Zscaler, Inc. (NASDAQ:ZS) Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. lifted its holdings in Zscaler, Inc. (NASDAQ:ZS) by 32.5% in the third quarter, Holdings Channel reports. The firm owned 11,135 shares of the company’s stock after buying an additional 2,730 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Zscaler were worth $1,903,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZS. Wealthcare Advisory Partners LLC increased its stake in Zscaler by 40.0% during the 1st 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. Deltec Asset Management LLC purchased a new position in Zscaler in the 1st quarter worth $2,678,000. Aviance Capital Partners LLC acquired a new stake in Zscaler during the 1st quarter worth about $1,348,000. Lake Street Private Wealth LLC purchased a new stake in Zscaler during the 1st quarter valued at about $777,000. Finally, United Capital Management of KS Inc. increased its holdings in shares of Zscaler by 8.7% in the first quarter. United Capital Management of KS Inc. now owns 26,528 shares of the company’s stock valued at $5,110,000 after purchasing an additional 2,127 shares during the period. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Stock Up 0.6 %

Shares of ZS opened at $184.96 on Friday. Zscaler, Inc. has a 52-week low of $152.60 and a 52-week high of $259.61. The stock has a fifty day simple moving average of $180.90 and a two-hundred day simple moving average of $180.76. The company has a market capitalization of $27.96 billion, a PE ratio of -362.67 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last issued its earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The company had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. Zscaler’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.17) earnings per share. As a group, equities analysts anticipate that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ZS has been the topic of a number of recent research reports. Scotiabank dropped their target price on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating on the stock in a research report on Wednesday, September 4th. Bank of America lowered shares of Zscaler from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $265.00 to $195.00 in a research note on Wednesday, September 4th. Morgan Stanley boosted their target price on shares of Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. Piper Sandler cut their price target on Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 4th. Finally, Oppenheimer decreased their price objective on Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.73.

Insider Buying and Selling

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the transaction, the chief executive officer now owns 361,432 shares of the company’s stock, valued at $61,906,072.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’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 $488,490.56. Following the sale, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Remo Canessa sold 8,455 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the completion of the transaction, the chief financial officer now owns 231,793 shares in the company, valued at approximately $39,701,505.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,502 shares of company stock worth $5,256,651. Company 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.