Farther Finance Advisors LLC Has $179,000 Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Farther Finance Advisors LLC raised its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 161.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 890 shares of the company’s stock after purchasing an additional 549 shares during the period. Farther Finance Advisors LLC’s holdings in Zscaler were worth $179,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Corebridge Financial Inc. increased its position in Zscaler by 0.5% in the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock valued at $2,110,000 after acquiring an additional 54 shares during the period. Erste Asset Management GmbH grew its stake in shares of Zscaler by 0.6% in the fourth quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock worth $1,805,000 after purchasing an additional 56 shares during the last quarter. Ironwood Investment Management LLC grew its stake in shares of Zscaler by 1.0% in the fourth quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock worth $1,127,000 after purchasing an additional 64 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Zscaler by 16.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock valued at $88,000 after purchasing an additional 69 shares during the period. Finally, Covestor Ltd raised its position in Zscaler by 15.2% during the 4th quarter. Covestor Ltd now owns 622 shares of the company’s stock worth $112,000 after purchasing an additional 82 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zscaler

In other news, insider Adam Geller sold 3,662 shares of the company’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $306.72, for a total transaction of $1,123,208.64. Following the completion of the transaction, the insider now owns 46,813 shares in the company, valued at approximately $14,358,483.36. This represents a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,849 shares of the business’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total transaction of $865,241.30. Following the sale, the chief executive officer now owns 353,565 shares in the company, valued at $107,377,690.50. This trade represents a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 210,793 shares of company stock worth $60,812,794 over the last 90 days. Insiders own 18.10% of the company’s stock.

Zscaler Price Performance

NASDAQ ZS opened at $305.41 on Friday. The business’s 50-day simple moving average is $250.18 and its 200-day simple moving average is $215.46. The firm has a market capitalization of $47.55 billion, a P/E ratio of -1,174.65 and a beta of 1.09. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $309.19.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.08. The company had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. Zscaler’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter last year, the company earned $0.88 earnings per share. On average, equities research analysts expect that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Scotiabank lifted their target price on Zscaler from $310.00 to $360.00 and gave the stock a “sector outperform” rating in a report on Friday, June 6th. Canaccord Genuity Group set a $305.00 price objective on shares of Zscaler and gave the company a “buy” rating in a research note on Monday, June 2nd. Citigroup reiterated a “buy” rating and set a $240.00 target price (up previously from $235.00) on shares of Zscaler in a research report on Wednesday, March 5th. Wedbush raised their price target on shares of Zscaler from $240.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, May 30th. Finally, Bank of America lifted their price target on shares of Zscaler from $285.00 to $340.00 and gave the company a “buy” rating in a research note on Monday, June 9th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and an average price target of $294.03.

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.