Sanctuary Advisors LLC Makes New Investment in Zscaler, Inc. (NASDAQ:ZS)

Sanctuary Advisors LLC purchased a new stake in Zscaler, Inc. (NASDAQ:ZS) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,499 shares of the company’s stock, valued at approximately $1,328,000.

Several other institutional investors have also made changes to their positions in ZS. Quest Partners LLC bought a new stake in Zscaler during the second quarter worth about $28,000. Asset Dedication LLC raised its holdings in shares of Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after buying an additional 166 shares in the last quarter. American Capital Advisory LLC bought a new stake in shares of Zscaler during the 2nd quarter worth $50,000. GAMMA Investing LLC boosted its stake in Zscaler by 103.2% in the first quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $61,000 after buying an additional 160 shares in the last quarter. Finally, Sanders Morris Harris LLC bought a new position in Zscaler in the first quarter valued at about $67,000. 46.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ZS. Oppenheimer reduced their price objective on Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Mizuho downgraded shares of Zscaler from an “outperform” rating to a “neutral” rating and set a $220.00 target price on the stock. in a research report on Tuesday, July 16th. BTIG Research decreased their price target on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Needham & Company LLC cut their price target on shares of Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a report on Wednesday, September 4th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $230.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $216.97.

Insider Buying and Selling

In other news, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the sale, the insider now owns 105,806 shares in the company, valued at approximately $19,224,950.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the sale, the insider now owns 105,806 shares in the company, valued at approximately $19,224,950.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Remo Canessa sold 8,455 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 transaction of $1,448,172.40. Following the completion of the transaction, the chief financial officer now owns 231,793 shares of the company’s stock, valued at $39,701,505.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,502 shares of company stock worth $5,256,651. Corporate insiders own 19.20% of the company’s stock.

Zscaler Price Performance

NASDAQ:ZS opened at $195.50 on Friday. Zscaler, Inc. has a 1 year low of $152.60 and a 1 year high of $259.61. The business has a fifty day simple moving average of $177.83 and a two-hundred day simple moving average of $180.76. The company has a market capitalization of $29.55 billion, a P/E ratio of -383.33 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The company had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. During the same period in the prior year, the company posted ($0.17) EPS. Zscaler’s revenue was up 30.3% compared to the same quarter last year. As a group, analysts anticipate 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.