Triumph Capital Management Has $123,000 Position in Zscaler, Inc. $ZS

Key Points

• Triumph Capital Management cut its Zscaler stake by 88.4% in the second quarter, selling 6,622 shares and retaining 868 shares worth approximately $123,000.
• Zscaler shares opened at $172.73, while the stock’s 52-week range was $114.63 to $336.99. Institutional investors own 46.45% of the company, and insiders own 17.20%.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $213.10, despite several recent target-price reductions.

Triumph Capital Management lessened its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 88.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 868 shares of the company's stock after selling 6,622 shares during the period. Triumph Capital Management's holdings in Zscaler were worth $123,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Binnacle Investments Inc bought a new stake in shares of Zscaler in the 3rd quarter worth approximately $25,000. AlphaCentric Advisors LLC acquired a new position in shares of Zscaler in the fourth quarter valued at $29,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Zscaler in the fourth quarter valued at $30,000. Mcguire Capital Advisors Inc. bought a new position in Zscaler in the fourth quarter worth $32,000. Finally, Western Wealth Management LLC acquired a new stake in Zscaler during the first quarter worth $33,000. 46.45% of the stock is currently owned by institutional investors.

Zscaler Trading Down 3.2%

ZS opened at $172.73 on Thursday. The firm has a 50 day simple moving average of $159.43 and a 200 day simple moving average of $150.39. The company has a market cap of $27.93 billion, a price-to-earnings ratio of -359.85, a price-to-earnings-growth ratio of 104.98 and a beta of 0.95. Zscaler, Inc. has a fifty-two week low of $114.63 and a fifty-two week high of $336.99. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.86.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ZS shares. Morgan Stanley lowered their price target on shares of Zscaler from $155.00 to $145.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 27th. Weiss Ratings upgraded shares of Zscaler from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, August 27th. Scotiabank decreased their target price on shares of Zscaler from $190.00 to $175.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, May 27th. B. Riley Financial dropped their price target on shares of Zscaler from $225.00 to $215.00 and set a "buy" rating for the company in a research report on Wednesday, May 27th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $210.00 price target on shares of Zscaler in a research note on Thursday, June 11th. Thirty-four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $213.10.

Insider Buying and Selling

In other Zscaler news, insider Robert Schlossman sold 3,146 shares of the firm's stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $126.43, for a total transaction of $397,748.78. Following the transaction, the insider owned 69,366 shares in the company, valued at approximately $8,769,943.38. This trade represents a 4.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Adam Geller sold 2,817 shares of Zscaler stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $122.60, for a total transaction of $345,364.20. Following the transaction, the insider directly owned 42,314 shares in the company, valued at $5,187,696.40. The trade was a 6.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 16,772 shares of company stock worth $2,139,799. Corporate insiders own 17.20% of the company's stock.

About Zscaler

Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.

Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.

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