Howe & Rusling Inc. Increases Holdings in Zscaler, Inc. (NASDAQ:ZS)

Howe & Rusling Inc. grew its holdings in Zscaler, Inc. (NASDAQ:ZS) by 8.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 21,270 shares of the company’s stock after acquiring an additional 1,623 shares during the period. Howe & Rusling Inc.’s holdings in Zscaler were worth $3,636,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Commerce Bank boosted its holdings in shares of Zscaler by 8.9% during the 3rd quarter. Commerce Bank now owns 1,564 shares of the company’s stock valued at $267,000 after buying an additional 128 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Zscaler by 4.4% during the third quarter. PNC Financial Services Group Inc. now owns 7,184 shares of the company’s stock worth $1,228,000 after acquiring an additional 306 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Zscaler in the third quarter worth about $4,701,000. Banque Cantonale Vaudoise increased its stake in shares of Zscaler by 40.3% during the third quarter. Banque Cantonale Vaudoise now owns 23,469 shares of the company’s stock valued at $4,012,000 after purchasing an additional 6,736 shares in the last quarter. Finally, SouthState Corp lifted its holdings in shares of Zscaler by 15.1% during the third quarter. SouthState Corp now owns 26,568 shares of the company’s stock valued at $4,542,000 after purchasing an additional 3,487 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on ZS. Susquehanna reissued a “positive” rating and issued a $210.00 target price on shares of Zscaler in a report on Thursday, September 5th. BNP Paribas began coverage on shares of Zscaler in a research report on Tuesday, October 8th. They set a “neutral” rating and a $180.00 price objective on the stock. Bank of America cut shares of Zscaler from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $265.00 to $195.00 in a report on Wednesday, September 4th. Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a research report on Monday. Finally, Stifel Nicolaus upped their price objective on Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and an average target price of $217.18.

Zscaler Stock Up 0.7 %

ZS opened at $204.36 on Wednesday. The company has a market capitalization of $31.16 billion, a PE ratio of -510.89 and a beta of 0.82. The firm has a 50-day simple moving average of $184.08 and a two-hundred day simple moving average of $183.03. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $259.61.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.09. The business had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) EPS. As a group, sell-side analysts expect that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Insider Buying and Selling at Zscaler

In other news, insider Robert Schlossman sold 4,947 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the transaction, the insider now owns 107,241 shares of the company’s stock, valued at approximately $18,254,563.02. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Rich sold 4,813 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $824,370.64. Following the completion of the sale, the insider now owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $5,256,651 over the last 90 days. 19.20% of the stock is owned by insiders.

About Zscaler

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.