Alaethes Wealth LLC Purchases 635 Shares of Zscaler, Inc. (NASDAQ:ZS)

Alaethes Wealth LLC increased its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 9.9% during the second quarter, Holdings Channel reports. The institutional investor owned 7,069 shares of the company’s stock after purchasing an additional 635 shares during the period. Alaethes Wealth LLC’s holdings in Zscaler were worth $1,359,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ZS. Sierra Summit Advisors LLC bought a new stake in shares of Zscaler during the fourth quarter worth about $5,609,000. State Board of Administration of Florida Retirement System increased its holdings in Zscaler by 6.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company’s stock worth $20,021,000 after purchasing an additional 6,683 shares in the last quarter. Norges Bank purchased a new stake in shares of Zscaler in the fourth quarter worth approximately $117,599,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Zscaler by 9.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock valued at $22,478,000 after purchasing an additional 9,689 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its holdings in shares of Zscaler by 40.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 2,438 shares of the company’s stock valued at $470,000 after purchasing an additional 696 shares in the last quarter. Institutional investors own 46.45% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Loop Capital lowered their price target on Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. UBS Group reduced their target price on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Bank of America lowered shares of Zscaler from a “buy” rating to a “neutral” rating and dropped their price target for the company from $265.00 to $195.00 in a research report on Wednesday, September 4th. Oppenheimer reduced their price objective on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Finally, Canaccord Genuity Group dropped their target price on shares of Zscaler from $260.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $218.39.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $172.71 on Friday. Zscaler, Inc. has a fifty-two week low of $146.59 and a fifty-two week high of $259.61. The stock has a market cap of $26.34 billion, a PE ratio of -338.65 and a beta of 0.82. The stock has a fifty day moving average of $181.28 and a 200-day moving average of $183.13.

Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. During the same quarter in the previous year, the firm earned ($0.17) EPS. The company’s quarterly revenue was up 30.3% compared to the same quarter last year. On average, sell-side analysts predict that Zscaler, Inc. will post -0.92 EPS for the current year.

Insider Buying and Selling

In related news, CFO Remo Canessa sold 8,455 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $1,448,172.40. Following the sale, the chief financial officer now owns 231,793 shares in the company, valued at $39,701,505.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Remo Canessa sold 8,455 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the transaction, the chief financial officer now directly owns 231,793 shares in the company, valued at $39,701,505.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Rich sold 4,813 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 103,259 shares in the company, valued at $17,686,201.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,120 shares of company stock valued at $2,761,034. Company insiders own 19.20% of the company’s stock.

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.