Bleakley Financial Group LLC Acquires New Stake in Zscaler, Inc. (NASDAQ:ZS)

Bleakley Financial Group LLC acquired a new stake in shares of Zscaler, Inc. (NASDAQ:ZS) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 4,464 shares of the company’s stock, valued at approximately $763,000.

Other hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in Zscaler by 8.6% in the second quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock worth $149,000 after buying an additional 66 shares during the last quarter. Kovack Advisors Inc. grew its position in Zscaler by 3.4% in the first quarter. Kovack Advisors Inc. now owns 2,042 shares of the company’s stock worth $393,000 after buying an additional 67 shares during the last quarter. GAMMA Investing LLC grew its position in Zscaler by 21.3% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after buying an additional 67 shares during the last quarter. American Trust grew its position in Zscaler by 6.1% in the second quarter. American Trust now owns 1,210 shares of the company’s stock worth $233,000 after buying an additional 70 shares during the last quarter. Finally, Swedbank AB grew its position in Zscaler by 0.8% in the second quarter. Swedbank AB now owns 9,036 shares of the company’s stock worth $1,737,000 after buying an additional 76 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insiders Place Their Bets

In other news, insider Robert Schlossman sold 1,435 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Michael J. Rich sold 4,813 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 transaction of $824,370.64. Following the completion of the transaction, the insider now owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the transaction, the insider now directly owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock valued at $5,256,651 in the last quarter. Insiders own 19.20% of the company’s stock.

Wall Street Analyst Weigh In

ZS has been the topic of several recent research reports. BMO Capital Markets decreased their price target on shares of Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. JMP Securities reiterated a “market outperform” rating and set a $270.00 price objective on shares of Zscaler in a research report on Wednesday, September 4th. Bank of America cut shares of Zscaler from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $265.00 to $195.00 in a research report on Wednesday, September 4th. Citigroup lowered their price objective on shares of Zscaler from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Finally, Raymond James started coverage on shares of Zscaler in a research report on Tuesday, July 23rd. They set a “market perform” rating on the stock. Ten research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and an average price target of $216.73.

Zscaler Price Performance

Zscaler stock opened at $187.96 on Tuesday. The firm has a market cap of $28.41 billion, a price-to-earnings ratio of -368.55 and a beta of 0.82. Zscaler, Inc. has a fifty-two week low of $152.60 and a fifty-two week high of $259.61. The firm has a fifty day moving average price of $180.78 and a two-hundred day moving average price of $180.66.

Zscaler (NASDAQ:ZS) last released its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.17) EPS. As a group, sell-side analysts expect that Zscaler, Inc. will post -0.95 earnings per share for the current year.

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.