Benjamin Edwards Inc. Makes New $449,000 Investment in Zscaler, Inc. (NASDAQ:ZS)

Benjamin Edwards Inc. bought a new stake in shares of Zscaler, Inc. (NASDAQ:ZS) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,628 shares of the company’s stock, valued at approximately $449,000.

Other hedge funds have also recently made changes to their positions in the company. Champlain Investment Partners LLC lifted its stake in Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after acquiring an additional 283,540 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Zscaler by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock worth $95,335,000 after purchasing an additional 25,181 shares during the period. Westfield Capital Management Co. LP boosted its stake in shares of Zscaler by 33.8% during the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after purchasing an additional 100,814 shares in the last quarter. Federated Hermes Inc. increased its holdings in Zscaler by 18.3% during the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock valued at $75,857,000 after buying an additional 61,037 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Zscaler by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock worth $60,696,000 after buying an additional 16,634 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ZS. Wedbush cut their price target on Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Morgan Stanley reduced their target price on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a report on Tuesday, December 3rd. Guggenheim reissued a “neutral” rating on shares of Zscaler in a research report on Tuesday, December 3rd. Citigroup lifted their price objective on shares of Zscaler from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, JMP Securities reissued a “market outperform” rating and set a $240.00 target price (down previously from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $224.84.

Insider Activity

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 completion of the transaction, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. This represents a 3.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction on Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the sale, the insider now directly owns 107,241 shares in the company, valued at approximately $18,254,563.02. This trade represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $5,256,651 in the last quarter. Corporate insiders own 18.10% of the company’s stock.

Zscaler Price Performance

NASDAQ:ZS opened at $211.99 on Monday. The company has a 50 day moving average price of $193.47 and a 200-day moving average price of $185.80. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61. The firm has a market cap of $32.52 billion, a price-to-earnings ratio of -847.96 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.80%. The business had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. The company’s revenue was up 26.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Zscaler, Inc. will post -0.31 earnings per share for the current fiscal 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.