MBB Public Markets I LLC Acquires Shares of 6,245 Zscaler, Inc. (NASDAQ:ZS)

MBB Public Markets I LLC bought a new position in Zscaler, Inc. (NASDAQ:ZS) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 6,245 shares of the company’s stock, valued at approximately $1,200,000.

A number of other large investors have also recently modified their holdings of ZS. Sierra Summit Advisors LLC purchased a new stake in Zscaler in the fourth quarter worth $5,609,000. State Board of Administration of Florida Retirement System grew its position in shares of Zscaler by 6.9% in 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 buying an additional 6,683 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Zscaler by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock worth $22,478,000 after acquiring an additional 9,689 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its position 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 acquiring an additional 696 shares during the period. Finally, Norden Group LLC bought a new stake in Zscaler during the first quarter worth about $846,000. Institutional investors own 46.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ZS. Wells Fargo & Company lowered their target price on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. Oppenheimer dropped their target price on Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Raymond James assumed coverage on Zscaler in a report on Tuesday, July 23rd. They set a “market perform” rating for the company. JMP Securities reiterated a “market outperform” rating and issued a $270.00 price target on shares of Zscaler in a research note on Wednesday, September 4th. Finally, Piper Sandler reduced their price objective on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, September 4th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $218.39.

Insiders Place Their Bets

In related news, Director Andrew William Fraser Brown sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the transaction, the director now directly owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Andrew William Fraser Brown sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the completion of the transaction, the director now directly owns 25,907 shares of the company’s stock, valued at $4,510,408.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the sale, the chief executive officer now owns 361,432 shares in the company, valued at approximately $61,906,072.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,120 shares of company stock worth $4,153,834. Corporate insiders own 19.20% of the company’s stock.

Zscaler Stock Down 0.5 %

NASDAQ ZS opened at $170.94 on Tuesday. The stock’s 50-day moving average price is $178.57 and its 200-day moving average price is $181.65. The company has a market capitalization of $25.84 billion, a P/E ratio of -335.18 and a beta of 0.82. Zscaler, Inc. has a 52 week low of $149.63 and a 52 week high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.09. The business 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 company’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. Research analysts anticipate that Zscaler, Inc. will post -0.95 EPS for the current year.

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.