Hennion & Walsh Asset Management Inc. Increases Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Hennion & Walsh Asset Management Inc. boosted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 109.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 3,455 shares of the company’s stock after purchasing an additional 1,803 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Zscaler were worth $666,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ZS. Spire Wealth Management raised its position in shares of Zscaler by 24.5% during the fourth quarter. Spire Wealth Management now owns 249 shares of the company’s stock valued at $58,000 after buying an additional 49 shares during the last quarter. US Bancorp DE raised its holdings in shares of Zscaler by 0.3% in the fourth quarter. US Bancorp DE now owns 22,944 shares of the company’s stock worth $5,083,000 after buying an additional 59 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of Zscaler by 1.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,761 shares of the company’s stock worth $585,000 after acquiring an additional 63 shares during the last quarter. Lindbrook Capital LLC grew its position in Zscaler by 41.1% in the 4th quarter. Lindbrook Capital LLC now owns 237 shares of the company’s stock valued at $53,000 after acquiring an additional 69 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Zscaler by 66.7% in the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after purchasing an additional 70 shares during the period. Institutional investors own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Canaccord Genuity Group cut their price target on shares of Zscaler from $260.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. BMO Capital Markets reaffirmed an “outperform” rating and set a $208.00 price target on shares of Zscaler in a research note on Friday, June 14th. Scotiabank dropped their price objective on Zscaler from $250.00 to $210.00 and set a “sector outperform” rating on the stock in a research note on Friday, May 31st. Truist Financial reaffirmed a “buy” rating and set a $260.00 target price on shares of Zscaler in a research report on Monday, April 1st. Finally, Susquehanna dropped their price target on Zscaler from $275.00 to $210.00 and set a “positive” rating on the stock in a research report on Friday, May 31st. Six analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and an average target price of $225.21.

Insiders Place Their Bets

In related news, CFO Remo Canessa sold 7,981 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.21, for a total value of $1,414,313.01. Following the completion of the sale, the chief financial officer now owns 243,486 shares of the company’s stock, valued at $43,148,154.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 19.20% of the stock is currently owned by corporate insiders.

Zscaler Stock Down 1.0 %

Shares of ZS opened at $196.66 on Wednesday. The stock has a 50 day moving average price of $177.83 and a 200 day moving average price of $202.32. The stock has a market capitalization of $29.73 billion, a price-to-earnings ratio of -385.61 and a beta of 0.84. 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 one year low of $131.59 and a one year high of $259.61.

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