Commerce Bank purchased a new stake in shares of Zscaler, Inc. (NASDAQ:ZS) during the second quarter, Holdings Channel reports. The firm purchased 977 shares of the company’s stock, valued at approximately $211,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Zscaler by 114.4% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 92,771 shares of the company’s stock worth $15,926,000 after buying an additional 49,503 shares during the period. GSB Wealth Management LLC purchased a new position in shares of Zscaler in the first quarter worth about $2,993,000. Morgan Stanley increased its holdings in shares of Zscaler by 8.1% in the first quarter. Morgan Stanley now owns 338,535 shares of the company’s stock worth $58,116,000 after buying an additional 25,466 shares during the period. Stifel Financial Corp increased its holdings in shares of Zscaler by 12.5% in the first quarter. Stifel Financial Corp now owns 38,508 shares of the company’s stock worth $6,610,000 after buying an additional 4,266 shares during the period. Finally, Strategic Wealth Partners Ltd. increased its holdings in shares of Zscaler by 25.4% in the first quarter. Strategic Wealth Partners Ltd. now owns 3,510 shares of the company’s stock worth $603,000 after buying an additional 712 shares during the period. Institutional investors and hedge funds own 43.78% of the company’s stock.
ZS has been the topic of several recent analyst reports. Truist Securities raised their target price on Zscaler from $225.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, September 10th. BMO Capital Markets raised their target price on Zscaler from $250.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, September 10th. Colliers Securities reissued a “buy” rating and issued a $320.00 target price on shares of Zscaler in a research note on Friday, September 10th. Wolfe Research initiated coverage on Zscaler in a research note on Friday, August 6th. They issued an “outperform” rating and a $285.00 target price on the stock. Finally, Needham & Company LLC raised their target price on Zscaler from $280.00 to $345.00 and gave the stock a “strong-buy” rating in a research note on Friday, September 10th. Eight investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $288.67.
Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Wednesday, September 8th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. Zscaler had a negative net margin of 38.93% and a negative return on equity of 40.50%. The company had revenue of $197.07 million during the quarter, compared to analyst estimates of $187.44 million. During the same period in the previous year, the business earned ($0.34) EPS. The firm’s revenue for the quarter was up 56.5% on a year-over-year basis. On average, equities analysts anticipate that Zscaler, Inc. will post -1.81 EPS for the current year.
In other Zscaler news, major shareholder Ajay Mangal sold 25,984 shares of the business’s stock in a transaction on Wednesday, June 23rd. The shares were sold at an average price of $220.43, for a total transaction of $5,727,653.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen Blasing sold 2,000 shares of the business’s stock in a transaction on Monday, June 21st. The shares were sold at an average price of $216.25, for a total transaction of $432,500.00. Following the sale, the director now owns 3,763 shares of the company’s stock, valued at $813,748.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,984 shares of company stock valued at $20,434,303. 21.40% of the stock is owned by company insiders.
Zscaler Company Profile
Zscaler, Inc engages in the provision of cloud-based internet security platform. It provides four integrated and comprehensive solutions to customers using cloud platform, the Zscaler Zero Trust Exchange. The firm offers Zcaler internet access, private access, and platform. The company was founded by Jay Chaudhry and K.
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