Aviance Capital Partners LLC Invests $1.35 Million in Zscaler, Inc. (NASDAQ:ZS)

Aviance Capital Partners LLC acquired a new stake in Zscaler, Inc. (NASDAQ:ZS) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,000 shares of the company’s stock, valued at approximately $1,348,000.

Several other large investors also recently modified their holdings of the company. Jones Financial Companies Lllp bought a new position in shares of Zscaler during the 4th quarter worth approximately $29,000. GAMMA Investing LLC bought a new position in Zscaler during the fourth quarter worth $37,000. Parkside Financial Bank & Trust grew its holdings in Zscaler by 582.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 157 shares of the company’s stock worth $35,000 after purchasing an additional 134 shares during the period. Quadrant Capital Group LLC increased its stake in Zscaler by 66.7% in the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after purchasing an additional 70 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Zscaler by 109.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 209 shares of the company’s stock valued at $46,000 after purchasing an additional 109 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on ZS. Susquehanna decreased their target price on Zscaler from $275.00 to $210.00 and set a “positive” rating for the company in a research report on Friday, May 31st. Canaccord Genuity Group cut their target price on Zscaler from $260.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. Macquarie restated an “outperform” rating and set a $245.00 price target on shares of Zscaler in a research note on Tuesday, March 19th. KeyCorp raised shares of Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 price objective on the stock in a research note on Thursday, April 18th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $200.00 target price on shares of Zscaler in a research report on Friday, June 21st. Six investment 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $225.21.

Zscaler Trading Up 3.3 %

ZS opened at $198.62 on Tuesday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average price of $177.44 and a 200-day moving average price of $202.50. Zscaler, Inc. has a twelve month low of $131.59 and a twelve month high of $259.61.

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 the consensus estimate of ($0.24) by $0.39. The firm had revenue of $553.20 million for the quarter, compared to the consensus estimate of $535.55 million. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. As a group, analysts predict that Zscaler, Inc. will post -0.34 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Remo Canessa sold 7,981 shares of the company’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 sale, the chief financial officer now owns 243,486 shares of the company’s stock, valued at approximately $43,148,154.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.20% of the stock is owned by corporate insiders.

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.