Zscaler, Inc. $ZS Position Raised by Wedbush Fund Advisers LLC

Wedbush Fund Advisers LLC boosted its position in Zscaler, Inc. (NASDAQ:ZS) by 36.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 146,077 shares of the company’s stock after purchasing an additional 39,296 shares during the period. Zscaler makes up about 1.8% of Wedbush Fund Advisers LLC’s portfolio, making the stock its 25th largest holding. Wedbush Fund Advisers LLC’s holdings in Zscaler were worth $20,619,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Zscaler by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 11,423,424 shares of the company’s stock valued at $2,569,357,000 after buying an additional 55,521 shares during the period. BlackRock Inc. bought a new position in Zscaler during the second quarter valued at about $1,396,028,000. First Trust Advisors LP grew its holdings in Zscaler by 36.2% during the first quarter. First Trust Advisors LP now owns 3,518,678 shares of the company’s stock worth $493,635,000 after acquiring an additional 935,781 shares during the period. Price T Rowe Associates Inc. MD raised its position in Zscaler by 43.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,572,358 shares of the company’s stock worth $578,576,000 after acquiring an additional 777,414 shares in the last quarter. Finally, State Street Corp raised its position in Zscaler by 3.4% in the fourth quarter. State Street Corp now owns 2,337,604 shares of the company’s stock worth $525,774,000 after acquiring an additional 77,800 shares in the last quarter. 46.45% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Zscaler news, insider Robert Schlossman sold 3,146 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $126.43, for a total transaction of $397,748.78. Following the completion of the sale, the insider directly owned 69,366 shares in the company, valued at approximately $8,769,943.38. This trade represents a 4.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Adam Geller sold 2,817 shares of Zscaler stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $122.60, for a total value of $345,364.20. Following the transaction, the insider directly owned 42,314 shares in the company, valued at approximately $5,187,696.40. This trade represents a 6.24% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,269 shares of company stock valued at $2,052,589 in the last 90 days. Insiders own 17.20% of the company’s stock.

Zscaler Stock Performance

Shares of Zscaler stock opened at $168.42 on Wednesday. The stock has a market cap of $27.24 billion, a PE ratio of -350.87, a price-to-earnings-growth ratio of 103.63 and a beta of 0.94. The business has a fifty day simple moving average of $152.84 and a 200-day simple moving average of $149.98. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.72. Zscaler, Inc. has a 12 month low of $114.63 and a 12 month high of $336.99.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, May 26th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.07. The business had revenue of $850.48 million for the quarter, compared to the consensus estimate of $835.14 million. Zscaler had a negative return on equity of 0.37% and a negative net margin of 2.44%.Zscaler’s revenue for the quarter was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 earnings per share. On average, sell-side analysts anticipate that Zscaler, Inc. will post 0.13 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ZS shares. Robert W. Baird cut their price target on shares of Zscaler from $265.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Wells Fargo & Company lifted their price objective on shares of Zscaler from $180.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. KeyCorp boosted their target price on shares of Zscaler from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday. Citigroup reissued a “market outperform” rating on shares of Zscaler in a research note on Wednesday, May 27th. Finally, Piper Sandler reduced their target price on shares of Zscaler from $185.00 to $160.00 and set a “neutral” rating for the company in a report on Wednesday, May 27th. Thirty-four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Zscaler has a consensus rating of “Moderate Buy” and an average price target of $215.92.

Zscaler Profile

Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.

Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.