Stratos Wealth Partners LTD. Invests $455,000 in Zscaler, Inc. (NASDAQ:ZS)

Stratos Wealth Partners LTD. purchased a new position in shares of Zscaler, Inc. (NASDAQ:ZS) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,291 shares of the company’s stock, valued at approximately $455,000.

A number of other large investors have also modified their holdings of the business. Proficio Capital Partners LLC acquired a new stake in shares of Zscaler during the fourth quarter worth about $5,305,000. HighTower Advisors LLC lifted its holdings in shares of Zscaler by 12.1% during the fourth quarter. HighTower Advisors LLC now owns 72,391 shares of the company’s stock worth $13,060,000 after purchasing an additional 7,817 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Zscaler during the fourth quarter worth about $213,000. Corient Private Wealth LLC lifted its holdings in shares of Zscaler by 8.1% during the fourth quarter. Corient Private Wealth LLC now owns 18,991 shares of the company’s stock worth $3,426,000 after purchasing an additional 1,429 shares during the period. Finally, SouthState Corp lifted its holdings in shares of Zscaler by 4.4% during the fourth quarter. SouthState Corp now owns 27,738 shares of the company’s stock worth $5,004,000 after purchasing an additional 1,170 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Price Performance

ZS stock opened at $291.14 on Tuesday. The firm has a market capitalization of $45.33 billion, a P/E ratio of -1,119.77 and a beta of 1.11. The business’s 50-day moving average is $282.23 and its two-hundred day moving average is $228.27. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $318.46.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $667.13 million. During the same quarter in the prior year, the business posted $0.88 EPS. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, analysts expect that Zscaler, Inc. will post -0.1 EPS for the current year.

Analyst Upgrades and Downgrades

ZS has been the subject of a number of analyst reports. Rosenblatt Securities boosted their price target on Zscaler from $235.00 to $315.00 and gave the company a “buy” rating in a report on Friday, May 30th. JMP Securities boosted their price objective on Zscaler from $310.00 to $355.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 1st. Stephens restated an “overweight” rating and issued a $255.00 price objective on shares of Zscaler in a research report on Tuesday, May 27th. Royal Bank Of Canada boosted their price objective on Zscaler from $288.00 to $304.00 and gave the company an “outperform” rating in a research report on Friday, May 30th. Finally, Oppenheimer boosted their price objective on Zscaler from $290.00 to $345.00 and gave the company an “outperform” rating in a research report on Friday, June 6th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Zscaler presently has a consensus rating of “Moderate Buy” and an average target price of $296.82.

Insider Activity

In other Zscaler news, insider Adam Geller sold 3,662 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $306.72, for a total transaction of $1,123,208.64. Following the completion of the sale, the insider directly owned 46,813 shares of the company’s stock, valued at approximately $14,358,483.36. This trade represents a 7.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew William Fraser Brown sold 20,333 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $296.72, for a total value of $6,033,207.76. Following the sale, the director directly owned 27,216 shares of the company’s stock, valued at $8,075,531.52. The trade was a 42.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 200,793 shares of company stock worth $58,752,794 over the last ninety days. 18.10% of the stock is owned by corporate insiders.

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.