Zscaler, Inc. $ZS Shares Acquired by Wedbush Fund Advisers LLC

Wedbush Fund Advisers LLC boosted its position in Zscaler, Inc. (NASDAQ:ZS) by 36.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,077 shares of the company’s stock after buying an additional 39,296 shares during the quarter. Zscaler makes up about 1.8% of Wedbush Fund Advisers LLC’s investment portfolio, making the stock its 25th biggest holding. Wedbush Fund Advisers LLC owned approximately 0.09% of Zscaler worth $20,619,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Binnacle Investments Inc bought a new stake in shares of Zscaler in the 3rd quarter valued at approximately $25,000. AlphaCentric Advisors LLC acquired a new stake in shares of Zscaler during the 4th quarter valued at approximately $29,000. University of Texas Texas AM Investment Management Co. bought a new position in Zscaler during the fourth quarter worth $30,000. Mcguire Capital Advisors Inc. bought a new position in Zscaler during the fourth quarter worth $32,000. Finally, Western Wealth Management LLC acquired a new position in Zscaler in the first quarter worth $33,000. Institutional investors own 46.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ZS. Evercore set a $155.00 target price on shares of Zscaler and gave the stock an “in-line” rating in a report on Wednesday, May 27th. Stifel Nicolaus boosted their price objective on shares of Zscaler from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Berenberg Bank set a $200.00 price objective on shares of Zscaler in a research note on Thursday, May 28th. Morgan Stanley cut their target price on shares of Zscaler from $155.00 to $145.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 27th. Finally, Guggenheim restated a “buy” rating and issued a $214.00 target price on shares of Zscaler in a research note on Monday. Thirty-four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Zscaler presently has an average rating of “Moderate Buy” and an average target price of $215.92.

Insiders Place Their Bets

In other Zscaler news, insider Adam Geller sold 2,817 shares of the business’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $122.60, for a total transaction of $345,364.20. Following the completion of the transaction, the insider owned 42,314 shares in the company, valued at approximately $5,187,696.40. The trade was a 6.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin Rubin sold 503 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $147.12, for a total value of $74,001.36. Following the completion of the transaction, the chief financial officer directly owned 41,398 shares of the company’s stock, valued at approximately $6,090,473.76. The trade was a 1.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 16,269 shares of company stock valued at $2,052,589 in the last quarter. 17.20% of the stock is owned by insiders.

Zscaler Price Performance

NASDAQ ZS opened at $168.42 on Wednesday. The company has a 50-day moving average price of $152.84 and a two-hundred day moving average price of $149.98. Zscaler, Inc. has a 52 week low of $114.63 and a 52 week high of $336.99. The stock has a market cap of $27.24 billion, a price-to-earnings ratio of -350.87, a price-to-earnings-growth ratio of 103.63 and a beta of 0.94. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.72.

Zscaler (NASDAQ:ZS) last released 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 company had revenue of $850.48 million for the quarter, compared to analysts’ expectations of $835.14 million. Zscaler had a negative return on equity of 0.37% and a negative net margin of 2.44%.The business’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. Analysts forecast that Zscaler, Inc. will post 0.13 EPS for the current year.

About Zscaler

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.