WBI Investments LLC Makes New Investment in Zscaler, Inc. (NASDAQ:ZS)

WBI Investments LLC purchased a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 13,292 shares of the company's stock, valued at approximately $2,945,000.

Several other large investors have also recently added to or reduced their stakes in ZS. Spire Wealth Management grew its position in shares of Zscaler by 24.5% during the fourth quarter. Spire Wealth Management now owns 249 shares of the company's stock worth $58,000 after buying an additional 49 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Zscaler by 1.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,761 shares of the company's stock worth $585,000 after acquiring an additional 63 shares during the period. Lindbrook Capital LLC grew its stake in shares of Zscaler by 41.1% in the fourth quarter. Lindbrook Capital LLC now owns 237 shares of the company's stock worth $53,000 after purchasing an additional 69 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Zscaler by 66.7% during the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company's stock valued at $39,000 after buying an additional 70 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in shares of Zscaler by 1.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,665 shares of the company's stock worth $1,255,000 after buying an additional 70 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zscaler

In other Zscaler news, insider Syam Nair sold 2,893 shares of Zscaler stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $558,782.95. Following the sale, the insider now directly 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 can be accessed through this link. In other news, insider Syam Nair sold 2,893 shares of the stock in a transaction that occurred 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 sale, the insider now owns 137,294 shares of the company's stock, valued at approximately $26,518,336.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Remo Canessa sold 7,707 shares of the business's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $1,488,607.05. Following the transaction, the chief financial officer now owns 255,943 shares in the company, valued at $49,435,390.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,715 shares of company stock worth $2,455,902. Corporate insiders own 19.20% of the company's stock.

Zscaler Trading Down 1.6 %

NASDAQ ZS traded down $2.82 during trading on Wednesday, reaching $174.16. 1,628,843 shares of the stock traded hands, compared to its average volume of 2,110,051. Zscaler, Inc. has a fifty-two week low of $123.21 and a fifty-two week high of $259.61. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19. The firm has a market cap of $26.11 billion, a price-to-earnings ratio of -183.33 and a beta of 0.85. The stock's 50-day moving average price is $182.25 and its 200 day moving average price is $205.04.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.08. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. The company had revenue of $525.00 million during the quarter, compared to the consensus estimate of $507.56 million. Analysts predict that Zscaler, Inc. will post -0.8 EPS for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on Zscaler from $212.00 to $240.00 and gave the company a "neutral" rating in a report on Monday, February 26th. Macquarie reaffirmed an "outperform" rating and set a $245.00 price objective on shares of Zscaler in a research note on Tuesday, March 19th. Barclays decreased their target price on shares of Zscaler from $240.00 to $205.00 and set an "overweight" rating for the company in a report on Monday. KeyCorp upgraded shares of Zscaler from a "sector weight" rating to an "overweight" rating and set a $220.00 price target on the stock in a report on Thursday, April 18th. Finally, Cantor Fitzgerald reiterated a "neutral" rating and set a $230.00 price objective on shares of Zscaler in a research report on Wednesday, April 17th. Five analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $231.26.

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.

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