Alpha Cubed Investments LLC Makes New Investment in Zscaler, Inc. (NASDAQ:ZS)

Alpha Cubed Investments LLC purchased a new stake in Zscaler, Inc. (NASDAQ:ZS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 925 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Zscaler by 1.5% during the third quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock valued at $1,343,810,000 after purchasing an additional 129,090 shares in the last quarter. Northern Trust Corp grew its position in shares of Zscaler by 5.6% in the 3rd quarter. Northern Trust Corp now owns 556,446 shares of the company’s stock worth $86,577,000 after buying an additional 29,405 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Zscaler by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 512,094 shares of the company’s stock worth $79,677,000 after acquiring an additional 6,821 shares in the last quarter. Polar Capital Holdings Plc purchased a new stake in Zscaler during the third quarter valued at approximately $61,681,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Zscaler by 10.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 302,326 shares of the company’s stock valued at $66,984,000 after acquiring an additional 27,947 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Transactions at Zscaler

In other news, insider Syam Nair sold 2,893 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 $558,782.95. Following the completion of the sale, the insider now owns 137,294 shares in the company, valued at $26,518,336.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Zscaler news, insider Syam Nair sold 2,893 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $558,782.95. Following the sale, the insider now directly owns 137,294 shares in the company, valued at approximately $26,518,336.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Remo Canessa sold 7,707 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $1,488,607.05. Following the completion of the sale, the chief financial officer now owns 255,943 shares in the company, valued at $49,435,390.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,715 shares of company stock worth $4,212,202. Corporate insiders own 19.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. The Goldman Sachs Group raised their price target on Zscaler from $189.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $230.00 target price on shares of Zscaler in a research note on Wednesday, April 17th. Wedbush upped their price target on shares of Zscaler from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. lifted their price objective on shares of Zscaler from $212.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Finally, Morgan Stanley raised 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 research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $230.24.

Zscaler Stock Down 0.4 %

Shares of ZS opened at $172.31 on Thursday. The firm’s 50 day moving average price is $195.51 and its 200 day moving average price is $203.77. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19. Zscaler, Inc. has a fifty-two week low of $84.93 and a fifty-two week high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.08. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. The company had revenue of $525.00 million during the quarter, compared to analysts’ expectations of $507.56 million. As a group, analysts predict that Zscaler, Inc. will post -0.8 EPS 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.