Weatherly Asset Management L. P. Buys 1,010 Shares of Zscaler, Inc. (NASDAQ:ZS)

Weatherly Asset Management L. P. raised its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 7.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,750 shares of the company's stock after acquiring an additional 1,010 shares during the quarter. Weatherly Asset Management L. P.'s holdings in Zscaler were worth $2,728,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of Zscaler by 43.1% in the first quarter. GAMMA Investing LLC now owns 641 shares of the company's stock valued at $127,000 after purchasing an additional 193 shares during the period. Krane Funds Advisors LLC raised its position in shares of Zscaler by 36.4% in the first 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 raised its position in shares of Zscaler by 42.0% in the first 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. bought a new position in shares of Zscaler in the fourth quarter valued at approximately $2,107,000. Finally, DnB Asset Management AS raised its position in shares of Zscaler by 66.8% in the fourth 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. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Trading Down 2.2%

NASDAQ ZS traded down $6.44 on Friday, hitting $289.74. 2,273,010 shares of the company were exchanged, compared to its average volume of 2,075,401. The firm has a 50 day moving average of $282.23 and a two-hundred day moving average of $227.99. The company has a market cap of $45.11 billion, a P/E ratio of -1,114.38 and a beta of 1.11. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year 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 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 the consensus estimate of $667.13 million. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The firm's quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. Research analysts anticipate that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling at Zscaler

In related news, Director Andrew William Fraser Brown sold 20,333 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $296.72, for a total transaction of $6,033,207.76. Following the transaction, the director owned 27,216 shares in the company, valued at $8,075,531.52. This represents a 42.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Schlossman sold 4,618 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $300.00, for a total transaction of $1,385,400.00. Following the transaction, the insider owned 95,612 shares in the company, valued at approximately $28,683,600. The trade was a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 200,793 shares of company stock worth $58,752,794 over the last quarter. Corporate insiders own 18.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ZS. Mizuho boosted their target price on shares of Zscaler from $275.00 to $290.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Scotiabank boosted their target price on shares of Zscaler from $310.00 to $360.00 and gave the stock a "sector outperform" rating in a research report on Friday, June 6th. JPMorgan Chase & Co. boosted their target price on shares of Zscaler from $292.00 to $348.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. Evercore ISI boosted their target price 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. Finally, Loop Capital boosted their target price on shares of Zscaler from $250.00 to $260.00 and gave the stock a "hold" 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 given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus 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.