Howe & Rusling Inc. Purchases 1,623 Shares of Zscaler, Inc. (NASDAQ:ZS)

Howe & Rusling Inc. lifted its holdings in Zscaler, Inc. (NASDAQ:ZS) by 8.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,270 shares of the company’s stock after acquiring an additional 1,623 shares during the period. Howe & Rusling Inc.’s holdings in Zscaler were worth $3,636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZS. Quest Partners LLC acquired a new stake in Zscaler in the second quarter worth $28,000. Asset Dedication LLC boosted its position in shares of Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares in the last quarter. American Capital Advisory LLC acquired a new stake in shares of Zscaler in the 2nd quarter valued at about $50,000. GAMMA Investing LLC increased its position in Zscaler by 21.3% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after buying an additional 67 shares in the last quarter. Finally, Quarry LP grew its stake in Zscaler by 613.0% in the second quarter. Quarry LP now owns 385 shares of the company’s stock valued at $74,000 after acquiring an additional 331 shares during the period. 46.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Zscaler

In related news, insider Robert Schlossman sold 4,947 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $170.22, for a total transaction of $842,078.34. Following the transaction, the insider now owns 107,241 shares of the company’s stock, valued at approximately $18,254,563.02. This trade represents a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Rich sold 4,813 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the completion of the sale, the insider now directly owns 103,259 shares of the company’s stock, valued at $17,686,201.52. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $5,256,651 over the last 90 days. Corporate insiders own 19.20% of the company’s stock.

Zscaler Price Performance

NASDAQ ZS opened at $204.36 on Wednesday. The company’s 50 day simple moving average is $184.08 and its two-hundred day simple moving average is $183.03. The stock has a market capitalization of $31.16 billion, a PE ratio of -510.89 and a beta of 0.82. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $259.61.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.09. The firm had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company’s revenue was up 30.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.17) EPS. On average, research analysts anticipate that Zscaler, Inc. will post -0.95 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ZS. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 target price on shares of Zscaler in a report on Wednesday, September 4th. Needham & Company LLC dropped their price objective on shares of Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. reduced their price objective on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, September 4th. BTIG Research lowered their target price on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Finally, Wells Fargo & Company cut their price target on Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. Ten investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $217.18.

About Zscaler

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.