Sanders Morris Harris LLC Buys New Position in Zscaler, Inc. (NASDAQ:ZS)

Sanders Morris Harris LLC acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 346 shares of the company’s stock, valued at approximately $67,000.

Several other hedge funds have also modified their holdings of the stock. Jones Financial Companies Lllp purchased a new stake in Zscaler during the 4th quarter worth $29,000. GAMMA Investing LLC purchased a new stake in shares of Zscaler during the fourth quarter worth about $37,000. Parkside Financial Bank & Trust lifted its stake in shares of Zscaler by 582.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 157 shares of the company’s stock worth $35,000 after acquiring an additional 134 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in Zscaler by 66.7% in the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after purchasing an additional 70 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in Zscaler by 109.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 209 shares of the company’s stock valued at $46,000 after purchasing an additional 109 shares in the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on ZS. Barclays increased their target price on Zscaler from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. Loop Capital dropped their target price on shares of Zscaler from $225.00 to $180.00 and set a “hold” rating for the company in a research report on Friday, May 31st. Royal Bank of Canada upped their target price on shares of Zscaler from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Morgan Stanley decreased their price target on Zscaler from $214.00 to $202.00 and set an “equal weight” rating for the company in a research note on Friday, May 24th. Finally, BTIG Research cut their price objective on Zscaler from $258.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Six investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $225.21.

Zscaler Price Performance

Shares of NASDAQ ZS traded up $0.97 during mid-day trading on Friday, reaching $179.55. 3,430,294 shares of the company traded hands, compared to its average volume of 2,798,060. Zscaler, Inc. has a fifty-two week low of $131.59 and a fifty-two week high of $259.61. The firm has a market cap of $27.14 billion, a PE ratio of -352.06 and a beta of 0.85. The stock has a fifty day simple moving average of $175.69 and a 200-day simple moving average of $203.34. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.75 and a quick ratio of 1.75.

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.