KCM Investment Advisors LLC Makes New $373,000 Investment in Zscaler, Inc. (NASDAQ:ZS)

KCM Investment Advisors LLC acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 2,180 shares of the company’s stock, valued at approximately $373,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC acquired a new stake in Zscaler in the 2nd quarter valued at $28,000. Asset Dedication LLC grew its stake in Zscaler by 436.8% in the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after acquiring an additional 166 shares during the period. American Capital Advisory LLC acquired a new stake in Zscaler in the 2nd quarter valued at $50,000. GAMMA Investing LLC grew its stake in Zscaler by 21.3% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after acquiring an additional 67 shares during the period. Finally, Quarry LP grew its stake in Zscaler by 613.0% in the 2nd quarter. Quarry LP now owns 385 shares of the company’s stock valued at $74,000 after acquiring an additional 331 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Price Performance

NASDAQ ZS opened at $201.47 on Friday. The business has a fifty day moving average price of $182.23 and a two-hundred day moving average price of $182.52. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The stock has a market capitalization of $30.72 billion, a PE ratio of -503.66 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. During the same period in the prior year, the business posted ($0.17) earnings per share. Zscaler’s quarterly revenue was up 30.3% on a year-over-year basis. As a group, sell-side analysts expect that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Insider Activity at Zscaler

In related news, insider Robert Schlossman sold 4,947 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $170.22, for a total transaction of $842,078.34. Following the completion of the sale, the insider now owns 107,241 shares of the company’s stock, valued at $18,254,563.02. This trade represents a 4.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael J. Rich sold 4,813 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the completion of the sale, the insider now owns 103,259 shares in the company, valued at $17,686,201.52. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,502 shares of company stock worth $5,256,651. Corporate insiders own 19.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ZS. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 target price on shares of Zscaler in a research note on Wednesday, September 4th. Bank of America lowered Zscaler from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $265.00 to $195.00 in a report on Wednesday, September 4th. Loop Capital reduced their price target on Zscaler from $180.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Susquehanna reiterated a “positive” rating and set a $210.00 price target on shares of Zscaler in a report on Thursday, September 5th. Finally, Wedbush reduced their price target on Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Ten investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.18.

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.