Wealth Enhancement Advisory Services LLC Has $4.98 Million Holdings in Zscaler, Inc. (NASDAQ:ZS)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 10.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,072 shares of the company's stock after purchasing an additional 2,378 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Zscaler were worth $4,975,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in shares of Zscaler during the fourth quarter worth $27,000. CVA Family Office LLC lifted its holdings in Zscaler by 120.3% during the first quarter. CVA Family Office LLC now owns 152 shares of the company's stock worth $30,000 after acquiring an additional 83 shares in the last quarter. Colonial Trust Co SC bought a new position in Zscaler during the fourth quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Zscaler by 295.0% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 158 shares of the company's stock worth $31,000 after acquiring an additional 118 shares in the last quarter. Finally, Elequin Capital LP bought a new position in Zscaler during the fourth quarter worth about $30,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Trading Up 1.1%

ZS stock opened at $311.98 on Thursday. The firm has a market capitalization of $48.58 billion, a PE ratio of -1,199.92 and a beta of 1.09. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $316.44. The business's 50 day simple moving average is $258.76 and its 200 day simple moving average is $218.30.

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

Insider Buying and Selling at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,849 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total transaction of $865,241.30. Following the sale, the chief executive officer now directly owns 353,565 shares of the company's stock, valued at approximately $107,377,690.50. This represents a 0.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Adam Geller sold 3,662 shares of the stock in a transaction 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 sale, the insider now directly owns 46,813 shares in the company, valued at approximately $14,358,483.36. This trade represents a 7.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 210,793 shares of company stock valued at $60,812,794 in the last ninety days. 18.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Sanford C. Bernstein reiterated an "outperform" rating and set a $244.00 target price on shares of Zscaler in a report on Thursday, March 6th. Susquehanna lifted their target price on Zscaler from $245.00 to $320.00 and gave the stock a "positive" rating in a report on Friday, May 30th. Wall Street Zen upgraded Zscaler from a "hold" rating to a "buy" rating in a report on Sunday, June 8th. BNP Paribas upgraded Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 target price on the stock in a report on Monday, April 28th. Finally, Evercore ISI lifted their target price on Zscaler from $245.00 to $290.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $294.03.

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.

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