Balentine LLC Takes $236,000 Position in Zscaler, Inc. (NASDAQ:ZS)

Balentine LLC acquired a new stake in Zscaler, Inc. (NASDAQ:ZS) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,066 shares of the company’s stock, valued at approximately $236,000.

Several other large investors also recently modified their holdings of ZS. Vanguard Group Inc. grew its position 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 acquiring an additional 129,090 shares during the last quarter. Northern Trust Corp grew its position in Zscaler by 5.6% during the 3rd quarter. Northern Trust Corp now owns 556,446 shares of the company’s stock worth $86,577,000 after acquiring an additional 29,405 shares during the last quarter. Norges Bank bought a new stake in Zscaler during the 4th quarter worth approximately $117,599,000. Polar Capital Holdings Plc bought a new stake in Zscaler during the 3rd quarter worth approximately $61,681,000. Finally, Trivest Advisors Ltd bought a new stake in Zscaler during the 4th quarter worth approximately $72,051,000. 46.45% of the stock is currently owned by institutional investors.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $171.91 on Friday. The stock has a market capitalization of $25.77 billion, a price-to-earnings ratio of -180.96 and a beta of 0.85. The business has a 50-day moving average of $181.71 and a 200-day moving average of $204.81. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.98 and a quick ratio of 1.98. Zscaler, Inc. has a fifty-two week low of $123.21 and a fifty-two week high of $259.61.

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

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 367,152 shares in the company, valued at approximately $70,915,408.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Zscaler news, insider Syam Nair sold 2,893 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $558,782.95. Following the completion of the sale, the insider now directly owns 137,294 shares in the company, valued at $26,518,336.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $408,512.25. Following the sale, the chief executive officer now owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,715 shares of company stock worth $2,455,902. Insiders own 19.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $270.00 price objective on shares of Zscaler in a report on Tuesday, May 14th. Sanford C. Bernstein reduced their price objective on Zscaler from $311.00 to $280.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Macquarie reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Zscaler in a report on Tuesday, March 19th. JPMorgan Chase & Co. increased their price target on Zscaler from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Finally, KeyCorp raised Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 price target on the stock in a research note on Thursday, April 18th. Five analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and an average target price of $231.12.

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.