1,342 Shares in Zscaler, Inc. (NASDAQ:ZS) Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC purchased a new stake in Zscaler, Inc. (NASDAQ:ZS) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,342 shares of the company’s stock, valued at approximately $258,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ZS. Spire Wealth Management raised its holdings in Zscaler by 24.5% in the 4th quarter. Spire Wealth Management now owns 249 shares of the company’s stock valued at $58,000 after acquiring an additional 49 shares in the last quarter. US Bancorp DE lifted its position in Zscaler by 0.3% in the fourth quarter. US Bancorp DE now owns 22,944 shares of the company’s stock worth $5,083,000 after purchasing an additional 59 shares during the period. Kovack Advisors Inc. boosted its stake in Zscaler by 3.4% during the first quarter. Kovack Advisors Inc. now owns 2,042 shares of the company’s stock worth $393,000 after buying an additional 67 shares in the last quarter. GAMMA Investing LLC increased its holdings in Zscaler by 21.3% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after buying an additional 67 shares during the period. Finally, Lindbrook Capital LLC raised its stake in shares of Zscaler by 41.1% in the 4th quarter. Lindbrook Capital LLC now owns 237 shares of the company’s stock valued at $53,000 after buying an additional 69 shares in the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Stock Performance

NASDAQ:ZS traded up $6.36 on Thursday, hitting $190.34. The company’s stock had a trading volume of 1,582,510 shares, compared to its average volume of 2,127,502. Zscaler, Inc. has a one year low of $131.59 and a one year high of $259.61. The firm has a market capitalization of $28.77 billion, a P/E ratio of -373.22 and a beta of 0.85. The stock has a fifty day moving average of $185.51 and a two-hundred day moving average of $193.83. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04.

Zscaler (NASDAQ:ZS) last posted its earnings results on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.39. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The company had revenue of $553.20 million during the quarter, compared to analysts’ expectations of $535.55 million. Research analysts predict that Zscaler, Inc. will post -0.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ZS has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised Zscaler from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $205.00 to $230.00 in a report on Friday, June 14th. Citigroup cut their price objective on Zscaler from $270.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. KeyCorp raised shares of Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 target price on the stock in a report on Thursday, April 18th. Sanford C. Bernstein reduced their price target on shares of Zscaler from $280.00 to $270.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Finally, Canaccord Genuity Group dropped their price objective on shares of Zscaler from $260.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, June 4th. Eight investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $225.21.

Insider Activity at Zscaler

In other news, CFO Remo Canessa sold 7,981 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the transaction, the chief financial officer now directly owns 243,486 shares of the company’s stock, valued at $43,148,154.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.20% of the stock is currently owned by corporate insiders.

Zscaler Company Profile

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.