Zscaler, Inc. (NASDAQ:ZS) Position Boosted by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. raised its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 109.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,455 shares of the company’s stock after acquiring an additional 1,803 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Zscaler were worth $666,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. 1832 Asset Management L.P. bought a new position in Zscaler in the 4th quarter valued at $217,683,000. Norges Bank bought a new position in Zscaler in the fourth quarter valued at approximately $117,599,000. Polar Capital Holdings Plc acquired a new stake in Zscaler in the third quarter valued at $61,681,000. Trivest Advisors Ltd bought a new position in Zscaler during the fourth quarter worth about $72,051,000. Finally, International Assets Investment Management LLC increased its holdings in shares of Zscaler by 19,012.4% during the 4th quarter. International Assets Investment Management LLC now owns 223,997 shares of the company’s stock worth $49,629,000 after acquiring an additional 222,825 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Activity

In other news, CFO Remo Canessa sold 7,981 shares of Zscaler 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 completion of the transaction, the chief financial officer now directly owns 243,486 shares in the company, valued at $43,148,154.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 19.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ZS shares. Wells Fargo & Company restated an “equal weight” rating and issued a $182.00 target price (down from $275.00) on shares of Zscaler in a research report on Tuesday, May 28th. Oppenheimer reiterated an “outperform” rating and set a $260.00 price target (down from $290.00) on shares of Zscaler in a report on Friday, May 31st. JMP Securities reissued a “market outperform” rating and set a $270.00 price objective on shares of Zscaler in a report on Monday, June 17th. Needham & Company LLC reiterated a “strong-buy” rating and issued a $290.00 target price on shares of Zscaler in a research report on Friday, June 14th. Finally, JPMorgan Chase & Co. upgraded Zscaler from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $205.00 to $230.00 in a report on Friday, June 14th. 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.21.

Zscaler Stock Down 1.0 %

Shares of NASDAQ:ZS opened at $196.66 on Wednesday. The company has a market cap of $29.73 billion, a price-to-earnings ratio of -385.61 and a beta of 0.84. Zscaler, Inc. has a one year low of $131.59 and a one year high of $259.61. The firm has a fifty day moving average price of $177.83 and a two-hundred day moving average price of $202.32. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.75 and a quick ratio of 1.75.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Thursday, May 30th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of ($0.24) by $0.39. The company had revenue of $553.20 million during the quarter, compared to analyst estimates of $535.55 million. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. Analysts anticipate that Zscaler, Inc. will post -0.34 EPS for the current fiscal year.

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.