Benjamin F. Edwards & Company Inc. Boosts Holdings in Zscaler, Inc. (NASDAQ:ZS)

Benjamin F. Edwards & Company Inc. grew its stake in Zscaler, Inc. (NASDAQ:ZS) by 13.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,750 shares of the company’s stock after buying an additional 334 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Zscaler were worth $529,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Sierra Summit Advisors LLC purchased a new position in Zscaler during the fourth quarter worth about $5,609,000. State Board of Administration of Florida Retirement System increased its holdings in Zscaler by 6.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company’s stock valued at $20,021,000 after acquiring an additional 6,683 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Zscaler by 9.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock valued at $22,478,000 after purchasing an additional 9,689 shares in the last quarter. Wealthcare Advisory Partners LLC raised its position in shares of Zscaler by 40.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,438 shares of the company’s stock worth $470,000 after purchasing an additional 696 shares during the last quarter. Finally, Norden Group LLC purchased a new stake in Zscaler in the 1st quarter valued at approximately $846,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Price Performance

Shares of ZS opened at $174.15 on Wednesday. The company has a 50-day moving average of $180.11 and a two-hundred day moving average of $182.47. The stock has a market cap of $26.32 billion, a price-to-earnings ratio of -341.47 and a beta of 0.82. Zscaler, Inc. has a one year low of $146.59 and a one year high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.18. The firm had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The company’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.17) EPS. Analysts anticipate that Zscaler, Inc. will post -0.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

ZS has been the subject of a number of analyst reports. Raymond James began coverage on Zscaler in a report on Tuesday, July 23rd. They issued a “market perform” rating for the company. Cantor Fitzgerald lowered their price target on shares of Zscaler from $200.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. UBS Group cut their price objective on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Citigroup decreased their target price on shares of Zscaler from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Finally, Sanford C. Bernstein cut their price target on Zscaler from $280.00 to $270.00 and set an “outperform” rating for the company in a report on Friday, May 31st. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $218.39.

Insider Activity at Zscaler

In other news, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the sale, the director now directly owns 25,907 shares of the company’s stock, valued at $4,510,408.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the completion of the sale, the director now directly owns 25,907 shares in the company, valued at $4,510,408.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the transaction, the chief executive officer now owns 361,432 shares in the company, valued at approximately $61,906,072.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,120 shares of company stock valued at $4,153,834. Company insiders own 19.20% of the company’s stock.

Zscaler 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.