Wealth Enhancement Advisory Services LLC increased its stake in Zscaler, Inc. (NASDAQ:ZS – Free Report) by 45.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,997 shares of the company’s stock after purchasing an additional 13,482 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Zscaler were worth $12,587,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Tradewinds Capital Management LLC raised its stake in shares of Zscaler by 145.7% in the third quarter. Tradewinds Capital Management LLC now owns 86 shares of the company’s stock valued at $26,000 after buying an additional 51 shares during the period. McIlrath & Eck LLC purchased a new stake in Zscaler in the 3rd quarter worth about $29,000. Quaker Wealth Management LLC raised its stake in Zscaler by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 97 shares of the company’s stock valued at $30,000 after acquiring an additional 194 shares during the period. Exane Asset Management lifted its holdings in Zscaler by 185.7% during the second quarter. Exane Asset Management now owns 100 shares of the company’s stock valued at $31,000 after purchasing an additional 65 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. boosted its position in Zscaler by 81.9% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 131 shares of the company’s stock worth $39,000 after purchasing an additional 59 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.
Zscaler Price Performance
NASDAQ:ZS opened at $208.31 on Friday. Zscaler, Inc. has a 52-week low of $164.78 and a 52-week high of $336.99. The stock has a fifty day moving average of $238.67 and a 200 day moving average of $275.04. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.82 and a current ratio of 1.82. The firm has a market capitalization of $33.22 billion, a price-to-earnings ratio of -801.16, a P/E/G ratio of 3,429.46 and a beta of 1.02.
Insider Buying and Selling at Zscaler
In other news, EVP Raj Judge sold 3,438 shares of Zscaler stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $230.82, for a total transaction of $793,559.16. Following the completion of the sale, the executive vice president directly owned 70,394 shares of the company’s stock, valued at approximately $16,248,343.08. The trade was a 4.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James A. Beer sold 653 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $226.72, for a total transaction of $148,048.16. Following the completion of the transaction, the director owned 3,485 shares of the company’s stock, valued at $790,119.20. This trade represents a 15.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,350 shares of company stock valued at $4,471,509 over the last quarter. Company insiders own 17.20% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on ZS shares. Citizens Jmp reissued a “market outperform” rating and issued a $355.00 price target on shares of Zscaler in a research report on Wednesday, November 26th. Piper Sandler reduced their price objective on shares of Zscaler from $280.00 to $260.00 and set a “neutral” rating for the company in a research note on Monday, January 5th. Stifel Nicolaus dropped their target price on Zscaler from $330.00 to $320.00 and set a “buy” rating on the stock in a research report on Wednesday, November 26th. Macquarie started coverage on Zscaler in a report on Friday, October 31st. They issued an “outperform” rating and a $390.00 price target for the company. Finally, Morgan Stanley set a $305.00 price objective on Zscaler in a research note on Thursday, December 18th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $317.63.
View Our Latest Analysis on Zscaler
Zscaler Company Profile
Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.
Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.
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