Brooklyn Investment Group Purchases Shares of 640 Zscaler, Inc. (NASDAQ:ZS)

Brooklyn Investment Group acquired a new position in Zscaler, Inc. (NASDAQ:ZS) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 640 shares of the company’s stock, valued at approximately $109,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quest Partners LLC purchased a new position in Zscaler during the 2nd quarter worth approximately $28,000. Asset Dedication LLC lifted its position in Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after purchasing an additional 166 shares during the period. American Capital Advisory LLC acquired a new position in Zscaler during the second quarter valued at $50,000. GAMMA Investing LLC grew its position in Zscaler by 21.3% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after purchasing an additional 67 shares during the period. Finally, Quarry LP raised its stake in shares of Zscaler by 613.0% during the 2nd quarter. Quarry LP now owns 385 shares of the company’s stock valued at $74,000 after buying an additional 331 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insider Activity

In other Zscaler news, CFO Remo Canessa sold 8,455 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the sale, the chief financial officer now directly owns 231,793 shares in the company, valued at $39,701,505.04. This represents a 3.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was 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 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,502 shares of company stock valued at $5,256,651. 19.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ZS. Bank of America downgraded Zscaler from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $265.00 to $195.00 in a research note on Wednesday, September 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Zscaler in a research note on Wednesday, September 4th. Citigroup dropped their price target on shares of Zscaler from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Wedbush decreased their price objective on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. cut their price target on Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, September 4th. Ten investment 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $220.29.

Zscaler Stock Down 2.5 %

NASDAQ ZS opened at $204.96 on Thursday. The firm’s 50-day moving average is $188.06 and its two-hundred day moving average is $184.21. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The firm had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. During the same period in the prior year, the business posted ($0.17) EPS. The business’s revenue for the quarter was up 30.3% compared to the same quarter last year. On average, equities analysts anticipate that Zscaler, Inc. will post -0.95 EPS for the current year.

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.