Zscaler, Inc. (NASDAQ:ZS) Shares Acquired by Merit Financial Group LLC

Merit Financial Group LLC lifted its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 42.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,197 shares of the company's stock after buying an additional 1,832 shares during the quarter. Merit Financial Group LLC's holdings in Zscaler were worth $1,230,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LaFleur & Godfrey LLC raised its holdings in shares of Zscaler by 0.6% in the fourth quarter. LaFleur & Godfrey LLC now owns 61,985 shares of the company's stock worth $11,183,000 after acquiring an additional 399 shares during the last quarter. Yousif Capital Management LLC acquired a new position in Zscaler in the 4th quarter valued at about $214,000. Choreo LLC raised its stake in Zscaler by 2.6% in the 4th quarter. Choreo LLC now owns 2,833 shares of the company's stock valued at $517,000 after purchasing an additional 73 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Zscaler by 3.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 224,648 shares of the company's stock valued at $40,529,000 after purchasing an additional 6,532 shares during the last quarter. Finally, Global X Japan Co. Ltd. raised its position in shares of Zscaler by 127.4% in the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock valued at $25,000 after buying an additional 79 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.

Insider Buying and Selling at Zscaler

In other news, insider Robert Schlossman sold 4,618 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $300.00, for a total transaction of $1,385,400.00. Following the completion of the transaction, the insider now directly owns 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andrew William Fraser Brown sold 20,333 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $296.72, for a total transaction of $6,033,207.76. Following the completion of the sale, the director now directly owns 27,216 shares of the company's stock, valued at $8,075,531.52. The trade was a 42.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 266,722 shares of company stock valued at $57,583,648 in the last ninety days. Company insiders own 18.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ZS shares. Rosenblatt Securities boosted their price target on Zscaler from $235.00 to $315.00 and gave the company a "buy" 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. Truist Financial reiterated a "buy" rating and issued a $300.00 price target (up from $260.00) on shares of Zscaler in a report on Friday, May 30th. BNP Paribas raised shares of Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 price objective for the company in a research report on Monday, April 28th. Finally, Susquehanna increased their price objective on shares of Zscaler from $245.00 to $320.00 and gave the company a "positive" rating in a research report on Friday, May 30th. Nine research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $283.85.

Zscaler Price Performance

NASDAQ:ZS opened at $303.03 on Friday. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $306.78. The firm has a market capitalization of $47.18 billion, a P/E ratio of -1,212.12 and a beta of 1.09. The business has a 50 day simple moving average of $229.85 and a 200 day simple moving average of $209.60.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly 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. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The company had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company's revenue for the quarter was up 22.6% compared to the same quarter last year. Research analysts anticipate that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

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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