Commonwealth Equity Services LLC Acquires 35,244 Shares of Zscaler, Inc. (NASDAQ:ZS)

Commonwealth Equity Services LLC raised its stake in Zscaler, Inc. (NASDAQ:ZS) by 81.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 78,418 shares of the company’s stock after purchasing an additional 35,244 shares during the quarter. Commonwealth Equity Services LLC owned 0.05% of Zscaler worth $15,071,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ZS. Spire Wealth Management grew its stake in shares of Zscaler by 24.5% in the fourth quarter. Spire Wealth Management now owns 249 shares of the company’s stock worth $58,000 after purchasing an additional 49 shares during the last quarter. US Bancorp DE grew its position in shares of Zscaler by 0.3% in the 4th quarter. US Bancorp DE now owns 22,944 shares of the company’s stock worth $5,083,000 after buying an additional 59 shares during the last quarter. Kovack Advisors Inc. increased its stake in shares of Zscaler by 3.4% during the first quarter. Kovack Advisors Inc. now owns 2,042 shares of the company’s stock valued at $393,000 after buying an additional 67 shares during the period. GAMMA Investing LLC raised 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 valued at $73,000 after acquiring an additional 67 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Zscaler by 66.7% in the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after acquiring an additional 70 shares during the period. Institutional investors own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ZS. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $190.00 target price on shares of Zscaler in a research report on Tuesday, May 28th. Sanford C. Bernstein decreased their target price on Zscaler from $280.00 to $270.00 and set an “outperform” rating for the company in a research report on Friday, May 31st. JMP Securities restated a “market outperform” rating and set a $270.00 price target on shares of Zscaler in a research report on Monday, June 17th. Oppenheimer reissued an “outperform” rating and set a $260.00 price objective (down previously from $290.00) on shares of Zscaler in a research report on Friday, May 31st. Finally, Royal Bank of Canada upped their target price on shares of Zscaler from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Eight equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $226.18.

Insider Buying and Selling at Zscaler

In related news, CFO Remo Canessa sold 4,689 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $180.93, for a total transaction of $848,380.77. Following the completion of the sale, the chief financial officer now directly owns 251,467 shares in the company, valued at $45,497,924.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 19.20% of the stock is owned by corporate insiders.

Zscaler Price Performance

NASDAQ ZS opened at $193.19 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.75 and a quick ratio of 1.75. Zscaler, Inc. has a 1-year low of $146.59 and a 1-year high of $259.61. The stock has a market capitalization of $29.20 billion, a price-to-earnings ratio of -378.80 and a beta of 0.85. The business’s fifty day moving average price is $189.34 and its 200-day moving average price is $188.72.

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.