Strategic Planning Group LLC Grows Stake in Zscaler, Inc. (NASDAQ:ZS)

Strategic Planning Group LLC boosted its position in Zscaler, Inc. (NASDAQ:ZSFree Report) by 8.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,843 shares of the company’s stock after purchasing an additional 232 shares during the period. Strategic Planning Group LLC’s holdings in Zscaler were worth $548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Zscaler by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 8,843,772 shares of the company’s stock valued at $1,959,426,000 after acquiring an additional 206,908 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in Zscaler in the fourth quarter worth $217,683,000. Northern Trust Corp grew its holdings in Zscaler by 5.6% in the third quarter. Northern Trust Corp now owns 556,446 shares of the company’s stock worth $86,577,000 after purchasing an additional 29,405 shares during the last quarter. Norges Bank purchased a new position in Zscaler in the fourth quarter worth $117,599,000. Finally, Westfield Capital Management Co. LP grew its holdings in Zscaler by 19.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 412,063 shares of the company’s stock worth $91,297,000 after purchasing an additional 65,980 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Mizuho dropped their price objective on shares of Zscaler from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Robert W. Baird lowered their price target on shares of Zscaler from $265.00 to $260.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. JMP Securities reaffirmed a “market outperform” rating and issued a $270.00 price target on shares of Zscaler in a report on Monday, June 17th. Oppenheimer reiterated an “outperform” rating and issued a $260.00 price objective (down previously from $290.00) on shares of Zscaler in a research report on Friday, May 31st. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $208.00 price objective on shares of Zscaler in a research report on Friday, June 14th. Six analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.21.

View Our Latest Stock Analysis on Zscaler

Zscaler Stock Up 0.8 %

Zscaler stock traded up $1.51 during mid-day trading on Monday, reaching $181.06. 1,646,075 shares of the company’s stock were exchanged, compared to its average volume of 2,258,431. The company has a market cap of $27.37 billion, a P/E ratio of -355.02 and a beta of 0.85. Zscaler, Inc. has a twelve month low of $131.59 and a twelve month high of $259.61. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. The company has a fifty day moving average of $175.82 and a 200-day moving average of $203.24.

Zscaler (NASDAQ:ZSGet Free Report) last announced its quarterly earnings data on Thursday, May 30th. The company reported $0.15 earnings per share 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 analyst estimates of $535.55 million. Sell-side analysts expect that Zscaler, Inc. will post -0.38 EPS for the current year.

Insider Buying and Selling

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

Zscaler Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Zscaler (NASDAQ:ZS)

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