Harmony Asset Management LLC Purchases 400 Shares of Zscaler, Inc. (NASDAQ:ZS)

Harmony Asset Management LLC boosted its holdings in Zscaler, Inc. (NASDAQ:ZS) by 25.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,000 shares of the company’s stock after acquiring an additional 400 shares during the quarter. Harmony Asset Management LLC’s holdings in Zscaler were worth $342,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its position in Zscaler by 4.1% during the 3rd quarter. HighTower Advisors LLC now owns 64,574 shares of the company’s stock valued at $11,064,000 after purchasing an additional 2,520 shares in the last quarter. Benjamin Edwards Inc. purchased a new stake in Zscaler in the third quarter valued at $449,000. Paloma Partners Management Co acquired a new position in shares of Zscaler in the third quarter worth $1,291,000. Point72 Hong Kong Ltd increased its stake in Zscaler by 1,118.3% in the third quarter. Point72 Hong Kong Ltd now owns 18,311 shares of the company’s stock valued at $3,130,000 after purchasing an additional 16,808 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in Zscaler during the 3rd quarter worth approximately $1,670,000. 46.45% of the stock is currently owned by institutional investors.

Zscaler Stock Performance

NASDAQ:ZS opened at $208.51 on Tuesday. The business has a 50 day simple moving average of $190.12 and a 200 day simple moving average of $184.80. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $259.61.

Zscaler (NASDAQ:ZS) last posted its earnings results 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. The business had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. On average, equities research analysts predict that Zscaler, Inc. will post -0.95 EPS for the current year.

Insider Transactions at Zscaler

In related news, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now directly owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This trade represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael J. Rich sold 4,813 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $824,370.64. Following the transaction, the insider now owns 103,259 shares in the company, valued at approximately $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 valued at $5,256,651. Corporate insiders own 18.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ZS shares. Oppenheimer dropped their price objective on Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Stifel Nicolaus increased their price objective on Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 target price on shares of Zscaler in a research note on Wednesday, September 4th. JMP Securities reissued a “market outperform” rating and issued a $270.00 price target on shares of Zscaler in a research note on Monday, November 4th. Finally, Loop Capital dropped their price objective on Zscaler from $180.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.13.

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.