Sienna Gestion Invests $434,000 in Zscaler, Inc. (NASDAQ:ZS)

Key Points

• Sienna Gestion has acquired 2,250 shares of Zscaler, Inc. (NASDAQ:ZS) during Q1, valued at approximately $434,000.
• Several brokerages have increased their price targets for Zscaler, with Wedbush raising its target from $240.00 to $300.00, and Susquehanna from $245.00 to $320.00.
• Zscaler reported $678.03 million in revenue for the last quarter, exceeding analyst expectations, with a year-over-year growth of 22.6%.

Sienna Gestion purchased a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,250 shares of the company's stock, valued at approximately $434,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Quintet Private Bank Europe S.A. increased its position in Zscaler by 4.7% in the 1st quarter. Quintet Private Bank Europe S.A. now owns 1,120 shares of the company's stock worth $222,000 after purchasing an additional 50 shares during the last quarter. Cerity Partners LLC grew its position in Zscaler by 0.3% during the first quarter. Cerity Partners LLC now owns 22,928 shares of the company's stock worth $4,549,000 after buying an additional 68 shares in the last quarter. Koshinski Asset Management Inc. lifted its stake in Zscaler by 2.6% during the first quarter. Koshinski Asset Management Inc. now owns 2,801 shares of the company's stock worth $556,000 after purchasing an additional 70 shares during the period. Choreo LLC raised its stake in shares of Zscaler by 2.7% in the first quarter. Choreo LLC now owns 2,909 shares of the company's stock valued at $577,000 after acquiring an additional 76 shares during the last quarter. Finally, GSB Wealth Management LLC raised its position in Zscaler by 3.5% in the 1st quarter. GSB Wealth Management LLC now owns 2,395 shares of the company's stock worth $475,000 after purchasing an additional 80 shares during the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Stock Performance

Zscaler stock traded up $3.98 during midday trading on Friday, reaching $274.97. 877,310 shares of the stock were exchanged, compared to its average volume of 1,485,647. The company's fifty day moving average is $295.02 and its 200-day moving average is $244.67. The firm has a market cap of $42.81 billion, a PE ratio of -1,057.58, a PEG ratio of 246.53 and a beta of 1.06. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $318.46.

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

Insider Buying and Selling

In other news, EVP Raj Judge sold 2,957 shares of Zscaler stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total transaction of $898,040.90. Following the sale, the executive vice president owned 76,289 shares of the company's stock, valued at approximately $23,168,969.30. The trade was a 3.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert Schlossman sold 3,174 shares of Zscaler stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $305.07, for a total transaction of $968,292.18. Following the sale, the insider directly owned 88,970 shares in the company, valued at $27,142,077.90. The trade was a 3.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,256 shares of company stock worth $50,618,544 in the last ninety days. 18.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. JMP Securities increased their price objective on shares of Zscaler from $310.00 to $355.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 1st. Evercore ISI increased their price target on shares of Zscaler from $245.00 to $290.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Stifel Nicolaus raised their target price on shares of Zscaler from $270.00 to $295.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Piper Sandler reiterated a "neutral" rating and set a $260.00 price target (up previously from $235.00) on shares of Zscaler in a report on Friday, May 30th. Finally, Wedbush boosted their target price on shares of Zscaler from $240.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Zscaler currently has a consensus rating of "Moderate Buy" and an average price target of $296.82.

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.