Strategic Investment Solutions Inc. IL bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS – Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 4,118 shares of the company’s stock, valued at approximately $581,000.
Several other large investors have also modified their holdings of ZS. Oxbow Advisors LLC bought a new position in shares of Zscaler in the 4th quarter worth $2,939,000. Qsemble Capital Management LP boosted its position in Zscaler by 105.5% during the fourth quarter. Qsemble Capital Management LP now owns 15,773 shares of the company’s stock valued at $3,548,000 after purchasing an additional 8,099 shares in the last quarter. Leonteq Securities AG purchased a new position in Zscaler in the fourth quarter valued at about $4,571,000. Norges Bank purchased a new position in Zscaler in the fourth quarter valued at about $79,762,000. Finally, Swedbank AB raised its holdings in Zscaler by 92.8% in the fourth quarter. Swedbank AB now owns 20,706 shares of the company’s stock worth $4,657,000 after purchasing an additional 9,966 shares in the last quarter. Institutional investors own 46.45% of the company’s stock.
Zscaler Stock Performance
NASDAQ ZS opened at $168.68 on Friday. The stock has a 50-day simple moving average of $141.50 and a two-hundred day simple moving average of $152.50. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.86 and a current ratio of 1.86. The firm has a market capitalization of $27.28 billion, a P/E ratio of -351.41, a PEG ratio of 58.52 and a beta of 0.94. Zscaler, Inc. has a fifty-two week low of $114.63 and a fifty-two week high of $336.99.
Insider Activity
In related news, insider Robert Schlossman sold 3,146 shares of Zscaler stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $126.43, for a total value of $397,748.78. Following the completion of the transaction, the insider owned 69,366 shares in the company, valued at $8,769,943.38. The trade was a 4.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jagtar Singh Chaudhry sold 2,878 shares of Zscaler stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $126.43, for a total value of $363,865.54. Following the completion of the transaction, the chief executive officer owned 343,038 shares of the company’s stock, valued at approximately $43,370,294.34. This represents a 0.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 16,269 shares of company stock worth $2,052,589. 17.20% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several research firms have commented on ZS. Citizens Jmp decreased their price target on shares of Zscaler from $290.00 to $210.00 and set a “market outperform” rating for the company in a research report on Friday, May 1st. Wolfe Research reiterated an “outperform” rating and set a $150.00 price objective on shares of Zscaler in a report on Thursday, June 11th. Royal Bank Of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Zscaler in a research report on Wednesday, June 10th. Sanford C. Bernstein dropped their target price on Zscaler from $228.00 to $224.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 27th. Finally, Berenberg Bank set a $200.00 target price on Zscaler in a research report on Thursday, May 28th. Thirty-four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $214.21.
Check Out Our Latest Stock Report on ZS
About Zscaler
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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