Commonwealth Equity Services LLC Has $7.57 Million Stake in Zscaler, Inc. (NASDAQ:ZS)

Commonwealth Equity Services LLC grew its holdings in shares of Zscaler, Inc. (NASDAQ:ZSGet Rating) by 7.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,393 shares of the company’s stock after acquiring an additional 2,226 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Zscaler were worth $7,574,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its holdings in shares of Zscaler by 7.5% during the first quarter. Envestnet Asset Management Inc. now owns 7,239 shares of the company’s stock worth $1,747,000 after purchasing an additional 506 shares during the last quarter. Versor Investments LP bought a new stake in shares of Zscaler during the first quarter worth about $257,000. abrdn plc grew its holdings in shares of Zscaler by 5.3% during the first quarter. abrdn plc now owns 6,940 shares of the company’s stock worth $1,702,000 after purchasing an additional 348 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Zscaler by 4.5% during the first quarter. Arizona State Retirement System now owns 23,391 shares of the company’s stock worth $5,644,000 after purchasing an additional 1,012 shares during the last quarter. Finally, Sandy Spring Bank grew its holdings in shares of Zscaler by 183.5% during the first quarter. Sandy Spring Bank now owns 927 shares of the company’s stock worth $223,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 43.41% of the company’s stock.

Zscaler Trading Down 1.0 %

NASDAQ ZS opened at $153.50 on Tuesday. The firm has a market capitalization of $21.78 billion, a P/E ratio of -57.49 and a beta of 1.04. The business has a fifty day simple moving average of $153.82 and a 200 day simple moving average of $198.60. Zscaler, Inc. has a 12 month low of $125.12 and a 12 month high of $376.11. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 1.80.

Zscaler (NASDAQ:ZSGet Rating) last released its quarterly earnings results on Thursday, May 26th. The company reported ($0.61) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.02. The business had revenue of $286.81 million during the quarter, compared to analyst estimates of $271.47 million. Zscaler had a negative return on equity of 58.37% and a negative net margin of 38.52%. Zscaler’s quarterly revenue was up 62.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.30) EPS. On average, analysts predict that Zscaler, Inc. will post -2.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Cowen reduced their target price on Zscaler from $405.00 to $194.00 and set an “outperform” rating on the stock in a report on Friday, May 27th. Wedbush reduced their target price on Zscaler to $200.00 in a report on Friday, May 27th. Morgan Stanley reduced their target price on Zscaler from $325.00 to $225.00 and set an “overweight” rating on the stock in a report on Thursday, May 19th. Barclays upped their target price on Zscaler from $147.00 to $168.00 and gave the company an “equal weight” rating in a report on Friday, May 27th. Finally, Wells Fargo & Company reduced their target price on Zscaler from $350.00 to $200.00 and set a “na” rating on the stock in a report on Monday, May 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $246.65.

Insider Buying and Selling at Zscaler

In other Zscaler news, CFO Remo Canessa sold 5,010 shares of the company’s stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $136.67, for a total value of $684,716.70. Following the completion of the transaction, the chief financial officer now owns 262,388 shares in the company, valued at approximately $35,860,567.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Zscaler news, insider Robert Schlossman sold 239 shares of the company’s stock in a transaction on Tuesday, June 21st. The stock was sold at an average price of $150.00, for a total value of $35,850.00. Following the completion of the transaction, the insider now owns 112,622 shares in the company, valued at approximately $16,893,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Remo Canessa sold 5,010 shares of the company’s stock in a transaction on Thursday, June 16th. The shares were sold at an average price of $136.67, for a total value of $684,716.70. Following the completion of the transaction, the chief financial officer now owns 262,388 shares of the company’s stock, valued at approximately $35,860,567.96. The disclosure for this sale can be found here. Insiders sold 49,710 shares of company stock worth $7,275,302 in the last quarter. 20.30% of the stock is currently owned by company insiders.

About Zscaler

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Zscaler, Inc operates as a cloud security company worldwide. The company provides Zscaler Internet Access solution that provides users, servers, operational technology, Internet of Things device 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.

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Institutional Ownership by Quarter for Zscaler (NASDAQ:ZS)

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