2,108 Shares in Zscaler, Inc. (NASDAQ:ZS) Purchased by Wedmont Private Capital

Wedmont Private Capital bought a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,108 shares of the company's stock, valued at approximately $418,000.

Several other institutional investors and hedge funds have also modified their holdings of ZS. Summit Securities Group LLC bought a new stake in shares of Zscaler during the 4th quarter worth approximately $27,000. Colonial Trust Co SC acquired a new stake in shares of Zscaler in the 4th quarter valued at $28,000. Stonebridge Financial Group LLC bought a new position in shares of Zscaler in the 4th quarter valued at $29,000. Elequin Capital LP acquired a new position in shares of Zscaler during the 4th quarter worth $30,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Zscaler by 295.0% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 158 shares of the company's stock worth $31,000 after buying an additional 118 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Trading Up 1.0%

ZS stock traded up $3.10 during mid-day trading on Thursday, reaching $302.96. The company's stock had a trading volume of 650,078 shares, compared to its average volume of 2,054,381. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $306.78. The business's 50 day moving average price is $236.33 and its 200 day moving average price is $211.46. The company has a market cap of $47.17 billion, a price-to-earnings ratio of -1,211.84 and a beta of 1.09.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. During the same period in the previous year, the firm posted $0.88 earnings per share. The business's revenue was up 22.6% compared to the same quarter last year. As a group, equities analysts expect that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Robert Schlossman sold 2,878 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the transaction, the insider now owns 107,587 shares in the company, valued at $21,425,951.05. This trade represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ajay Mangal sold 120,000 shares of Zscaler stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $300.89, for a total value of $36,106,800.00. Following the transaction, the insider now directly owns 2,550,210 shares in the company, valued at approximately $767,332,686.90. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 386,722 shares of company stock valued at $93,690,448. 18.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ZS. Royal Bank of Canada boosted their target price on Zscaler from $288.00 to $304.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Bank of America upped their price objective on shares of Zscaler from $285.00 to $340.00 and gave the stock a "buy" rating in a research report on Monday. Roth Capital restated a "neutral" rating on shares of Zscaler in a research report on Wednesday, May 28th. BMO Capital Markets upped their price target on shares of Zscaler from $233.00 to $295.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Finally, Canaccord Genuity Group set a $305.00 price target on Zscaler and gave the company a "buy" rating in a research note on Monday, June 2nd. Nine analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $288.71.

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.