Zscaler, Inc. (NASDAQ:ZS) Stake Boosted by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. raised its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 1.9% in the 4th quarter, Holdings Channel reports. The firm owned 10,043 shares of the company’s stock after purchasing an additional 188 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Zscaler were worth $1,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of ZS. Quest Partners LLC bought a new stake in shares of Zscaler in the 2nd quarter worth approximately $28,000. Prestige Wealth Management Group LLC bought a new stake in Zscaler in the third quarter valued at $31,000. True Wealth Design LLC boosted its holdings in shares of Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after acquiring an additional 185 shares during the period. Versant Capital Management Inc grew its position in shares of Zscaler by 136.8% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after acquiring an additional 104 shares during the last quarter. Finally, Modus Advisors LLC acquired a new stake in shares of Zscaler in the 4th quarter worth about $36,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ZS. Deutsche Bank Aktiengesellschaft lifted their price target on Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Wells Fargo & Company upped their target price on Zscaler from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. BMO Capital Markets upped their price objective on Zscaler from $197.00 to $222.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Piper Sandler lifted their target price on Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price target on shares of Zscaler in a research report on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.84.

Zscaler Stock Down 1.8 %

Shares of ZS opened at $186.49 on Tuesday. The firm has a market cap of $28.61 billion, a price-to-earnings ratio of -745.96 and a beta of 0.87. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $259.61. The company’s fifty day moving average is $196.90 and its 200-day moving average is $188.24.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. During the same period last year, the business earned ($0.18) EPS. The firm’s revenue was up 26.4% compared to the same quarter last year. As a group, research analysts predict that Zscaler, Inc. will post -0.24 earnings per share for the current fiscal year.

Insider Transactions at Zscaler

In other news, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the transaction, the chief financial officer now owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the transaction, the chief executive officer now owns 358,569 shares in the company, valued at $71,828,542.08. This represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is owned by insiders.

About Zscaler

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.