Motley Fool Asset Management LLC Increases Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Motley Fool Asset Management LLC raised its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 11.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,422 shares of the company’s stock after acquiring an additional 444 shares during the period. Motley Fool Asset Management LLC’s holdings in Zscaler were worth $852,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. B. Riley Wealth Advisors Inc. grew its position in Zscaler by 3.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 3,761 shares of the company’s stock valued at $724,000 after acquiring an additional 111 shares during the last quarter. Grandeur Peak Global Advisors LLC grew its position in Zscaler by 14.9% during the first quarter. Grandeur Peak Global Advisors LLC now owns 23,839 shares of the company’s stock valued at $4,592,000 after acquiring an additional 3,086 shares during the last quarter. Janus Henderson Group PLC grew its position in Zscaler by 11.8% during the first quarter. Janus Henderson Group PLC now owns 9,121 shares of the company’s stock valued at $1,757,000 after acquiring an additional 963 shares during the last quarter. Caxton Associates LP bought a new position in Zscaler during the first quarter valued at approximately $2,697,000. Finally, Quadrature Capital Ltd bought a new position in Zscaler during the first quarter valued at approximately $47,217,000. 46.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Remo Canessa sold 7,981 shares of Zscaler stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.21, for a total value of $1,414,313.01. Following the completion of the sale, the chief financial officer now directly owns 243,486 shares in the company, valued at approximately $43,148,154.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 19.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ZS has been the topic of several recent analyst reports. Loop Capital cut their target price on shares of Zscaler from $225.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, May 31st. Citigroup cut their target price on shares of Zscaler from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Susquehanna cut their target price on shares of Zscaler from $275.00 to $210.00 and set a “positive” rating on the stock in a report on Friday, May 31st. Barclays raised their target price on shares of Zscaler from $205.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, May 31st. Finally, 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. Eight research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.21.

Zscaler Stock Up 1.5 %

Shares of ZS traded up $2.60 during trading hours on Wednesday, hitting $179.35. The company had a trading volume of 1,137,153 shares, compared to its average volume of 2,179,230. The firm has a fifty day moving average price of $184.50 and a 200-day moving average price of $198.23. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a market capitalization of $27.11 billion, a price-to-earnings ratio of -351.67 and a beta of 0.85. Zscaler, Inc. has a 52-week low of $131.59 and a 52-week high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.39. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. The firm had revenue of $553.20 million during the quarter, compared to analyst estimates of $535.55 million. On average, equities research analysts forecast that Zscaler, Inc. will post -0.34 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.