Zscaler, Inc. (NASDAQ:ZS) Shares Acquired by Norway Savings Bank

Norway Savings Bank increased its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 33.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,770 shares of the company’s stock after purchasing an additional 950 shares during the quarter. Norway Savings Bank’s holdings in Zscaler were worth $726,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Zscaler during the 3rd quarter worth $448,000. LPL Financial LLC increased its stake in Zscaler by 10.2% in the third quarter. LPL Financial LLC now owns 44,546 shares of the company’s stock valued at $6,931,000 after purchasing an additional 4,121 shares during the last quarter. Mariner LLC lifted its position in Zscaler by 10.4% during the third quarter. Mariner LLC now owns 8,441 shares of the company’s stock worth $1,313,000 after buying an additional 797 shares during the period. Stifel Financial Corp boosted its stake in Zscaler by 5.3% in the 3rd quarter. Stifel Financial Corp now owns 57,888 shares of the company’s stock worth $9,007,000 after buying an additional 2,927 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Zscaler by 5.6% in the 3rd quarter. Northern Trust Corp now owns 556,446 shares of the company’s stock valued at $86,577,000 after buying an additional 29,405 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Stock Up 1.6 %

Shares of NASDAQ ZS opened at $192.19 on Friday. The firm’s 50-day simple moving average is $176.89 and its 200 day simple moving average is $202.77. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75. Zscaler, Inc. has a fifty-two week low of $131.59 and a fifty-two week high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.39. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. The company had revenue of $553.20 million for the quarter, compared to analysts’ expectations of $535.55 million. On average, equities research analysts predict that Zscaler, Inc. will post -0.34 EPS for the current year.

Insider Buying and Selling

In other news, CFO Remo Canessa sold 4,689 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $180.93, for a total transaction of $848,380.77. Following the completion of the sale, the chief financial officer now directly owns 251,467 shares of the company’s stock, valued at approximately $45,497,924.31. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 19.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ZS has been the subject of several research reports. Loop Capital lowered their price objective on shares of Zscaler from $225.00 to $180.00 and set a “hold” rating for the company in a research note on Friday, May 31st. Robert W. Baird dropped their price target on Zscaler from $265.00 to $260.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $182.00 price objective (down from $275.00) on shares of Zscaler in a research note on Tuesday, May 28th. The Goldman Sachs Group increased their target price on shares of Zscaler from $189.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Finally, Citigroup reduced 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. Six analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and an average price target of $225.21.

Zscaler Company 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.