RWA Wealth Partners LLC Makes New $217,000 Investment in Zscaler, Inc. (NASDAQ:ZS)

RWA Wealth Partners LLC purchased a new position in shares of Zscaler, Inc. (NASDAQ:ZS) during the fourth quarter, HoldingsChannel reports. The firm purchased 981 shares of the company’s stock, valued at approximately $217,000.

A number of other institutional investors have also recently bought and sold shares of the business. CWM LLC grew its position 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 last quarter. Handelsbanken Fonder AB boosted its stake in shares of Zscaler by 4.2% in the third quarter. Handelsbanken Fonder AB now owns 22,115 shares of the company’s stock valued at $3,441,000 after buying an additional 890 shares during the period. Linden Thomas Advisory Services LLC bought a new stake in shares of Zscaler in the third quarter valued at approximately $904,000. Harbor Capital Advisors Inc. boosted its stake in shares of Zscaler by 95.9% in the third quarter. Harbor Capital Advisors Inc. now owns 4,000 shares of the company’s stock valued at $622,000 after buying an additional 1,958 shares during the period. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Zscaler by 17.0% in the third quarter. Commonwealth Equity Services LLC now owns 39,070 shares of the company’s stock valued at $6,079,000 after buying an additional 5,679 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $408,512.25. Following the transaction, the chief executive officer now owns 367,152 shares of the company’s stock, valued at approximately $70,915,408.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $408,512.25. Following the transaction, the chief executive officer now owns 367,152 shares of the company’s stock, valued at approximately $70,915,408.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Syam Nair sold 2,893 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $558,782.95. Following the transaction, the insider now directly owns 137,294 shares in the company, valued at approximately $26,518,336.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,715 shares of company stock worth $5,865,882. Company insiders own 19.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ZS. Barclays cut their price target on Zscaler from $259.00 to $240.00 and set an “overweight” rating for the company in a research note on Friday, March 1st. Macquarie restated an “outperform” rating and set a $245.00 target price on shares of Zscaler in a research note on Tuesday, March 19th. Rosenblatt Securities upped their target price on Zscaler from $285.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. KeyCorp upgraded Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 target price for the company in a research note on Thursday, April 18th. Finally, Morgan Stanley upped their target price on Zscaler from $195.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $230.24.

Zscaler Stock Performance

Shares of Zscaler stock opened at $177.05 on Friday. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.19. The business has a 50-day moving average price of $198.51 and a two-hundred day moving average price of $203.25. Zscaler, Inc. has a 1-year low of $84.93 and a 1-year high of $259.61. The company has a market cap of $26.54 billion, a P/E ratio of -186.37 and a beta of 0.80.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $507.56 million. As a group, analysts anticipate that Zscaler, Inc. will post -0.8 EPS for the current year.

Zscaler 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.