RPG Investment Advisory LLC Boosts Holdings in Zscaler, Inc. (NASDAQ:ZS)

RPG Investment Advisory LLC grew its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 3,910.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,306 shares of the company’s stock after purchasing an additional 41,251 shares during the period. RPG Investment Advisory LLC’s holdings in Zscaler were worth $8,131,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ZS. Vanguard Group Inc. raised its stake in Zscaler by 1.3% in the first quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock valued at $1,726,307,000 after purchasing an additional 118,002 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in shares of Zscaler during the 4th quarter valued at $217,683,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Zscaler by 19.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 619,293 shares of the company’s stock worth $119,294,000 after acquiring an additional 102,616 shares during the last quarter. Norges Bank purchased a new position in Zscaler in the fourth quarter worth $117,599,000. Finally, Bank of New York Mellon Corp increased its stake in Zscaler by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after acquiring an additional 25,181 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Analyst Ratings Changes

ZS has been the subject of several research analyst reports. Robert W. Baird dropped their price target on Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. dropped their target price on Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. BMO Capital Markets reduced their price target on shares of Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Wells Fargo & Company lowered their price objective on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. Finally, Raymond James assumed coverage on shares of Zscaler in a report on Tuesday, July 23rd. They set a “market perform” rating on the stock. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and a consensus target price of $218.39.

Insider Buying and Selling

In related news, CFO Remo Canessa sold 4,689 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $180.93, for a total transaction of $848,380.77. Following the sale, the chief financial officer now owns 251,467 shares of the company’s stock, valued at $45,497,924.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.20% of the stock is owned by company insiders.

Zscaler Price Performance

Zscaler stock opened at $159.16 on Tuesday. Zscaler, Inc. has a fifty-two week low of $146.59 and a fifty-two week high of $259.61. The stock’s 50 day simple moving average is $186.86 and its two-hundred day simple moving average is $186.57. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.18. The company had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.75% and a negative net margin of 2.66%. The firm’s revenue was up 30.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.17) earnings per share. As a group, equities analysts forecast that Zscaler, Inc. will post -0.92 earnings per share for the current 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.