.

Other institutional investors have also recently made changes to their positions in the company. Forum Financial Management LP grew its stake in shares of Zscaler by 10.6% in the second quarter. Forum Financial Management LP now owns 1,168 shares of the company's stock valued at $367,000 after buying an additional 112 shares in the last quarter. Ethic Inc. raised its position in Zscaler by 60.8% during the second quarter. Ethic Inc. now owns 7,998 shares of the company's stock worth $2,522,000 after acquiring an additional 3,025 shares in the last quarter. Parcion Private Wealth LLC lifted its stake in Zscaler by 3.3% in the second quarter. Parcion Private Wealth LLC now owns 1,200 shares of the company's stock valued at $377,000 after acquiring an additional 38 shares during the last quarter. Cookson Peirce & Co. Inc. bought a new position in shares of Zscaler in the 2nd quarter valued at about $1,279,000. Finally, Brookstone Capital Management bought a new stake in shares of Zscaler in the 2nd quarter valued at about $283,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Susquehanna boosted their price target on Zscaler from $320.00 to $340.00 and gave the stock a "positive" rating in a research report on Wednesday, September 3rd. B. Riley initiated coverage on shares of Zscaler in a report on Tuesday, August 26th. They issued a "neutral" rating and a $275.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target on Zscaler from $348.00 to $351.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Needham & Company LLC reaffirmed a "buy" rating and issued a $350.00 price objective on shares of Zscaler in a report on Wednesday, September 3rd. Finally, Guggenheim reissued a "neutral" rating on shares of Zscaler in a report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Zscaler has an average rating of "Moderate Buy" and an average price target of $307.86.

Insider Buying and Selling

In other news, insider Robert Schlossman sold 7,006 shares of the firm's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $305.57, for a total transaction of $2,140,823.42. Following the completion of the transaction, the insider directly owned 76,132 shares in the company, valued at $23,263,655.24. This trade represents a 8.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raj Judge sold 4,524 shares of Zscaler stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $280.70, for a total value of $1,269,886.80. Following the completion of the transaction, the executive vice president directly owned 73,832 shares in the company, valued at approximately $20,724,642.40. This represents a 5.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,884 shares of company stock valued at $11,406,825. Company insiders own 18.10% of the company's stock.

Zscaler Price Performance

Zscaler stock opened at $307.92 on Thursday. The company has a market capitalization of $48.74 billion, a PE ratio of -1,140.44 and a beta of 1.06. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.95. The stock has a 50-day moving average price of $288.61 and a two-hundred day moving average price of $272.79. Zscaler, Inc. has a 12 month low of $164.78 and a 12 month high of $319.89.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings data on Tuesday, September 2nd. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.09. Zscaler had a negative net margin of 1.55% and a negative return on equity of 0.47%. The business had revenue of $719.23 million during the quarter, compared to analyst estimates of $707.15 million. During the same quarter last year, the business earned $0.88 EPS. The firm's quarterly revenue was up 21.3% on a year-over-year basis. Zscaler has set its FY 2026 guidance at 3.640-3.680 EPS. Q1 2026 guidance at 0.850-0.860 EPS. Analysts expect that Zscaler, Inc. will post -0.1 EPS 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.

Want to see what other hedge funds are holding ZS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zscaler, Inc. (NASDAQ:ZS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.