Raymond James & Associates Grows Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Raymond James & Associates grew its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 51.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,172 shares of the company's stock after buying an additional 9,912 shares during the period. Raymond James & Associates' holdings in Zscaler were worth $6,463,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Holocene Advisors LP bought a new stake in Zscaler in the second quarter worth $127,215,000. Renaissance Technologies LLC bought a new position in Zscaler in the 1st quarter worth about $168,365,000. Norges Bank purchased a new stake in Zscaler during the 4th quarter valued at about $59,634,000. Polar Capital Holdings Plc bought a new stake in Zscaler during the 3rd quarter valued at about $61,681,000. Finally, Whale Rock Capital Management LLC raised its holdings in Zscaler by 71.4% in the second quarter. Whale Rock Capital Management LLC now owns 776,972 shares of the company's stock worth $113,671,000 after buying an additional 323,719 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ZS has been the subject of a number of recent analyst reports. Barclays decreased their price objective on shares of Zscaler from $259.00 to $240.00 and set an "overweight" rating for the company in a report on Friday, March 1st. Susquehanna started coverage on Zscaler in a report on Friday, December 15th. They set a "positive" rating and a $275.00 price target on the stock. Citigroup boosted their target price on Zscaler from $235.00 to $265.00 and gave the stock a "buy" rating in a research report on Wednesday, January 10th. Morgan Stanley increased their price objective on shares of Zscaler from $195.00 to $214.00 and gave the company an "equal weight" rating in a research report on Monday, February 26th. Finally, Oppenheimer lifted 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 Wednesday, January 3rd. Six equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $230.55.

Zscaler Stock Up 2.6 %

Shares of ZS stock traded up $4.79 on Tuesday, hitting $188.50. The stock had a trading volume of 1,782,608 shares, compared to its average volume of 2,347,574. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19. Zscaler, Inc. has a one year low of $84.93 and a one year high of $259.61. The business has a 50 day moving average price of $216.46 and a 200 day moving average price of $201.98. The company has a market cap of $28.25 billion, a PE ratio of -198.42 and a beta of 0.81.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, topping analysts' consensus estimates of ($0.24) by $0.08. The company had revenue of $525.00 million during the quarter, compared to the consensus estimate of $507.56 million. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. Research analysts anticipate that Zscaler, Inc. will post -0.81 earnings per share for the current fiscal year.

Insider Transactions at Zscaler

In related news, Director Karen Blasing sold 7,000 shares of the company's stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $224.47, for a total transaction of $1,571,290.00. Following the transaction, the director now directly owns 35,706 shares of the company's stock, valued at approximately $8,014,925.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Syam Nair sold 2,893 shares of the firm's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $558,782.95. Following the completion of the transaction, the insider now owns 137,294 shares in the company, valued at approximately $26,518,336.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Karen Blasing sold 7,000 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $224.47, for a total value of $1,571,290.00. Following the completion of the transaction, the director now directly owns 35,706 shares in the company, valued at $8,014,925.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,715 shares of company stock valued at $7,437,172. Corporate insiders own 19.20% of the company's stock.

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.