2,091 Shares in Zscaler, Inc. (NASDAQ:ZS) Bought by Choreo LLC

Choreo LLC purchased a new position in Zscaler, Inc. (NASDAQ:ZS) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,091 shares of the company’s stock, valued at approximately $414,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ZS. Sierra Summit Advisors LLC bought a new stake in Zscaler during the fourth quarter valued at $5,609,000. State Board of Administration of Florida Retirement System increased its stake in Zscaler by 6.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company’s stock valued at $20,021,000 after purchasing an additional 6,683 shares during the last quarter. Norges Bank bought a new stake in Zscaler during the fourth quarter valued at $117,599,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Zscaler by 9.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock valued at $22,478,000 after purchasing an additional 9,689 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC increased its stake in Zscaler by 40.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 2,438 shares of the company’s stock valued at $470,000 after purchasing an additional 696 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Citigroup reduced their price target on shares of Zscaler from $270.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. UBS Group reduced their price target on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Morgan Stanley boosted their price target on shares of Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. Canaccord Genuity Group reduced their price target 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. Finally, Loop Capital reduced their price target on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $218.39.

Zscaler Price Performance

Shares of ZS opened at $171.78 on Tuesday. The company has a market capitalization of $25.96 billion, a price-to-earnings ratio of -336.82 and a beta of 0.82. Zscaler, Inc. has a fifty-two week low of $146.59 and a fifty-two week high of $259.61. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.75 and a quick ratio of 1.75. The business’s 50-day moving average is $183.45 and its 200-day moving average is $183.94.

Zscaler (NASDAQ:ZS) last issued its earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative return on equity of 3.75% and a negative net margin of 2.66%. The firm’s quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) EPS. Equities research analysts expect that Zscaler, Inc. will post -0.92 EPS for the current fiscal year.

Insider Activity at Zscaler

In related news, CFO Remo Canessa sold 7,981 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.21, for a total value of $1,414,313.01. Following the completion of the sale, the chief financial officer now owns 243,486 shares of the company’s stock, valued at approximately $43,148,154.06. The sale was disclosed in a document filed with the SEC, which is available at this link. 19.20% of the stock is currently owned by company insiders.

Zscaler 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.