TCG Advisory Services LLC Takes $277,000 Position in Zscaler, Inc. (NASDAQ:ZS)

TCG Advisory Services LLC bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS) in the fourth quarter, HoldingsChannel.com reports. The firm bought 1,251 shares of the company’s stock, valued at approximately $277,000.

A number of other hedge funds also recently made changes to their positions in the business. Sapient Capital LLC acquired a new stake in shares of Zscaler in the fourth quarter valued at approximately $355,000. Axxcess Wealth Management LLC acquired a new stake in shares of Zscaler during the 4th quarter valued at $248,000. M&T Bank Corp raised its position in Zscaler by 14.4% during the 4th quarter. M&T Bank Corp now owns 3,523 shares of the company’s stock worth $781,000 after purchasing an additional 444 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Zscaler by 18.4% in the 4th quarter. Amalgamated Bank now owns 11,038 shares of the company’s stock valued at $2,446,000 after purchasing an additional 1,715 shares during the period. Finally, Los Angeles Capital Management LLC increased its position in Zscaler by 30.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 85,172 shares of the company’s stock valued at $18,871,000 after buying an additional 20,000 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on ZS shares. Macquarie reiterated an “outperform” rating and set a $245.00 price target on shares of Zscaler in a report on Tuesday, March 19th. Citigroup increased their price target on shares of Zscaler from $235.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Wedbush upped their price objective on Zscaler from $250.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $230.00 price target on shares of Zscaler in a report on Wednesday, April 17th. Finally, JMP Securities restated a “market outperform” rating and issued a $270.00 target price on shares of Zscaler in a report on Friday, March 1st. Five investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.24.

Zscaler Price Performance

Shares of ZS stock traded up $0.58 during mid-day trading on Monday, hitting $177.69. 307,604 shares of the stock were exchanged, compared to its average volume of 2,156,969. The company has a market cap of $26.64 billion, a PE ratio of -186.43 and a beta of 0.85. Zscaler, Inc. has a 52-week low of $103.62 and a 52-week high of $259.61. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19. The firm has a fifty day moving average of $192.52 and a 200 day moving average of $203.85.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. The firm had revenue of $525.00 million for the quarter, compared to the consensus estimate of $507.56 million. Research analysts anticipate that Zscaler, Inc. will post -0.8 earnings per share for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, Director Karen Blasing sold 7,000 shares of Zscaler stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $250.90, for a total value of $1,756,300.00. Following the transaction, the director now owns 40,372 shares in the company, valued at approximately $10,129,334.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Karen Blasing sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $250.90, for a total transaction of $1,756,300.00. Following the sale, the director now directly owns 40,372 shares in the company, valued at $10,129,334.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Remo Canessa sold 7,707 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $1,488,607.05. Following the sale, the chief financial officer now owns 255,943 shares in the company, valued at $49,435,390.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,715 shares of company stock worth $4,212,202. Corporate insiders own 19.20% of the company’s stock.

About Zscaler

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.