RWA Wealth Partners LLC Invests $217,000 in Zscaler, Inc. (NASDAQ:ZS)

RWA Wealth Partners LLC bought a new position in Zscaler, Inc. (NASDAQ:ZS) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 981 shares of the company’s stock, valued at approximately $217,000.

Several other hedge funds also recently made changes to their positions in ZS. Polar Capital Holdings Plc acquired a new position in shares of Zscaler in the 3rd quarter worth approximately $61,681,000. International Assets Investment Management LLC grew its stake in Zscaler by 19,012.4% during the 4th quarter. International Assets Investment Management LLC now owns 223,997 shares of the company’s stock worth $49,629,000 after buying an additional 222,825 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in Zscaler by 370.3% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 249,310 shares of the company’s stock worth $55,660,000 after buying an additional 196,296 shares during the last quarter. Federated Hermes Inc. bought a new position in Zscaler during the 4th quarter worth $39,246,000. Finally, Vanguard Group Inc. grew its stake in Zscaler by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock worth $1,343,810,000 after buying an additional 129,090 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insiders Place Their Bets

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the transaction, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at approximately $70,915,408.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Remo Canessa sold 7,707 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $1,488,607.05. Following the transaction, the chief financial officer now owns 255,943 shares of the company’s stock, valued at approximately $49,435,390.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $408,512.25. Following the transaction, the chief executive officer now directly owns 367,152 shares in the company, valued at approximately $70,915,408.80. The disclosure for this sale can be found here. Insiders have sold a total of 26,715 shares of company stock valued at $5,865,882 in the last three months. Insiders own 19.20% of the company’s stock.

Wall Street Analyst Weigh In

ZS has been the subject of a number of recent research reports. Needham & Company LLC restated a “strong-buy” rating and set a $290.00 price objective on shares of Zscaler in a research note on Friday, March 1st. Macquarie restated an “outperform” rating and set a $245.00 price objective on shares of Zscaler in a research note on Tuesday, March 19th. Cantor Fitzgerald reissued a “neutral” rating and issued a $230.00 price target on shares of Zscaler in a research note on Wednesday, April 17th. Oppenheimer increased their price target on Zscaler from $245.00 to $290.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. Finally, Citigroup increased their price target on Zscaler from $235.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Five investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.24.

Zscaler Stock Up 1.3 %

NASDAQ:ZS opened at $177.05 on Friday. The firm has a market capitalization of $26.54 billion, a price-to-earnings ratio of -186.37 and a beta of 0.80. Zscaler, Inc. has a 1-year low of $84.93 and a 1-year high of $259.61. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.19. The business’s fifty day moving average price is $198.51 and its 200 day moving average price is $203.25.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.08. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. The firm had revenue of $525.00 million for the quarter, compared to analyst estimates of $507.56 million. On average, sell-side analysts forecast that Zscaler, Inc. will post -0.8 earnings per share for the current fiscal year.

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.