Caprock Group LLC Acquires Shares of 1,228 Zscaler, Inc. (NASDAQ:ZS)

Caprock Group LLC bought a new stake in Zscaler, Inc. (NASDAQ:ZS) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,228 shares of the company’s stock, valued at approximately $210,000.

Several other large investors have also modified their holdings of ZS. EverSource Wealth Advisors LLC increased its stake in Zscaler by 8.6% during the second quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock valued at $149,000 after purchasing an additional 66 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Zscaler by 21.3% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after buying an additional 67 shares during the last quarter. American Trust raised its stake in Zscaler by 6.1% during the second quarter. American Trust now owns 1,210 shares of the company’s stock worth $233,000 after acquiring an additional 70 shares during the period. Valley Brook Capital Group Inc. lifted its holdings in Zscaler by 4.0% in the third quarter. Valley Brook Capital Group Inc. now owns 1,972 shares of the company’s stock worth $337,000 after acquiring an additional 75 shares during the last quarter. Finally, Swedbank AB boosted its stake in Zscaler by 0.8% in the second quarter. Swedbank AB now owns 9,036 shares of the company’s stock valued at $1,737,000 after acquiring an additional 76 shares during the period. Institutional investors own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ZS. Susquehanna reissued a “positive” rating and issued a $210.00 price target on shares of Zscaler in a report on Thursday, September 5th. Scotiabank reduced their price target on shares of Zscaler from $210.00 to $195.00 and set a “sector outperform” rating for the company in a report on Wednesday, September 4th. BMO Capital Markets dropped their price objective on shares of Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Oppenheimer reduced their target price on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Finally, 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, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Zscaler has an average rating of “Moderate Buy” and an average price target of $218.55.

Insider Activity

In related news, CFO Remo Canessa sold 8,455 shares of Zscaler stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the transaction, the chief financial officer now owns 231,793 shares in the company, valued at $39,701,505.04. This trade represents a 3.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert Schlossman sold 4,947 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was 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 in the company, valued at approximately $18,254,563.02. The trade was a 4.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $5,256,651 in the last 90 days. Company insiders own 19.20% of the company’s stock.

Zscaler Price Performance

ZS stock opened at $210.96 on Monday. The firm has a market capitalization of $32.17 billion, a P/E ratio of -527.39 and a beta of 0.82. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $259.61. The company’s 50 day simple moving average is $186.49 and its 200-day simple moving average is $183.69.

Zscaler (NASDAQ:ZS) last released its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) 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 company had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. During the same quarter in the prior year, the company earned ($0.17) earnings per share. The company’s revenue for the quarter was up 30.3% on a year-over-year basis. Sell-side analysts predict that Zscaler, Inc. will post -0.95 EPS for the current fiscal year.

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.