Lmcg Investments LLC Buys Shares of 7,481 Zscaler, Inc. (NASDAQ:ZS)

Lmcg Investments LLC purchased a new position in shares of Zscaler, Inc. (NASDAQ:ZS) during the second quarter, HoldingsChannel reports. The fund purchased 7,481 shares of the company’s stock, valued at approximately $1,438,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. 1832 Asset Management L.P. bought a new stake in Zscaler during the 4th quarter worth approximately $217,683,000. Norges Bank acquired a new stake in shares of Zscaler during the fourth quarter worth $117,599,000. Quadrature Capital Ltd bought a new stake in Zscaler in the 1st quarter valued at $47,217,000. Vanguard Group Inc. boosted 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 purchasing an additional 206,908 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new position in Zscaler during the 1st quarter worth about $27,954,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Analysts Set New Price Targets

ZS has been the subject of several recent research reports. Morgan Stanley upped their price objective on Zscaler from $202.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. Susquehanna reaffirmed a “positive” rating and set a $210.00 price target on shares of Zscaler in a research report on Thursday, September 5th. BMO Capital Markets lowered their price target on shares of Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Bank of America downgraded Zscaler from a “buy” rating to a “neutral” rating and lowered their target price for the company from $265.00 to $195.00 in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. reduced their price target on Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $218.39.

Zscaler Price Performance

NASDAQ ZS opened at $170.32 on Wednesday. Zscaler, Inc. has a 12-month low of $146.59 and a 12-month high of $259.61. The firm has a 50-day moving average price of $183.45 and a two-hundred day moving average price of $183.94.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $592.90 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company earned ($0.17) EPS. On average, research analysts predict that Zscaler, Inc. will post -0.92 EPS for the current year.

Insider Activity at Zscaler

In other Zscaler news, CFO Remo Canessa sold 7,981 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.21, for a total value of $1,414,313.01. Following the transaction, the chief financial officer now directly owns 243,486 shares of the company’s stock, valued at approximately $43,148,154.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 19.20% of the stock is owned by insiders.

Zscaler Company 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.