Harmony Asset Management LLC Buys Shares of 1,600 Zscaler, Inc. (NASDAQ:ZS)

Harmony Asset Management LLC purchased a new position in Zscaler, Inc. (NASDAQ:ZS) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,600 shares of the company’s stock, valued at approximately $308,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Zscaler by 1.3% in the first quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock valued at $1,726,307,000 after acquiring an additional 118,002 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in Zscaler in the fourth quarter worth $217,683,000. Mirae Asset Global Investments Co. Ltd. increased its position in Zscaler by 19.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 619,293 shares of the company’s stock worth $119,294,000 after buying an additional 102,616 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Zscaler by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after buying an additional 25,181 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Zscaler by 18.3% in the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock worth $75,857,000 after buying an additional 61,037 shares during the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ZS has been the subject of several analyst reports. Sanford C. Bernstein reduced their target price on Zscaler from $280.00 to $270.00 and set an “outperform” rating for the company in a report on Friday, May 31st. Wells Fargo & Company decreased their price objective on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. Needham & Company LLC cut their target price on shares of Zscaler from $290.00 to $235.00 and set a “strong-buy” rating for the company in a research report on Wednesday, September 4th. Citigroup decreased 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. Finally, Susquehanna reissued a “positive” rating and set a $210.00 price objective on shares of Zscaler in a research report on Thursday, September 5th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and an average price target of $218.39.

Zscaler Stock Up 0.1 %

Shares of NASDAQ ZS opened at $172.71 on Monday. The company has a market cap of $26.10 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 firm’s 50-day simple moving average is $181.28 and its 200 day simple moving average is $182.83.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, beating 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 business had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. During the same period in the prior year, the firm earned ($0.17) earnings per share. Zscaler’s revenue was up 30.3% compared to the same quarter last year. On average, equities analysts expect that Zscaler, Inc. will post -0.92 earnings per share for the current year.

Insider Activity

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the sale, 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 SEC, which can be accessed through this link. In other Zscaler news, insider Michael J. Rich sold 4,813 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $824,370.64. Following the transaction, the insider now owns 103,259 shares of the company’s stock, valued at $17,686,201.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was 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 disclosure for this sale can be found here. Insiders have sold 16,120 shares of company stock valued at $2,761,034 over the last 90 days. 19.20% of the stock is owned by company 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.