Zscaler, Inc. (NASDAQ:ZS) Shares Acquired by North Star Asset Management Inc.

North Star Asset Management Inc. increased its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 10.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 35,067 shares of the company’s stock after acquiring an additional 3,459 shares during the period. North Star Asset Management Inc.’s holdings in Zscaler were worth $6,740,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ZS. Van ECK Associates Corp raised its position in Zscaler by 16.4% in the 4th quarter. Van ECK Associates Corp now owns 957 shares of the company’s stock valued at $212,000 after purchasing an additional 135 shares in the last quarter. New York Life Investment Management LLC increased its position in shares of Zscaler by 12.8% in the 4th quarter. New York Life Investment Management LLC now owns 1,555 shares of the company’s stock valued at $345,000 after purchasing an additional 176 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Zscaler by 18.4% in the 4th quarter. Amalgamated Bank now owns 11,038 shares of the company’s stock valued at $2,446,000 after purchasing an additional 1,715 shares in the last quarter. M&T Bank Corp lifted its position in shares of Zscaler by 14.4% during the 4th quarter. M&T Bank Corp now owns 3,523 shares of the company’s stock worth $781,000 after purchasing an additional 444 shares during the last quarter. Finally, Axxcess Wealth Management LLC purchased a new position in Zscaler in the fourth quarter valued at $248,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Stock Performance

Zscaler stock opened at $156.78 on Friday. The stock has a fifty day moving average price of $187.65 and a 200 day moving average price of $187.65. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04. Zscaler, Inc. has a 52 week low of $146.59 and a 52 week high of $259.61. The firm has a market capitalization of $23.70 billion, a P/E ratio of -307.41 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last released its earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.18. The business had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.75%. The company’s quarterly revenue was up 30.3% on a year-over-year basis. During the same period last year, the company earned ($0.17) earnings per share. Equities research analysts anticipate that Zscaler, Inc. will post -0.38 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Remo Canessa sold 7,981 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.21, for a total value of $1,414,313.01. Following the completion of the sale, the chief financial officer now owns 243,486 shares in the company, valued at $43,148,154.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 19.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on ZS shares. Susquehanna reaffirmed a “positive” rating and set a $210.00 price objective on shares of Zscaler in a research report on Thursday. Bank of America lowered shares of Zscaler from a “buy” rating to a “neutral” rating and dropped their price target for the company from $265.00 to $195.00 in a research note on Wednesday. Rosenblatt Securities reissued a “neutral” rating and set a $190.00 price objective on shares of Zscaler in a report on Wednesday. Oppenheimer lowered their target price on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Mizuho cut shares of Zscaler from an “outperform” rating to a “neutral” rating and set a $220.00 price target for the company. in a research report on Tuesday, July 16th. Nine research analysts have rated the stock with a hold rating, twenty-four 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 “Moderate Buy” and an average price target of $218.39.

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.