Creative Planning Purchases 13,978 Shares of Zscaler, Inc. (NASDAQ:ZS)

Creative Planning lifted its position in Zscaler, Inc. (NASDAQ:ZS) by 11.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 137,983 shares of the company’s stock after acquiring an additional 13,978 shares during the quarter. Creative Planning owned 0.09% of Zscaler worth $26,519,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ZS. 1832 Asset Management L.P. purchased a new stake in Zscaler in the fourth quarter worth $217,683,000. Quadrature Capital Ltd purchased a new position in Zscaler in the 1st quarter worth about $47,217,000. Vanguard Group Inc. lifted its holdings in Zscaler by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 8,843,772 shares of the company’s stock valued at $1,959,426,000 after buying an additional 206,908 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in Zscaler in the 1st quarter valued at about $27,954,000. Finally, Massachusetts Financial Services Co. MA bought a new position in Zscaler in the 2nd quarter worth about $25,287,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ZS. Barclays lowered their price target on Zscaler from $230.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, September 4th. Loop Capital cut their price target on Zscaler from $180.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. UBS Group lowered their price objective on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $230.00 target price on shares of Zscaler in a report on Wednesday, September 4th. Finally, Piper Sandler reduced their price target on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, September 4th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.39.

Zscaler Trading Up 0.5 %

Zscaler stock opened at $171.77 on Monday. Zscaler, Inc. has a fifty-two week low of $146.71 and a fifty-two week high of $259.61. The business’s 50-day simple moving average is $178.92 and its two-hundred day simple moving average is $181.84.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.09. 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 for the quarter, compared to the consensus estimate of $567.46 million. During the same quarter in the prior year, the company earned ($0.17) EPS. Zscaler’s quarterly revenue was up 30.3% on a year-over-year basis. As a group, analysts expect that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Activity at Zscaler

In other news, Director Andrew William Fraser Brown sold 8,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the sale, the director now owns 25,907 shares in the company, valued at $4,510,408.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the transaction, the chief executive officer now owns 361,432 shares in the company, valued at $61,906,072.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Andrew William Fraser Brown sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $174.10, for a total value of $1,392,800.00. Following the sale, the director now owns 25,907 shares in the company, valued at $4,510,408.70. The disclosure for this sale can be found here. Insiders sold 24,120 shares of company stock worth $4,153,834 over the last three months. Company insiders own 19.20% of the company’s stock.

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.