Commerce Bank Buys Shares of 11,373 Zscaler, Inc. $ZS

Commerce Bank acquired a new stake in shares of Zscaler, Inc. (NASDAQ:ZS) in the second quarter, Holdings Channel reports. The fund acquired 11,373 shares of the company’s stock, valued at approximately $1,605,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new position in shares of Zscaler during the second quarter worth about $3,449,000. Quantbot Technologies LP bought a new stake in Zscaler in the 2nd quarter valued at about $2,522,000. Westpac Banking Corp bought a new stake in Zscaler in the 2nd quarter valued at about $203,000. Korea Investment CORP acquired a new position in Zscaler during the 2nd quarter valued at about $5,727,000. Finally, Rakuten Securities Inc. acquired a new position in Zscaler during the 2nd quarter valued at about $334,000. 46.45% of the stock is currently owned by institutional investors.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $168.42 on Wednesday. Zscaler, Inc. has a 1 year low of $114.63 and a 1 year high of $336.99. The firm has a market cap of $27.24 billion, a P/E ratio of -350.87, a PEG ratio of 103.63 and a beta of 0.94. The stock has a fifty day moving average price of $152.84 and a two-hundred day moving average price of $149.98. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.86 and a current ratio of 1.86.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Tuesday, May 26th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.07. Zscaler had a negative return on equity of 0.37% and a negative net margin of 2.44%.The business had revenue of $850.48 million during the quarter, compared to analyst estimates of $835.14 million. During the same quarter in the prior year, the firm posted $0.84 earnings per share. The company’s revenue was up 25.4% on a year-over-year basis. Research analysts forecast that Zscaler, Inc. will post 0.13 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on ZS shares. Cantor Fitzgerald restated an “overweight” rating and issued a $225.00 price target on shares of Zscaler in a research note on Wednesday, August 19th. Barclays boosted their price objective on Zscaler from $170.00 to $192.00 and gave the stock an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. decreased their price objective on Zscaler from $250.00 to $205.00 and set an “overweight” rating for the company in a report on Wednesday, May 27th. BMO Capital Markets lowered their target price on Zscaler from $210.00 to $178.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 27th. Finally, B. Riley Financial reduced their price target on Zscaler from $225.00 to $215.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Thirty-four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.92.

Insider Buying and Selling at Zscaler

In other news, insider Adam Geller sold 2,817 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $122.60, for a total transaction of $345,364.20. Following the completion of the transaction, the insider owned 42,314 shares in the company, valued at approximately $5,187,696.40. This trade represents a 6.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jagtar Singh Chaudhry sold 2,878 shares of Zscaler stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $126.43, for a total transaction of $363,865.54. Following the completion of the transaction, the chief executive officer directly owned 343,038 shares in the company, valued at $43,370,294.34. This represents a 0.83% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 16,269 shares of company stock valued at $2,052,589 in the last ninety days. 17.20% of the stock is owned by insiders.

About Zscaler

Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.

Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.