Garrison Asset Management LLC Has $1.77 Million Position in Zscaler, Inc. (NASDAQ:ZS)

Garrison Asset Management LLC raised its stake in Zscaler, Inc. (NASDAQ:ZS) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,225 shares of the company’s stock after acquiring an additional 174 shares during the period. Garrison Asset Management LLC’s holdings in Zscaler were worth $1,773,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Diversify Wealth Management LLC acquired a new position in shares of Zscaler in the 2nd quarter valued at approximately $2,924,000. J.W. Cole Advisors Inc. acquired a new position in Zscaler during the second quarter valued at approximately $227,000. Leelyn Smith LLC lifted its stake in Zscaler by 3.7% during the second quarter. Leelyn Smith LLC now owns 4,925 shares of the company’s stock worth $947,000 after purchasing an additional 176 shares during the last quarter. Thoroughbred Financial Services LLC boosted its holdings in shares of Zscaler by 250.6% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 21,500 shares of the company’s stock valued at $4,132,000 after purchasing an additional 15,368 shares in the last quarter. Finally, CoreCap Advisors LLC bought a new position in shares of Zscaler in the 2nd quarter valued at $307,000. 46.45% of the stock is currently owned by institutional investors.

Insider Activity at Zscaler

In other news, CFO Remo Canessa sold 4,689 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $180.93, for a total transaction of $848,380.77. Following the transaction, the chief financial officer now directly owns 251,467 shares of the company’s stock, valued at $45,497,924.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 19.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on ZS shares. JPMorgan Chase & Co. dropped their price objective on Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Rosenblatt Securities restated a “neutral” rating and issued a $190.00 price target on shares of Zscaler in a research note on Wednesday, September 4th. Wedbush lowered their price objective on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Robert W. Baird decreased their target price on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Finally, UBS Group dropped their price target on Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Zscaler presently has an average rating of “Moderate Buy” and a consensus target price of $218.39.

Zscaler Stock Performance

Shares of ZS stock opened at $170.06 on Friday. The firm has a 50 day moving average of $184.05 and a 200-day moving average of $184.81. The company has a market cap of $25.70 billion, a price-to-earnings ratio of -333.45 and a beta of 0.82. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. Zscaler, Inc. has a 52 week low of $146.59 and a 52 week high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.75%. The business had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same period last year, the company posted ($0.17) earnings per share. The business’s quarterly revenue was up 30.3% on a year-over-year basis. On average, equities 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.