Wealth Enhancement Advisory Services LLC Buys 1,178 Shares of Zscaler, Inc. (NASDAQ:ZS)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 11.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,515 shares of the company’s stock after purchasing an additional 1,178 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Zscaler were worth $1,968,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Quest Partners LLC acquired a new stake in shares of Zscaler during the second quarter valued at about $28,000. Asset Dedication LLC increased its position in Zscaler by 436.8% in the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after acquiring an additional 166 shares during the period. American Capital Advisory LLC bought a new position in shares of Zscaler during the second quarter valued at $50,000. GAMMA Investing LLC lifted its holdings in shares of Zscaler by 21.3% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after purchasing an additional 67 shares during the period. Finally, Quarry LP grew its stake in shares of Zscaler by 613.0% in the second quarter. Quarry LP now owns 385 shares of the company’s stock worth $74,000 after purchasing an additional 331 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zscaler

In related news, CFO Remo Canessa sold 8,455 shares of Zscaler stock in a transaction 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 sale, the chief financial officer now directly owns 231,793 shares in the company, valued at approximately $39,701,505.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Remo Canessa sold 8,455 shares of the stock in a transaction dated Tuesday, September 17th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the completion of the sale, the insider now directly owns 107,241 shares in the company, valued at approximately $18,254,563.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,502 shares of company stock worth $5,256,651. Insiders own 19.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ZS. Barclays cut their target price on Zscaler from $230.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. Piper Sandler reduced their target price on Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. Robert W. Baird lowered their price target on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. BMO Capital Markets reduced their price objective on shares of Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $216.73.

Zscaler Stock Up 1.0 %

Shares of NASDAQ:ZS opened at $182.59 on Friday. The stock has a market cap of $27.84 billion, a price-to-earnings ratio of -456.46 and a beta of 0.82. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $259.61. The business’s 50 day moving average is $179.63 and its 200 day moving average is $180.85.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The firm 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%. The business’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.17) EPS. As a group, equities research analysts expect that Zscaler, Inc. will post -0.95 earnings per share for the current 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.