EFG Asset Management Americas Corp. Purchases 4,602 Shares of Zscaler, Inc. (NASDAQ:ZS)

EFG Asset Management Americas Corp. boosted its position in Zscaler, Inc. (NASDAQ:ZS) by 68.5% in the 2nd quarter, Holdings Channel reports. The firm owned 11,322 shares of the company’s stock after buying an additional 4,602 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Zscaler were worth $2,176,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Savant Capital LLC bought a new stake in shares of Zscaler during the second quarter valued at approximately $633,000. North Star Asset Management Inc. increased its holdings in Zscaler by 10.9% during the second quarter. North Star Asset Management Inc. now owns 35,067 shares of the company’s stock valued at $6,740,000 after buying an additional 3,459 shares during the period. Private Advisor Group LLC increased its holdings in Zscaler by 878.9% during the second quarter. Private Advisor Group LLC now owns 20,655 shares of the company’s stock valued at $3,970,000 after buying an additional 18,545 shares during the period. Arizona State Retirement System increased its holdings in Zscaler by 0.9% during the second quarter. Arizona State Retirement System now owns 24,699 shares of the company’s stock valued at $4,747,000 after buying an additional 220 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Zscaler by 9.2% during the second quarter. Victory Capital Management Inc. now owns 130,139 shares of the company’s stock valued at $25,011,000 after buying an additional 11,012 shares during the period. Institutional investors own 46.45% of the company’s stock.

Insider Activity at Zscaler

In related news, CFO Remo Canessa sold 4,689 shares of the company’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 completion of the sale, the chief financial officer now owns 251,467 shares of the company’s stock, valued at approximately $45,497,924.31. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 19.20% of the stock is owned by corporate insiders.

Zscaler Price Performance

Shares of Zscaler stock traded down $5.47 during trading hours on Friday, reaching $156.78. The stock had a trading volume of 3,611,304 shares, compared to its average volume of 2,158,734. The stock’s 50 day moving average is $187.65 and its 200 day moving average is $187.65. The firm has a market capitalization of $23.70 billion, a PE ratio of -307.41 and a beta of 0.82. Zscaler, Inc. has a twelve month low of $146.59 and a twelve month high of $259.61. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.75%. The business had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. The company’s revenue was up 30.3% compared to the same quarter last year. Equities analysts expect that Zscaler, Inc. will post -0.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

ZS has been the topic of several research reports. JPMorgan Chase & Co. cut their price objective on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday. Citigroup cut their price objective 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. Raymond James started coverage on shares of Zscaler in a report on Tuesday, July 23rd. They set a “market perform” rating on the stock. Loop Capital cut their price target on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, Barclays cut their price target on shares of Zscaler from $230.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.39.

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.