WESPAC Advisors LLC Invests $279,000 in Zscaler, Inc. (NASDAQ:ZS)

WESPAC Advisors LLC acquired a new position in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,404 shares of the company's stock, valued at approximately $279,000.

Other large investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Zscaler by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock worth $298,710,000 after buying an additional 32,545 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in Zscaler by 25.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock valued at $291,935,000 after acquiring an additional 332,307 shares during the last quarter. AQR Capital Management LLC raised its position in Zscaler by 120.1% during the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock valued at $173,921,000 after purchasing an additional 525,956 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in Zscaler by 30.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock worth $156,739,000 after purchasing an additional 204,996 shares during the last quarter. Finally, DnB Asset Management AS boosted its holdings in shares of Zscaler by 66.8% in the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock worth $120,403,000 after purchasing an additional 267,162 shares in the last quarter. Institutional investors own 46.45% of the company's stock.

Zscaler Trading Down 6.4%

Shares of ZS opened at $296.18 on Friday. The firm has a fifty day simple moving average of $281.04 and a two-hundred day simple moving average of $227.00. The firm has a market cap of $46.12 billion, a PE ratio of -1,139.15 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 released its quarterly earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The business's revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 EPS. As a group, research analysts forecast that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Insider Transactions at Zscaler

In other Zscaler news, insider Robert Schlossman sold 4,618 shares of Zscaler stock in a transaction that occurred on 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 of the company's stock, valued at $28,683,600. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam Geller sold 3,662 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $306.72, for a total transaction of $1,123,208.64. Following the sale, the insider owned 46,813 shares in the company, valued at $14,358,483.36. The trade was a 7.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,793 shares of company stock valued at $58,752,794. Company insiders own 18.10% of the company's stock.

Wall Street Analysts Forecast Growth

ZS has been the topic of a number of analyst reports. Royal Bank Of Canada lifted their target price on shares of Zscaler from $288.00 to $304.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Scotiabank boosted their target price on Zscaler from $310.00 to $360.00 and gave the company a "sector outperform" rating in a research note on Friday, June 6th. Rosenblatt Securities increased their target price on Zscaler from $235.00 to $315.00 and gave the company a "buy" rating in a report on Friday, May 30th. Canaccord Genuity Group set a $305.00 price target on Zscaler and gave the stock a "buy" rating in a research note on Monday, June 2nd. Finally, BMO Capital Markets boosted their price objective on Zscaler from $233.00 to $295.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price 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.

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