Lmcg Investments LLC Acquires New Holdings in Zscaler, Inc. (NASDAQ:ZS)

Lmcg Investments LLC bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,481 shares of the company’s stock, valued at approximately $1,438,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Quest Partners LLC bought a new position in shares of Zscaler in the second quarter worth about $28,000. Jones Financial Companies Lllp bought a new position in Zscaler in the 4th quarter worth approximately $29,000. Quadrant Capital Group LLC increased its position in Zscaler by 66.7% in the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after buying an additional 70 shares during the period. Asset Dedication LLC lifted its holdings in shares of Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after buying an additional 166 shares during the last quarter. Finally, American Capital Advisory LLC bought a new stake in shares of Zscaler in the second quarter valued at approximately $50,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ZS shares. JPMorgan Chase & Co. cut their target price on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, September 4th. JMP Securities reaffirmed a “market outperform” rating and set a $270.00 price objective on shares of Zscaler in a research report on Wednesday, September 4th. Wedbush decreased their target price on Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. UBS Group cut their price target on Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. Finally, Wells Fargo & Company decreased their price objective on Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $218.39.

Insider Activity at Zscaler

In other Zscaler news, CFO Remo Canessa sold 7,981 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the completion of the sale, the chief financial officer now owns 243,486 shares in the company, valued at approximately $43,148,154.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 19.20% of the stock is currently owned by company insiders.

Zscaler Price Performance

NASDAQ ZS opened at $170.32 on Wednesday. Zscaler, Inc. has a 52 week low of $146.59 and a 52 week high of $259.61. The stock has a fifty day moving average of $183.45 and a 200-day moving average of $183.94.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. During the same period last year, the company earned ($0.17) earnings per share. The company’s revenue was up 30.3% on a year-over-year basis. On average, sell-side analysts anticipate that Zscaler, Inc. will post -0.92 earnings per share for the current fiscal 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.