Aviance Capital Partners LLC Buys New Shares in Zscaler, Inc. (NASDAQ:ZS)

Aviance Capital Partners LLC purchased a new position in Zscaler, Inc. (NASDAQ:ZS) in the first quarter, HoldingsChannel.com reports. The firm purchased 7,000 shares of the company’s stock, valued at approximately $1,348,000.

Several other institutional investors have also recently made changes to their positions in the stock. Spire Wealth Management raised its holdings in Zscaler by 24.5% during the fourth quarter. Spire Wealth Management now owns 249 shares of the company’s stock valued at $58,000 after acquiring an additional 49 shares during the period. US Bancorp DE grew its position in shares of Zscaler by 0.3% during the fourth quarter. US Bancorp DE now owns 22,944 shares of the company’s stock worth $5,083,000 after purchasing an additional 59 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Zscaler by 1.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,761 shares of the company’s stock valued at $585,000 after purchasing an additional 63 shares during the period. Lindbrook Capital LLC boosted its stake in Zscaler by 41.1% in the 4th quarter. Lindbrook Capital LLC now owns 237 shares of the company’s stock worth $53,000 after purchasing an additional 69 shares during the period. Finally, Quadrant Capital Group LLC grew its holdings in Zscaler by 66.7% during the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after buying an additional 70 shares in the last quarter. Institutional investors own 46.45% of the company’s stock.

Zscaler Stock Up 3.3 %

Shares of ZS stock opened at $198.62 on Tuesday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04. Zscaler, Inc. has a twelve month low of $131.59 and a twelve month high of $259.61. The stock has a fifty day simple moving average of $177.44 and a two-hundred day simple moving average of $202.50.

Zscaler (NASDAQ:ZS) last posted its earnings results on Thursday, May 30th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.39. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The business had revenue of $553.20 million for the quarter, compared to the consensus estimate of $535.55 million. On average, research analysts expect that Zscaler, Inc. will post -0.34 EPS for the current year.

Insider Buying and Selling

In related news, CFO Remo Canessa sold 7,981 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the sale, the chief financial officer now owns 243,486 shares of the company’s stock, valued at $43,148,154.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 19.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ZS has been the subject of a number of research reports. Truist Financial restated a “buy” rating and set a $260.00 target price on shares of Zscaler in a research report on Monday, April 1st. Rosenblatt Securities restated a “neutral” rating and set a $190.00 price objective on shares of Zscaler in a research report on Tuesday, May 28th. Susquehanna decreased their target price on Zscaler from $275.00 to $210.00 and set a “positive” rating on the stock in a research report on Friday, May 31st. Robert W. Baird cut their price target on Zscaler from $265.00 to $260.00 and set an “outperform” rating for the company in a report on Friday, May 24th. Finally, Macquarie reiterated an “outperform” rating and set a $245.00 target price on shares of Zscaler in a research report on Tuesday, March 19th. Six analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $225.21.

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.