Zscaler, Inc. (NASDAQ:ZS) Stock Holdings Boosted by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC raised its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 250.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,500 shares of the company's stock after purchasing an additional 15,368 shares during the period. Thoroughbred Financial Services LLC's holdings in Zscaler were worth $4,132,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. 1832 Asset Management L.P. acquired a new position in Zscaler in the 4th quarter valued at about $217,683,000. Norges Bank purchased a new position in shares of Zscaler during the fourth quarter valued at approximately $117,599,000. Quadrature Capital Ltd acquired a new stake in Zscaler during the first quarter worth approximately $47,217,000. Vanguard Group Inc. grew its stake in Zscaler by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 8,843,772 shares of the company's stock worth $1,959,426,000 after acquiring an additional 206,908 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new position in Zscaler in the 1st quarter valued at $27,954,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ZS. Wedbush lowered their price objective on Zscaler from $260.00 to $220.00 and set an "outperform" rating for the company in a research report on Wednesday, September 4th. Wells Fargo & Company dropped their price objective on shares of Zscaler from $182.00 to $180.00 and set an "equal weight" rating for the company in a research note on Wednesday, September 4th. Canaccord Genuity Group decreased their target price on shares of Zscaler from $260.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, June 4th. Susquehanna reaffirmed a "positive" rating and set a $210.00 price target on shares of Zscaler in a research report on Thursday, September 5th. Finally, Piper Sandler decreased their price target on shares of Zscaler from $255.00 to $215.00 and set an "overweight" rating on the stock in a report on Wednesday, September 4th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $218.39.

Insider Activity

In other Zscaler news, CFO Remo Canessa sold 7,981 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the sale, the chief financial officer now directly owns 243,486 shares of the company's stock, valued at $43,148,154.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 19.20% of the company's stock.

Zscaler Stock Up 2.0 %

ZS traded up $3.35 during trading on Friday, hitting $170.06. The company had a trading volume of 1,992,238 shares, compared to its average volume of 2,381,753. The company has a market cap of $25.70 billion, a PE ratio of -333.45 and a beta of 0.82. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.75 and a quick ratio of 1.75. Zscaler, Inc. has a 1-year low of $146.59 and a 1-year high of $259.61. The business has a 50-day moving average of $184.05 and a 200-day moving average of $184.81.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.18. The business had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.75%. The company's revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.17) EPS. As a group, analysts forecast that Zscaler, Inc. will post -0.92 earnings per share for the current year.

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.