Archford Capital Strategies LLC Sells 2,759 Shares of Zscaler, Inc. (NASDAQ:ZS)

Archford Capital Strategies LLC trimmed its stake in Zscaler, Inc. (NASDAQ:ZS) by 67.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,306 shares of the company’s stock after selling 2,759 shares during the period. Archford Capital Strategies LLC’s holdings in Zscaler were worth $259,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. ORG Partners LLC lifted its holdings in shares of Zscaler by 284.8% in the 1st quarter. ORG Partners LLC now owns 127 shares of the company’s stock worth $26,000 after acquiring an additional 94 shares during the last quarter. Summit Securities Group LLC bought a new stake in Zscaler in the fourth quarter worth about $27,000. Colonial Trust Co SC bought a new stake in Zscaler in the fourth quarter worth about $28,000. Elequin Capital LP bought a new stake in Zscaler in the fourth quarter worth about $30,000. Finally, CVA Family Office LLC lifted its stake in shares of Zscaler by 120.3% during the 1st quarter. CVA Family Office LLC now owns 152 shares of the company’s stock worth $30,000 after acquiring an additional 83 shares during the last quarter. 46.45% of the stock is owned by institutional investors.

Zscaler Stock Up 1.1%

NASDAQ ZS opened at $311.98 on Thursday. The firm has a market cap of $48.58 billion, a PE ratio of -1,199.92 and a beta of 1.09. The company has a 50 day moving average price of $258.76 and a 200 day moving average price of $218.30. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $316.44.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. Zscaler’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 EPS. On average, equities research analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Insider Transactions at Zscaler

In other Zscaler news, insider Syam Nair sold 28,947 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the transaction, the insider now owns 110,566 shares in the company, valued at approximately $27,641,500. This represents a 20.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrew William Fraser Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the transaction, the director now owns 27,216 shares in the company, valued at $5,606,496. The trade was a 26.87% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 210,793 shares of company stock valued at $60,812,794. Corporate insiders own 18.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ZS shares. Bank of America raised their price target on Zscaler from $285.00 to $340.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. BMO Capital Markets lifted their target price on Zscaler from $233.00 to $295.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. FBN Securities upgraded Zscaler to a “strong-buy” rating in a research report on Friday, May 30th. Robert W. Baird lifted their price objective on shares of Zscaler from $295.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, May 30th. Finally, Mizuho lifted their price objective on shares of Zscaler from $275.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, June 4th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $294.03.

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.