Commerce Bank Takes Position in Zscaler, Inc. $ZS

Commerce Bank purchased a new position in shares of Zscaler, Inc. (NASDAQ:ZS) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,373 shares of the company’s stock, valued at approximately $1,605,000.

Several other institutional investors also recently bought and sold shares of the business. Binnacle Investments Inc purchased a new stake in Zscaler during the 3rd quarter worth $25,000. AlphaCentric Advisors LLC purchased a new stake in shares of Zscaler during the fourth quarter valued at approximately $29,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Zscaler during the fourth quarter worth $30,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Zscaler in the fourth quarter valued at $32,000. Finally, Western Wealth Management LLC acquired a new stake in Zscaler during the 1st quarter valued at $33,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Stock Down 4.3%

NASDAQ:ZS opened at $168.42 on Wednesday. The company has a market capitalization 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. Zscaler, Inc. has a one year low of $114.63 and a one year high of $336.99. The stock has a 50-day simple moving average of $152.84 and a 200 day simple moving average of $149.98. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.86 and a current ratio of 1.86.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.07. Zscaler had a negative return on equity of 0.37% and a negative net margin of 2.44%.The firm had revenue of $850.48 million during the quarter, compared to analyst estimates of $835.14 million. During the same period in the previous year, the company earned $0.84 earnings per share. Zscaler’s quarterly revenue was up 25.4% on a year-over-year basis. Sell-side analysts predict that Zscaler, Inc. will post 0.13 EPS for the current fiscal year.

Insider Transactions at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,878 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $126.43, for a total transaction of $363,865.54. Following the transaction, the chief executive officer directly owned 343,038 shares in the company, valued at $43,370,294.34. This trade represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 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 directly owned 42,314 shares of the company’s stock, valued at approximately $5,187,696.40. This represents a 6.24% 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 a total of 16,269 shares of company stock worth $2,052,589 in the last quarter. Insiders own 17.20% of the company’s stock.

Wall Street Analyst Weigh In

ZS has been the topic of a number of recent analyst reports. Robert W. Baird cut their price objective on shares of Zscaler from $265.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, May 27th. Stephens reaffirmed an “overweight” rating and set a $200.00 target price on shares of Zscaler in a research report on Friday, June 12th. Evercore set a $155.00 price target on Zscaler and gave the stock an “in-line” rating in a research note on Wednesday, May 27th. Sanford C. Bernstein reduced their price target on Zscaler from $228.00 to $224.00 and set an “outperform” rating for the company in a report on Wednesday, May 27th. Finally, HC Wainwright upgraded Zscaler from a “buy” rating to a “buy” rating in a report on Monday, May 18th. Thirty-four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $215.92.

Zscaler Company 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.