International Assets Investment Management LLC raised its position in shares of Zscaler, Inc. (NASDAQ:ZS – Free Report) by 49.1% in the second quarter, Holdings Channel.com reports. The fund owned 1,552 shares of the company’s stock after buying an additional 511 shares during the quarter. International Assets Investment Management LLC’s holdings in Zscaler were worth $487,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Novare Capital Management LLC purchased a new stake in Zscaler during the second quarter valued at about $392,000. Aspiriant LLC purchased a new stake in Zscaler during the second quarter valued at about $218,000. Stratos Wealth Partners LTD. grew its position in Zscaler by 7.2% during the second quarter. Stratos Wealth Partners LTD. now owns 2,456 shares of the company’s stock valued at $771,000 after acquiring an additional 165 shares during the period. Private Trust Co. NA grew its position in Zscaler by 419.2% during the second quarter. Private Trust Co. NA now owns 270 shares of the company’s stock valued at $85,000 after acquiring an additional 218 shares during the period. Finally, Tlwm grew its position in Zscaler by 1.0% during the second quarter. Tlwm now owns 4,649 shares of the company’s stock valued at $1,460,000 after acquiring an additional 44 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.
Zscaler Trading Up 1.5%
Shares of ZS opened at $310.37 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.01 and a quick ratio of 2.01. Zscaler, Inc. has a 12 month low of $164.78 and a 12 month high of $319.89. The stock’s 50-day moving average is $288.01 and its two-hundred day moving average is $272.54. The stock has a market cap of $49.13 billion, a PE ratio of -1,149.52 and a beta of 1.06.
Insiders Place Their Bets
In related news, insider Robert Schlossman sold 7,006 shares of the business’s stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $305.57, for a total value of $2,140,823.42. Following the transaction, the insider owned 76,132 shares in the company, valued at approximately $23,263,655.24. The trade was a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jagtar Singh Chaudhry sold 2,865 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $280.70, for a total value of $804,205.50. Following the completion of the transaction, the chief executive officer owned 350,700 shares in the company, valued at approximately $98,441,490. This trade represents a 0.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,884 shares of company stock worth $11,406,825. 18.10% of the stock is owned by insiders.
Wall Street Analyst Weigh In
ZS has been the subject of a number of research reports. Susquehanna boosted their price target on Zscaler from $320.00 to $340.00 and gave the company a “positive” rating in a research report on Wednesday, September 3rd. Wedbush reissued an “outperform” rating and set a $330.00 price target on shares of Zscaler in a research report on Wednesday, September 3rd. Barclays boosted their price objective on Zscaler from $300.00 to $320.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. Evercore ISI boosted their price objective on Zscaler from $290.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 3rd. Finally, Wall Street Zen cut Zscaler from a “buy” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $307.86.
Get Our Latest Research Report on ZS
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.
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