Cambridge Investment Research Advisors Inc. Has $4.11 Million Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Cambridge Investment Research Advisors Inc. lowered its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 13.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,708 shares of the company’s stock after selling 3,226 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Zscaler were worth $4,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. ORG Partners LLC raised its stake in Zscaler by 284.8% in the first quarter. ORG Partners LLC now owns 127 shares of the company’s stock valued at $26,000 after purchasing an additional 94 shares in the last quarter. Summit Securities Group LLC acquired a new position in Zscaler in the fourth quarter valued at about $27,000. CVA Family Office LLC raised its stake in Zscaler by 120.3% in the first quarter. CVA Family Office LLC now owns 152 shares of the company’s stock valued at $30,000 after purchasing an additional 83 shares in the last quarter. Colonial Trust Co SC acquired a new position in Zscaler in the fourth quarter valued at about $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in Zscaler by 295.0% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 158 shares of the company’s stock valued at $31,000 after purchasing an additional 118 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. The Goldman Sachs Group set a $207.00 price target on Zscaler and gave the company a “neutral” rating in a research note on Thursday, March 6th. Guggenheim reaffirmed a “neutral” rating on shares of Zscaler in a research note on Friday, May 30th. JMP Securities boosted their price target on Zscaler from $240.00 to $310.00 and gave the company a “market outperform” rating in a research note on Friday, May 30th. Wells Fargo & Company raised Zscaler from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $260.00 to $385.00 in a research note on Friday, June 13th. Finally, Roth Capital reiterated a “neutral” rating on shares of Zscaler in a research report on Wednesday, May 28th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $295.50.

Insider Buying and Selling at Zscaler

In other news, Director Andrew William Fraser Brown sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the transaction, the director now directly owns 27,216 shares of the company’s stock, valued at $5,606,496. This represents a 26.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Syam Nair sold 28,947 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $250.00, for a total value of $7,236,750.00. Following the transaction, the insider now directly owns 110,566 shares in the company, valued at $27,641,500. The trade was a 20.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 210,793 shares of company stock valued at $60,812,794. 18.10% of the stock is currently owned by company insiders.

Zscaler Price Performance

Shares of ZS stock opened at $315.32 on Friday. The business’s 50 day simple moving average is $263.30 and its 200 day simple moving average is $219.91. Zscaler, Inc. has a one year low of $153.45 and a one year high of $317.26. The stock has a market capitalization of $49.10 billion, a PE ratio of -1,212.77 and a beta of 1.09.

Zscaler (NASDAQ:ZS) last announced its earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The business had revenue of $678.03 million for the quarter, compared to analysts’ expectations of $667.13 million. During the same period in the prior year, the business posted $0.88 earnings per share. The firm’s revenue was up 22.6% on a year-over-year basis. As a group, research analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current year.

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.