Wealthfront Advisers LLC Raises Holdings in Zscaler, Inc. (NASDAQ:ZS)

Wealthfront Advisers LLC lifted its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 15.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,670 shares of the company's stock after purchasing an additional 890 shares during the quarter. Wealthfront Advisers LLC's holdings in Zscaler were worth $1,323,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ZS. ORG Partners LLC boosted its stake in Zscaler by 284.8% in the first quarter. ORG Partners LLC now owns 127 shares of the company's stock valued at $26,000 after buying an additional 94 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Zscaler in the fourth quarter valued at about $27,000. Colonial Trust Co SC acquired a new stake in Zscaler in the fourth quarter valued at about $28,000. Goodman Advisory Group LLC acquired a new stake in Zscaler in the first quarter valued at about $29,000. Finally, Elequin Capital LP acquired a new stake in Zscaler in the fourth quarter valued at about $30,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zscaler

In related news, insider Adam Geller sold 3,662 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $306.72, for a total transaction of $1,123,208.64. Following the sale, the insider directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Syam Nair sold 4,064 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total value of $1,234,236.80. Following the sale, the insider owned 106,659 shares in the company, valued at approximately $32,392,338.30. The trade was a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,793 shares of company stock worth $58,752,794 in the last 90 days. 18.10% of the stock is owned by company insiders.

Zscaler Stock Up 0.8%

Zscaler stock traded up $2.43 during mid-day trading on Friday, reaching $288.72. 1,819,101 shares of the company's stock were exchanged, compared to its average volume of 2,071,037. The business's fifty day simple moving average is $287.76 and its 200 day simple moving average is $231.65. The firm has a market capitalization of $44.95 billion, a PE ratio of -1,110.46 and a beta of 1.11. Zscaler, Inc. has a one year low of $153.45 and a one year high of $318.46.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $678.03 million for the quarter, compared to analyst estimates 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 was up 22.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 earnings per share. On average, sell-side analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Analyst Ratings Changes

ZS has been the subject of several research reports. Robert W. Baird increased their target price on Zscaler from $295.00 to $315.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Stifel Nicolaus increased their target price on Zscaler from $270.00 to $295.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Bank of America increased their target price on Zscaler from $285.00 to $340.00 and gave the company a "buy" rating in a research report on Monday, June 9th. Wall Street Zen upgraded Zscaler from a "hold" rating to a "buy" rating in a research report on Sunday, June 8th. Finally, Evercore ISI increased their target price on Zscaler from $245.00 to $290.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average 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.