Burney Co. Invests $1.33 Million in Zscaler, Inc. (NASDAQ:ZS)

Burney Co. purchased a new stake in Zscaler, Inc. (NASDAQ:ZS) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,926 shares of the company’s stock, valued at approximately $1,331,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Zscaler by 1.3% during the first quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock worth $1,726,307,000 after buying an additional 118,002 shares during the period. 1832 Asset Management L.P. acquired a new position in Zscaler during the 4th quarter worth about $217,683,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Zscaler by 19.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 619,293 shares of the company’s stock valued at $119,294,000 after acquiring an additional 102,616 shares during the period. Norges Bank acquired a new position in Zscaler in the 4th quarter valued at about $117,599,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Zscaler by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock worth $95,335,000 after purchasing an additional 25,181 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zscaler

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. JMP Securities reiterated a “market outperform” rating and issued a $270.00 price objective on shares of Zscaler in a research note on Monday, June 17th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $182.00 price objective (down previously from $275.00) on shares of Zscaler in a research note on Tuesday, May 28th. Loop Capital lowered their price objective on Zscaler from $225.00 to $180.00 and set a “hold” rating for the company in a research report on Friday, May 31st. Mizuho cut shares of Zscaler from an “outperform” rating to a “neutral” rating and set a $220.00 target price on the stock. in a report on Tuesday, July 16th. Finally, BTIG Research lowered their price target on shares of Zscaler from $258.00 to $220.00 and set a “buy” rating for the company in a report on Friday, May 31st. Eight analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Zscaler presently has an average rating of “Moderate Buy” and an average price target of $226.18.

Zscaler Stock Up 1.2 %

ZS opened at $199.62 on Friday. Zscaler, Inc. has a 12 month low of $143.36 and a 12 month high of $259.61. The business has a 50-day moving average of $188.33 and a two-hundred day moving average of $190.71. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market capitalization of $30.17 billion, a price-to-earnings ratio of -386.76 and a beta of 0.85.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $553.20 million during the quarter, compared to analysts’ expectations of $535.55 million. On average, research analysts expect that Zscaler, Inc. will post -0.32 earnings per share for the current year.

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.