BNC Wealth Management LLC Takes Position in Zscaler, Inc. (NASDAQ:ZS)

BNC Wealth Management LLC bought a new stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 3,382 shares of the company's stock, valued at approximately $578,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ZS. Quest Partners LLC bought a new stake in shares of Zscaler during the 2nd quarter valued at $28,000. Asset Dedication LLC increased its position in shares of Zscaler by 436.8% in the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company's stock valued at $39,000 after buying an additional 166 shares in the last quarter. American Capital Advisory LLC bought a new stake in shares of Zscaler in the 2nd quarter valued at $50,000. GAMMA Investing LLC increased its position in shares of Zscaler by 21.3% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company's stock valued at $73,000 after buying an additional 67 shares in the last quarter. Finally, Quarry LP increased its position in shares of Zscaler by 613.0% in the 2nd quarter. Quarry LP now owns 385 shares of the company's stock valued at $74,000 after buying an additional 331 shares in the last quarter. Institutional investors own 46.45% of the company's stock.

Zscaler Price Performance

ZS stock traded up $2.90 during midday trading on Thursday, reaching $195.93. The company had a trading volume of 510,034 shares, compared to its average volume of 2,034,596. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $259.61. The stock has a 50 day moving average price of $179.15 and a 200-day moving average price of $181.24. The company has a market capitalization of $29.88 billion, a price-to-earnings ratio of -482.56 and a beta of 0.82.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.09. The firm had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company's revenue 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, research analysts anticipate that Zscaler, Inc. will post -0.95 earnings per share for the current year.

Insider Transactions at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the transaction, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was 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 in the company, valued at $4,510,408.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 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 $488,490.56. Following the transaction, the chief executive officer now directly owns 361,432 shares of the company's stock, valued at approximately $61,906,072.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,502 shares of company stock worth $5,256,651. Corporate insiders own 19.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ZS. BMO Capital Markets lowered their price objective on shares of Zscaler from $208.00 to $197.00 and set an "outperform" rating for the company in a research report on Wednesday, September 4th. Morgan Stanley upped their target price on shares of Zscaler from $202.00 to $215.00 and gave the stock an "equal weight" rating in a research note on Monday, August 26th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $190.00 target price on shares of Zscaler in a research note on Wednesday, September 4th. Wedbush reduced their target price on shares of Zscaler from $260.00 to $220.00 and set an "outperform" rating for the company in a research note on Wednesday, September 4th. Finally, Robert W. Baird reduced their target price on shares of Zscaler from $260.00 to $225.00 and set an "outperform" rating for the company in a research note on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $216.73.

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.