Washington Harbour Partners LP Invests $1.97 Million in Zscaler, Inc. (NASDAQ:ZS)

Washington Harbour Partners LP bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 11,500 shares of the company's stock, valued at approximately $1,966,000. Zscaler makes up approximately 3.5% of Washington Harbour Partners LP's portfolio, making the stock its 13th biggest position.

A number of other institutional investors have also recently modified their holdings of the business. Quest Partners LLC purchased a new position in Zscaler in the 2nd quarter valued at $28,000. True Wealth Design LLC boosted its position in Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company's stock worth $32,000 after acquiring an additional 185 shares during the last quarter. Asset Dedication LLC grew its stake in Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company's stock valued at $39,000 after acquiring an additional 166 shares in the last quarter. American Capital Advisory LLC acquired a new stake in Zscaler in the 2nd quarter valued at about $50,000. Finally, GAMMA Investing LLC lifted its stake in Zscaler by 21.3% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company's stock worth $73,000 after purchasing an additional 67 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Price Performance

Shares of ZS traded up $6.38 during midday trading on Friday, reaching $211.99. 2,456,109 shares of the stock were exchanged, compared to its average volume of 2,056,561. The company has a market capitalization of $32.53 billion, a price-to-earnings ratio of -822.44 and a beta of 0.82. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $259.61. The business's 50-day moving average price is $192.67 and its 200 day moving average price is $185.44.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.14. The firm had revenue of $628.00 million during the quarter, compared to analysts' expectations of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.80%. Zscaler's quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.18) EPS. As a group, equities research analysts expect that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zscaler news, insider Robert Schlossman sold 1,435 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the transaction, the insider now owns 105,806 shares in the company, valued at approximately $19,224,950.20. This represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrew William Fraser Brown sold 8,000 shares of the firm's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the sale, the director now directly owns 25,907 shares of the company's stock, valued at approximately $4,510,408.70. This trade represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock valued at $5,256,651 over the last three months. 18.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wedbush cut their price target on Zscaler from $260.00 to $220.00 and set an "outperform" rating for the company in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lifted their price target on Zscaler from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Tuesday. Bank of America lowered shares of Zscaler from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $265.00 to $195.00 in a report on Wednesday, September 4th. BNP Paribas assumed coverage on shares of Zscaler in a report on Tuesday, October 8th. They issued a "neutral" rating and a $180.00 target price on the stock. Finally, Loop Capital cut their price target on shares of Zscaler from $200.00 to $195.00 and set a "hold" rating for the company in a report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $224.84.

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.