Zscaler, Inc. (NASDAQ:ZS) Shares Bought by Red Spruce Capital LLC

Red Spruce Capital LLC lifted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 5.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 23,813 shares of the company’s stock after buying an additional 1,187 shares during the period. Zscaler accounts for approximately 1.9% of Red Spruce Capital LLC’s portfolio, making the stock its 14th largest holding. Red Spruce Capital LLC’s holdings in Zscaler were worth $3,484,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZS. Vanguard Group Inc. increased its position in Zscaler by 0.9% during the first quarter. Vanguard Group Inc. now owns 7,611,843 shares of the company’s stock worth $1,836,586,000 after purchasing an additional 68,301 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Zscaler by 156.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,774,237 shares of the company’s stock worth $534,237,000 after acquiring an additional 2,909,057 shares in the last quarter. WestBridge Capital Management LLC purchased a new position in shares of Zscaler in the 1st quarter valued at $233,242,000. First Trust Advisors LP lifted its holdings in shares of Zscaler by 4.7% during the 1st quarter. First Trust Advisors LP now owns 1,862,369 shares of the company’s stock valued at $217,581,000 after acquiring an additional 84,440 shares in the last quarter. Finally, Champlain Investment Partners LLC boosted its position in Zscaler by 14.0% during the 1st quarter. Champlain Investment Partners LLC now owns 1,544,570 shares of the company’s stock worth $180,452,000 after purchasing an additional 190,125 shares during the period. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Trading Down 0.3 %

Zscaler stock traded down $0.49 during midday trading on Thursday, reaching $157.91. The stock had a trading volume of 216,550 shares, compared to its average volume of 2,686,152. The firm’s fifty day simple moving average is $149.58 and its two-hundred day simple moving average is $131.08. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.96 and a quick ratio of 1.96. Zscaler, Inc. has a twelve month low of $84.93 and a twelve month high of $185.99. The firm has a market cap of $23.04 billion, a price-to-earnings ratio of -112.34 and a beta of 0.85.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, September 5th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.15. Zscaler had a negative return on equity of 34.75% and a negative net margin of 12.51%. The firm had revenue of $455.00 million for the quarter, compared to analyst estimates of $430.38 million. During the same period in the previous year, the firm earned ($0.40) earnings per share. Zscaler’s quarterly revenue was up 43.0% on a year-over-year basis. Equities analysts anticipate that Zscaler, Inc. will post -1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Loop Capital upped their price objective on shares of Zscaler from $135.00 to $165.00 and gave the company a “hold” rating in a research report on Wednesday, September 6th. Evercore ISI upped their target price on shares of Zscaler from $170.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, September 6th. Macquarie upped their price objective on Zscaler from $135.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, September 6th. Canaccord Genuity Group lifted their target price on Zscaler from $172.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, September 6th. Finally, Morgan Stanley upped their price target on Zscaler from $120.00 to $145.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 6th. Fourteen research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.03.

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 5,440 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of $156.64, for a total transaction of $852,121.60. Following the completion of the sale, the chief executive officer now directly owns 374,935 shares in the company, valued at $58,729,818.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Dali Rajic sold 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $157.41, for a total value of $3,463,020.00. Following the transaction, the chief operating officer now directly owns 284,406 shares of the company’s stock, valued at approximately $44,768,348.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 5,440 shares of the stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $156.64, for a total value of $852,121.60. Following the transaction, the chief executive officer now owns 374,935 shares in the company, valued at approximately $58,729,818.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 128,483 shares of company stock valued at $19,372,333. Corporate insiders own 19.80% of the company’s stock.

Zscaler Profile

Zscaler, Inc operates as a cloud security company worldwide. It 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.