Zscaler, Inc. (NASDAQ:ZS) Shares Acquired by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. grew its stake in Zscaler, Inc. (NASDAQ:ZS) by 134.3% during the fourth quarter, HoldingsChannel reports. The firm owned 20,537 shares of the company’s stock after purchasing an additional 11,770 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Zscaler were worth $4,550,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of ZS. CWM LLC increased its holdings in shares of Zscaler by 13.8% in the third quarter. CWM LLC now owns 637 shares of the company’s stock valued at $99,000 after purchasing an additional 77 shares during the period. Handelsbanken Fonder AB grew its holdings in Zscaler by 4.2% during the third quarter. Handelsbanken Fonder AB now owns 22,115 shares of the company’s stock worth $3,441,000 after acquiring an additional 890 shares during the period. Linden Thomas Advisory Services LLC acquired a new position in Zscaler during the third quarter worth $904,000. Harbor Capital Advisors Inc. grew its holdings in Zscaler by 95.9% during the third quarter. Harbor Capital Advisors Inc. now owns 4,000 shares of the company’s stock worth $622,000 after acquiring an additional 1,958 shares during the period. Finally, Commonwealth Equity Services LLC grew its holdings in Zscaler by 17.0% during the third quarter. Commonwealth Equity Services LLC now owns 39,070 shares of the company’s stock worth $6,079,000 after acquiring an additional 5,679 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ZS. BMO Capital Markets dropped their price objective on Zscaler from $268.00 to $255.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Rosenblatt Securities upped their price objective on Zscaler from $285.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Oppenheimer upped their price objective on Zscaler from $245.00 to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. KeyCorp raised Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 target price on the stock in a report on Thursday, April 18th. Finally, Wedbush upped their target price on Zscaler from $250.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Five investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.24.

Zscaler Stock Performance

NASDAQ ZS opened at $177.05 on Friday. The business’s 50-day moving average price is $198.51 and its 200 day moving average price is $203.25. Zscaler, Inc. has a twelve month low of $84.93 and a twelve month high of $259.61. The company has a market capitalization of $26.54 billion, a PE ratio of -186.37 and a beta of 0.80. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.19.

Zscaler (NASDAQ:ZS) last released its earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.08. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. The firm had revenue of $525.00 million for the quarter, compared to the consensus estimate of $507.56 million. On average, research analysts predict that Zscaler, Inc. will post -0.8 earnings per share for the current year.

Insider Buying and Selling

In other Zscaler news, Director Karen Blasing sold 7,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $250.90, for a total transaction of $1,756,300.00. Following the completion of the sale, the director now directly owns 40,372 shares in the company, valued at $10,129,334.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zscaler news, Director Karen Blasing sold 7,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $250.90, for a total transaction of $1,756,300.00. Following the completion of the sale, the director now directly owns 40,372 shares in the company, valued at $10,129,334.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the sale, the chief executive officer now owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,715 shares of company stock worth $5,865,882. 19.20% of the stock is owned by company 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.