EFG Asset Management Americas Corp. Increases Holdings in Zscaler, Inc. (NASDAQ:ZS)

EFG Asset Management Americas Corp. raised its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 68.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,322 shares of the company’s stock after buying an additional 4,602 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Zscaler were worth $2,176,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new stake in Zscaler during the fourth quarter worth about $29,000. Quadrant Capital Group LLC lifted its stake in Zscaler by 66.7% during the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after purchasing an additional 70 shares during the last quarter. American Capital Advisory LLC bought a new stake in Zscaler during the second quarter worth about $50,000. Spire Wealth Management lifted its stake in Zscaler by 24.5% during the fourth quarter. Spire Wealth Management now owns 249 shares of the company’s stock worth $58,000 after purchasing an additional 49 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Zscaler by 103.2% during the first quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $61,000 after purchasing an additional 160 shares during the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ZS. Oppenheimer lowered their target price on Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a research note on Wednesday. JMP Securities reissued a “market outperform” rating and issued a $270.00 target price on shares of Zscaler in a research note on Wednesday. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 target price on shares of Zscaler in a research note on Wednesday. BMO Capital Markets lowered their target price on Zscaler from $208.00 to $197.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Robert W. Baird lowered their target price on Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Zscaler presently has an average rating of “Moderate Buy” and an average target price of $218.39.

Zscaler Stock Down 3.4 %

ZS stock traded down $5.47 during midday trading on Friday, hitting $156.78. The company’s stock had a trading volume of 3,611,304 shares, compared to its average volume of 2,158,734. The company has a market cap of $23.70 billion, a PE ratio of -307.41 and a beta of 0.82. Zscaler, Inc. has a 12 month low of $146.59 and a 12 month high of $259.61. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04. The firm’s 50-day moving average is $187.65 and its 200-day moving average is $187.65.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.18. Zscaler had a negative return on equity of 3.75% and a negative net margin of 2.66%. The firm had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. During the same period in the prior year, the firm earned ($0.17) EPS. The company’s revenue was up 30.3% compared to the same quarter last year. On average, equities research analysts forecast that Zscaler, Inc. will post -0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Remo Canessa sold 7,981 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the completion of the transaction, the chief financial officer now owns 243,486 shares in the company, valued at $43,148,154.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 19.20% of the stock is currently owned by company insiders.

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.