Winslow Evans & Crocker Inc. acquired a new position in shares of Zscaler Inc (NASDAQ:ZS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,150 shares of the company’s stock, valued at approximately $90,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of ZS. Tortoise Index Solutions LLC acquired a new stake in Zscaler in the first quarter worth $25,000. FTB Advisors Inc. acquired a new stake in Zscaler in the first quarter worth $26,000. Nisa Investment Advisors LLC acquired a new stake in Zscaler in the first quarter worth $28,000. Wealthcare Advisory Partners LLC grew its holdings in Zscaler by 211.1% in the first quarter. Wealthcare Advisory Partners LLC now owns 700 shares of the company’s stock worth $50,000 after purchasing an additional 475 shares during the period. Finally, Valeo Financial Advisors LLC acquired a new stake in Zscaler in the second quarter worth $54,000. Institutional investors own 33.97% of the company’s stock.
A number of research firms have commented on ZS. UBS Group raised their price target on shares of Zscaler from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, May 31st. Credit Suisse Group restated an “outperform” rating and issued a $75.00 price target (up from $55.00) on shares of Zscaler in a report on Tuesday, April 9th. BMO Capital Markets assumed coverage on shares of Zscaler in a report on Thursday. They issued a “market perform” rating and a $100.00 price target for the company. Morgan Stanley raised their price objective on shares of Zscaler from $43.00 to $52.00 and gave the company an “underweight” rating in a research note on Friday, May 31st. Finally, Piper Jaffray Companies raised their price objective on shares of Zscaler from $65.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $74.25.
Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Thursday, May 30th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Zscaler had a negative net margin of 11.12% and a negative return on equity of 10.95%. The firm had revenue of $79.10 million for the quarter, compared to the consensus estimate of $74.92 million. During the same period in the previous year, the business earned ($0.02) earnings per share. The firm’s revenue for the quarter was up 60.8% on a year-over-year basis. On average, equities research analysts predict that Zscaler Inc will post -0.17 earnings per share for the current fiscal year.
In other Zscaler news, insider Manoj Apte sold 95,544 shares of Zscaler stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $84.91, for a total value of $8,112,641.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Remo Canessa sold 110,000 shares of Zscaler stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $78.19, for a total transaction of $8,600,900.00. The disclosure for this sale can be found here. Insiders have sold 395,866 shares of company stock worth $31,497,579 over the last three months. 27.40% of the stock is owned by insiders.
Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.
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