Benjamin Edwards Inc. Purchases Shares of 2,628 Zscaler, Inc. (NASDAQ:ZS)

Benjamin Edwards Inc. purchased a new position in Zscaler, Inc. (NASDAQ:ZS - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,628 shares of the company's stock, valued at approximately $449,000.

Several other institutional investors have also recently bought and sold shares of ZS. Paloma Partners Management Co bought a new stake in Zscaler in the 3rd quarter worth approximately $1,291,000. Point72 Hong Kong Ltd increased its stake in Zscaler by 1,118.3% during the 3rd quarter. Point72 Hong Kong Ltd now owns 18,311 shares of the company's stock valued at $3,130,000 after purchasing an additional 16,808 shares in the last quarter. Erste Asset Management GmbH purchased a new position in Zscaler in the 3rd quarter worth approximately $1,670,000. True Wealth Design LLC lifted its holdings in shares of Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company's stock valued at $32,000 after purchasing an additional 185 shares in the last quarter. Finally, Fred Alger Management LLC lifted its stake in Zscaler by 1,151.0% during the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company's stock valued at $1,773,000 after acquiring an additional 9,542 shares during the period. Institutional investors and hedge funds own 46.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ZS. Bank of America cut Zscaler from a "buy" rating to a "neutral" rating and cut their target price for the stock from $265.00 to $195.00 in a research report on Wednesday, September 4th. Royal Bank of Canada restated an "outperform" rating and set a $230.00 price objective on shares of Zscaler in a research report on Tuesday, December 3rd. Barclays boosted their price objective on shares of Zscaler from $200.00 to $220.00 and gave the company an "overweight" rating in a research report on Thursday, November 21st. Piper Sandler raised their target price on shares of Zscaler from $215.00 to $235.00 and gave the stock an "overweight" rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company raised their price objective on shares of Zscaler from $180.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Wednesday, December 4th. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $224.84.

Insider Buying and Selling

In other Zscaler news, Director Andrew William Fraser Brown sold 8,000 shares of the business'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 transaction, the director now directly owns 25,907 shares of the company's stock, valued at approximately $4,510,408.70. The trade was a 23.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the sale, the insider now directly owns 105,806 shares in the company, valued at approximately $19,224,950.20. The trade was a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $5,256,651 in the last quarter. 18.10% of the stock is owned by insiders.

Zscaler Stock Down 2.8 %

NASDAQ ZS traded down $5.86 on Monday, hitting $206.13. 2,026,517 shares of the stock were exchanged, compared to its average volume of 2,059,326. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The company has a 50-day moving average price of $194.18 and a 200-day moving average price of $186.04. The company has a market cap of $31.63 billion, a PE ratio of -824.52 and a beta of 0.82.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.14. The business had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business's quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.18) EPS. As a group, equities research analysts predict that Zscaler, Inc. will post -0.31 EPS for the current fiscal year.

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.