2,393 Shares in Zscaler, Inc. (NASDAQ:ZS) Bought by Secure Asset Management LLC

Secure Asset Management LLC purchased a new stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,393 shares of the company's stock, valued at approximately $475,000.

Other large investors have also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. increased its position in Zscaler by 1.7% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 12,512 shares of the company's stock worth $2,483,000 after buying an additional 208 shares during the last quarter. Merit Financial Group LLC raised its holdings in Zscaler by 42.0% in the 1st quarter. Merit Financial Group LLC now owns 6,197 shares of the company's stock valued at $1,230,000 after acquiring an additional 1,832 shares in the last quarter. Woodstock Corp raised its stake in Zscaler by 32.8% in the first quarter. Woodstock Corp now owns 47,852 shares of the company's stock valued at $9,495,000 after purchasing an additional 11,817 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Zscaler by 3.7% during the 1st quarter. Rhumbline Advisers now owns 133,305 shares of the company's stock worth $26,450,000 after acquiring an additional 4,726 shares during the period. Finally, Red Spruce Capital LLC boosted its position in shares of Zscaler by 1.9% during the 1st quarter. Red Spruce Capital LLC now owns 16,316 shares of the company's stock worth $3,237,000 after acquiring an additional 301 shares in the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. KeyCorp boosted their target price on Zscaler from $290.00 to $310.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Stifel Nicolaus upped their price objective on shares of Zscaler from $270.00 to $295.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Canaccord Genuity Group set a $305.00 target price on shares of Zscaler and gave the company a "buy" rating in a research report on Monday. Truist Financial reaffirmed a "buy" rating and set a $300.00 target price (up previously from $260.00) on shares of Zscaler in a research note on Friday, May 30th. Finally, Susquehanna raised their price objective on Zscaler from $245.00 to $320.00 and gave the company a "positive" rating in a report on Friday, May 30th. Ten research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Zscaler has a consensus rating of "Moderate Buy" and an average target price of $283.85.

Zscaler Stock Performance

NASDAQ ZS traded up $2.15 on Friday, hitting $303.03. The stock had a trading volume of 3,015,367 shares, compared to its average volume of 2,068,719. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $306.71. The company has a market capitalization of $46.89 billion, a price-to-earnings ratio of -1,212.12 and a beta of 1.14. The firm has a 50-day moving average of $227.81 and a 200-day moving average of $208.86.

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

Insiders Place Their Bets

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the transaction, the chief executive officer now owns 356,414 shares in the company, valued at $70,979,848.10. This represents a 0.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the transaction, the insider now directly owns 2,580,210 shares of the company's stock, valued at approximately $517,822,344.90. This trade represents a 6.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 266,722 shares of company stock worth $57,583,648. 18.10% of the stock is currently owned by company insiders.

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.