Hennion & Walsh Asset Management Inc. Increases Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Hennion & Walsh Asset Management Inc. boosted its stake in Zscaler, Inc. (NASDAQ:ZS) by 10.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,304 shares of the company’s stock after purchasing an additional 1,169 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Zscaler were worth $2,220,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ZS. Quest Partners LLC purchased a new stake in shares of Zscaler during the 2nd quarter valued at about $28,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Zscaler during the 3rd quarter valued at about $31,000. True Wealth Design LLC raised its position in shares of Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after buying an additional 185 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Zscaler by 136.8% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. Finally, Modus Advisors LLC purchased a new stake in shares of Zscaler during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Buying and Selling at Zscaler

In other news, CFO Remo Canessa sold 3,703 shares of Zscaler stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $741,784.96. Following the sale, the chief financial officer now owns 220,635 shares in the company, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Syam Nair sold 3,682 shares of Zscaler stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $737,578.24. Following the completion of the sale, the insider now owns 142,866 shares in the company, valued at approximately $28,618,917.12. This trade represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,248 shares of company stock valued at $2,052,879. Corporate insiders own 18.10% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ZS. Piper Sandler upped their target price on shares of Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Canaccord Genuity Group increased their price objective on shares of Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price objective on shares of Zscaler in a research report on Tuesday, December 3rd. JMP Securities reissued a “market outperform” rating and issued a $240.00 price objective (down from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. Finally, Loop Capital reduced their price objective on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a research report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $224.84.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $187.58 on Friday. The stock has a market capitalization of $28.78 billion, a price-to-earnings ratio of -750.32 and a beta of 0.87. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $259.61. The firm’s 50 day simple moving average is $196.44 and its 200-day simple moving average is $188.12.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data 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. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The company had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. During the same quarter in the previous year, the company earned ($0.18) earnings per share. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. Analysts anticipate that Zscaler, Inc. will post -0.16 earnings per share 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.