Lake Street Private Wealth LLC Invests $777,000 in Zscaler, Inc. (NASDAQ:ZS)

Lake Street Private Wealth LLC acquired a new stake in Zscaler, Inc. (NASDAQ:ZS) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,036 shares of the company’s stock, valued at approximately $777,000.

Several other hedge funds also recently added to or reduced their stakes in ZS. Jones Financial Companies Lllp purchased a new position in shares of Zscaler during the 4th quarter worth approximately $29,000. GAMMA Investing LLC purchased a new position in shares of Zscaler in the fourth quarter valued at approximately $37,000. Parkside Financial Bank & Trust lifted its holdings in Zscaler by 582.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 157 shares of the company’s stock worth $35,000 after buying an additional 134 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Zscaler by 66.7% in the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after buying an additional 70 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Zscaler by 109.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 209 shares of the company’s stock worth $46,000 after acquiring an additional 109 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Price Performance

Zscaler stock opened at $198.40 on Thursday. Zscaler, Inc. has a 1 year low of $131.59 and a 1 year high of $259.61. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75. The firm has a 50 day moving average price of $178.25 and a 200 day moving average price of $202.29.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Thursday, May 30th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $553.20 million during the quarter, compared to the consensus estimate of $535.55 million. As a group, sell-side analysts forecast that Zscaler, Inc. will post -0.34 EPS for the current fiscal year.

Insider Transactions at Zscaler

In related news, CFO Remo Canessa sold 4,689 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $180.93, for a total value of $848,380.77. Following the transaction, the chief financial officer now owns 251,467 shares in the company, valued at $45,497,924.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 19.20% of the company’s stock.

Analysts Set New Price Targets

ZS has been the subject of several recent analyst reports. Macquarie restated an “outperform” rating and set a $245.00 target price on shares of Zscaler in a research note on Tuesday, March 19th. Robert W. Baird dropped their target price on Zscaler from $265.00 to $260.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. Barclays lifted their price objective on shares of Zscaler from $205.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, May 31st. BMO Capital Markets restated an “outperform” rating and set a $208.00 price objective on shares of Zscaler in a research report on Friday, June 14th. Finally, JPMorgan Chase & Co. raised shares of Zscaler from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $205.00 to $230.00 in a report on Friday, June 14th. Six research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Zscaler currently has a consensus rating of “Moderate Buy” and an average target price of $225.21.

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.