Eastern Bank Acquires Shares of 775 Zscaler, Inc. (NASDAQ:ZS)

Eastern Bank bought a new position in Zscaler, Inc. (NASDAQ:ZS) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 775 shares of the company’s stock, valued at approximately $132,000.

A number of other institutional investors have also recently modified their holdings of ZS. EverSource Wealth Advisors LLC grew its stake in shares of Zscaler by 8.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock valued at $149,000 after purchasing an additional 66 shares during the period. Kovack Advisors Inc. lifted its position in 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 purchasing an additional 67 shares in the last quarter. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 67 shares during the period. American Trust increased its position in Zscaler by 6.1% in the second quarter. American Trust now owns 1,210 shares of the company’s stock worth $233,000 after buying an additional 70 shares in the last quarter. Finally, Swedbank AB raised its stake in shares of Zscaler by 0.8% in the second quarter. Swedbank AB now owns 9,036 shares of the company’s stock worth $1,737,000 after buying an additional 76 shares during the period. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $183.93 on Friday. Zscaler, Inc. has a 1 year low of $152.60 and a 1 year high of $259.61. The firm has a 50-day simple moving average of $181.06 and a two-hundred day simple moving average of $180.75. The company has a market cap of $27.80 billion, a P/E ratio of -360.65 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same quarter in the previous year, the business earned ($0.17) EPS. Zscaler’s revenue was up 30.3% compared to the same quarter last year. As a group, equities research analysts expect that Zscaler, Inc. will post -0.95 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. BTIG Research reduced their target price on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Stifel Nicolaus reissued a “buy” rating and issued a $220.00 price objective on shares of Zscaler in a research note on Wednesday, September 4th. Oppenheimer lowered their target price on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Scotiabank cut their price target on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating for the company in a research note on Wednesday, September 4th. Finally, BMO Capital Markets lowered their price objective on Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $216.73.

Insider Activity at Zscaler

In other news, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This trade represents a 0.00 % decrease in their ownership of the stock. 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 stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michael J. Rich sold 4,813 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the completion of the sale, the insider now directly owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $5,256,651 in the last 90 days. 19.20% of the stock is owned by corporate insiders.

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.