Alaethes Wealth LLC Has $1.36 Million Position in Zscaler, Inc. (NASDAQ:ZS)

Alaethes Wealth LLC grew its position in Zscaler, Inc. (NASDAQ:ZS) by 9.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,069 shares of the company’s stock after purchasing an additional 635 shares during the period. Alaethes Wealth LLC’s holdings in Zscaler were worth $1,359,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZS. Dimensional Fund Advisors LP lifted its holdings in shares of Zscaler by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 145,455 shares of the company’s stock valued at $32,230,000 after purchasing an additional 4,257 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Zscaler by 1.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,665 shares of the company’s stock valued at $1,255,000 after buying an additional 70 shares during the period. Quadrant Capital Group LLC increased its position in shares of Zscaler by 66.7% during the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after acquiring an additional 70 shares in the last quarter. Norges Bank acquired a new stake in shares of Zscaler during the fourth quarter worth $117,599,000. Finally, PNC Financial Services Group Inc. lifted its position in Zscaler by 3.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,398 shares of the company’s stock valued at $1,639,000 after acquiring an additional 251 shares in the last quarter. 46.45% of the stock is owned by institutional investors.

Zscaler Trading Up 0.1 %

Shares of NASDAQ ZS opened at $172.71 on Friday. The company has a market cap of $26.34 billion, a price-to-earnings ratio of -338.65 and a beta of 0.82. Zscaler, Inc. has a 12 month low of $146.59 and a 12 month high of $259.61. The stock has a 50-day moving average price of $181.28 and a two-hundred day moving average price of $183.13.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.18. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The company had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. During the same period in the prior year, the business earned ($0.17) earnings per share. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. On average, sell-side analysts predict that Zscaler, Inc. will post -0.92 earnings per share for the current year.

Insider Activity

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the transaction, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the transaction, the chief executive officer now owns 361,432 shares in the company, valued at approximately $61,906,072.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Rich sold 4,813 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $824,370.64. Following the completion of the sale, the insider now directly owns 103,259 shares in the company, valued at $17,686,201.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,120 shares of company stock valued at $2,761,034. Insiders own 19.20% of the company’s stock.

Analyst Upgrades and Downgrades

ZS has been the topic of a number of recent research reports. Barclays dropped their target price on Zscaler from $230.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 4th. Rosenblatt Securities restated a “neutral” rating and set a $190.00 target price on shares of Zscaler in a report on Wednesday, September 4th. Cantor Fitzgerald decreased their target price on shares of Zscaler from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Citigroup cut their price target on shares of Zscaler from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $220.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.39.

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.