Belpointe Asset Management LLC Makes New Investment in Zscaler, Inc. (NASDAQ:ZS)

Belpointe Asset Management LLC bought a new position in Zscaler, Inc. (NASDAQ:ZS – Get Rating) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 538 shares of the company’s stock, valued at approximately $60,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ZS. International Assets Investment Management LLC boosted its stake in Zscaler by 2.7% in the first quarter. International Assets Investment Management LLC now owns 2,558 shares of the company’s stock valued at $617,000 after acquiring an additional 67 shares in the last quarter. Van ECK Associates Corp increased its stake in Zscaler by 9.2% during the 4th quarter. Van ECK Associates Corp now owns 1,006 shares of the company’s stock valued at $113,000 after purchasing an additional 85 shares in the last quarter. Huntington National Bank raised its holdings in shares of Zscaler by 29.8% in the third quarter. Huntington National Bank now owns 388 shares of the company’s stock worth $63,000 after buying an additional 89 shares during the last quarter. Sepio Capital LP lifted its holdings in shares of Zscaler by 1.5% during the fourth quarter. Sepio Capital LP now owns 6,585 shares of the company’s stock worth $737,000 after purchasing an additional 97 shares during the period. Finally, Utah Retirement Systems boosted its position in Zscaler by 0.7% in the third quarter. Utah Retirement Systems now owns 14,942 shares of the company’s stock valued at $2,456,000 after buying an additional 100 shares during the last quarter. Institutional investors own 45.33% of the company’s stock.

Zscaler Price Performance

Shares of Zscaler stock opened at $128.86 on Tuesday. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 2.16. Zscaler, Inc. has a 52 week low of $84.93 and a 52 week high of $194.21. The firm’s 50 day moving average is $106.59 and its two-hundred day moving average is $117.52.

Zscaler (NASDAQ:ZS – Get Rating) last announced its quarterly earnings results on Thursday, March 2nd. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.08. Zscaler had a negative net margin of 24.08% and a negative return on equity of 50.58%. The firm had revenue of $387.60 million for the quarter, compared to analyst estimates of $363.80 million. On average, analysts predict that Zscaler, Inc. will post -1.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ZS has been the subject of a number of recent research reports. Credit Suisse Group reduced their price target on shares of Zscaler from $275.00 to $165.00 and set an “outperform” rating for the company in a research report on Wednesday, March 15th. Cantor Fitzgerald lowered their price target on shares of Zscaler from $160.00 to $140.00 in a report on Friday, March 3rd. BMO Capital Markets lifted their price objective on Zscaler from $115.00 to $120.00 in a research note on Tuesday, May 9th. JPMorgan Chase & Co. initiated coverage on Zscaler in a research note on Tuesday, January 24th. They issued a “neutral” rating and a $124.00 target price on the stock. Finally, The Goldman Sachs Group started coverage on Zscaler in a research report on Tuesday, February 14th. They set a “neutral” rating and a $148.00 price target for the company. Fourteen investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $167.68.

Insider Activity at Zscaler

In other news, insider Robert Schlossman sold 3,645 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $106.79, for a total value of $389,249.55. Following the completion of the sale, the insider now directly owns 132,553 shares of the company’s stock, valued at $14,155,334.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Zscaler news, insider Robert Schlossman sold 3,645 shares of the company’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $106.79, for a total transaction of $389,249.55. Following the completion of the transaction, the insider now owns 132,553 shares in the company, valued at approximately $14,155,334.87. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Dali Rajic sold 5,638 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $106.79, for a total transaction of $602,082.02. Following the completion of the sale, the chief operating officer now owns 291,182 shares of the company’s stock, valued at approximately $31,095,325.78. The disclosure for this sale can be found here. Insiders sold a total of 16,412 shares of company stock worth $1,752,637 in the last 90 days. 19.80% of the stock is owned by insiders.

About Zscaler

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Zscaler, Inc engages in the provision of a cloud-based internet security platform. It offers Zero Trust Exchange, Zscaler Client Connector, Zscaler Internet Access, Zscaler Private Access, Zscaler B2B, Zscaler Cloud Protection, and Zscaler Digital Experience. The company was founded by Jagtar Singh Chaudhry and K.