CoreCap Advisors LLC Purchases New Position in Zscaler, Inc. (NASDAQ:ZS)

CoreCap Advisors LLC acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,598 shares of the company’s stock, valued at approximately $307,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. US Bancorp DE grew its holdings in shares of Zscaler by 0.3% during the fourth quarter. US Bancorp DE now owns 22,944 shares of the company’s stock worth $5,083,000 after purchasing an additional 59 shares during the last quarter. Kovack Advisors Inc. increased its position in Zscaler by 3.4% in the 1st quarter. Kovack Advisors Inc. now owns 2,042 shares of the company’s stock valued at $393,000 after acquiring an additional 67 shares during the period. GAMMA Investing LLC raised its stake in shares of Zscaler by 21.3% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after acquiring an additional 67 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Zscaler by 66.7% during 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. Finally, Janney Montgomery Scott LLC grew its stake in shares of Zscaler by 1.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,665 shares of the company’s stock worth $1,255,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Zscaler Trading Up 2.0 %

NASDAQ ZS opened at $170.06 on Friday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $184.05 and a 200 day simple moving average of $184.81. Zscaler, Inc. has a 12 month low of $146.59 and a 12 month high of $259.61. The firm has a market capitalization of $25.70 billion, a P/E ratio of -333.45 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last announced its earnings results on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.75%. The company had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. During the same quarter in the prior year, the company posted ($0.17) earnings per share. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, analysts predict that Zscaler, Inc. will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ZS shares. Canaccord Genuity Group lowered their target price on Zscaler from $260.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. BMO Capital Markets cut their price objective on Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Raymond James began coverage on shares of Zscaler in a research report on Tuesday, July 23rd. They set a “market perform” rating for the company. Citigroup dropped 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. Finally, Barclays decreased their price objective on shares of Zscaler from $230.00 to $200.00 and set an “overweight” rating for the company in a research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and a consensus price target of $218.39.

Insiders Place Their Bets

In other Zscaler news, CFO Remo Canessa sold 4,689 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was 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 of the company’s stock, valued at $45,497,924.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 19.20% of the company’s stock.

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.