Stratos Wealth Partners LTD. Buys Shares of 2,291 Zscaler, Inc. (NASDAQ:ZS)

Stratos Wealth Partners LTD. acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,291 shares of the company's stock, valued at approximately $455,000.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Zscaler by 43.1% during the 1st quarter. GAMMA Investing LLC now owns 641 shares of the company's stock worth $127,000 after buying an additional 193 shares during the period. Krane Funds Advisors LLC grew its position in Zscaler by 36.4% in the 1st quarter. Krane Funds Advisors LLC now owns 1,667 shares of the company's stock valued at $331,000 after purchasing an additional 445 shares during the period. Merit Financial Group LLC grew its position 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 purchasing an additional 1,832 shares during the period. Arlington Capital Management Inc. acquired a new stake in Zscaler in the 4th quarter valued at $2,107,000. Finally, DnB Asset Management AS grew its position in Zscaler by 66.8% in the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock valued at $120,403,000 after purchasing an additional 267,162 shares during the period. Institutional investors and hedge funds own 46.45% of the company's stock.

Insider Transactions at Zscaler

In other news, insider Adam Geller sold 3,662 shares of Zscaler stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $306.72, for a total value of $1,123,208.64. Following the completion of the transaction, the insider owned 46,813 shares in the company, valued at approximately $14,358,483.36. The trade was a 7.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Schlossman sold 4,618 shares of Zscaler stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $300.00, for a total value of $1,385,400.00. Following the completion of the transaction, the insider owned 95,612 shares of the company's stock, valued at approximately $28,683,600. This trade represents a 4.61% decrease in their position. The disclosure for this sale can be found here. Over the last three months, 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 Price Performance

Shares of Zscaler stock traded up $0.87 during trading on Friday, hitting $287.16. 1,052,298 shares of the company's stock traded hands, compared to its average volume of 2,065,094. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $318.46. The stock has a market capitalization of $44.71 billion, a P/E ratio of -1,102.39 and a beta of 1.11. The business has a 50-day simple moving average of $286.65 and a 200-day simple moving average of $230.55.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its 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. The business had revenue of $678.03 million for the quarter, compared to analysts' expectations of $667.13 million. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The business's revenue for the quarter was up 22.6% on a year-over-year basis. During the same period last year, the firm posted $0.88 earnings per share. On average, equities analysts predict that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on ZS shares. KeyCorp lifted their price target on shares of Zscaler from $290.00 to $310.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. FBN Securities upgraded Zscaler to a "strong-buy" rating in a research note on Friday, May 30th. Barclays boosted their price objective on Zscaler from $275.00 to $290.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Cantor Fitzgerald lifted their target price on Zscaler from $290.00 to $340.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Finally, Roth Capital reaffirmed a "neutral" rating on shares of Zscaler in a report on Wednesday, May 28th. Eight research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Zscaler currently has an average rating of "Moderate Buy" and an average target price of $296.82.

About Zscaler

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.