Zscaler, Inc. (NASDAQ:ZS) Shares Bought by SkyOak Wealth LLC

SkyOak Wealth LLC lifted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 16.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,900 shares of the company’s stock after purchasing an additional 400 shares during the period. SkyOak Wealth LLC’s holdings in Zscaler were worth $557,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp purchased a new position in Zscaler in the 4th quarter valued at about $29,000. Quest Partners LLC acquired a new position in shares of Zscaler in the 2nd quarter valued at approximately $28,000. Quadrant Capital Group LLC boosted its stake in shares of Zscaler by 66.7% during the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after buying an additional 70 shares during the last quarter. Asset Dedication LLC grew its position in shares of Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after buying an additional 166 shares in the last quarter. Finally, American Capital Advisory LLC bought a new position in Zscaler during the 2nd quarter valued at $50,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $170.32 on Wednesday. The stock has a market capitalization of $25.97 billion, a price-to-earnings ratio of -333.96 and a beta of 0.82. Zscaler, Inc. has a 1-year low of $146.59 and a 1-year high of $259.61. The company has a 50 day moving average price of $183.45 and a 200 day moving average price of $183.94.

Zscaler (NASDAQ:ZS) last issued its earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. During the same period in the previous year, the firm posted ($0.17) EPS. The company’s quarterly revenue was up 30.3% on a year-over-year basis. On average, sell-side analysts expect that Zscaler, Inc. will post -0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZS. Raymond James began coverage on shares of Zscaler in a research note on Tuesday, July 23rd. They issued a “market perform” rating on the stock. Sanford C. Bernstein cut their price objective on Zscaler from $280.00 to $270.00 and set an “outperform” rating on the stock in a research note on Friday, May 31st. Rosenblatt Securities reiterated a “neutral” rating and issued a $190.00 target price on shares of Zscaler in a research report on Wednesday, September 4th. Morgan Stanley upped their price target on Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. Finally, Cantor Fitzgerald reduced their price objective on Zscaler from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $218.39.

Insider Buying and Selling at Zscaler

In other news, CFO Remo Canessa sold 7,981 shares of the stock in a transaction on 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 owns 243,486 shares in the company, valued at $43,148,154.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 19.20% of the company’s stock.

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.