Prestige Wealth Management Group LLC Acquires Shares of 180 Zscaler, Inc. (NASDAQ:ZS)

Prestige Wealth Management Group LLC acquired a new stake in Zscaler, Inc. (NASDAQ:ZS) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 180 shares of the company’s stock, valued at approximately $31,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fred Alger Management LLC grew its position in shares of Zscaler by 1,151.0% during the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock worth $1,773,000 after buying an additional 9,542 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Zscaler by 7.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock worth $37,495,000 after buying an additional 14,701 shares during the period. Creative Planning grew its position in shares of Zscaler by 7.6% during the 3rd quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after buying an additional 10,551 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Zscaler during the 2nd quarter worth approximately $25,287,000. Finally, Strategic Advisors LLC grew its position in shares of Zscaler by 470.0% during the 3rd quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock worth $1,391,000 after buying an additional 6,712 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $230.00 price objective on shares of Zscaler in a research note on Tuesday, December 3rd. BNP Paribas initiated coverage on shares of Zscaler in a research note on Tuesday, October 8th. They set a “neutral” rating and a $180.00 price objective on the stock. JMP Securities reiterated a “market outperform” rating and issued a $240.00 price target (down previously from $270.00) on shares of Zscaler in a report on Tuesday, December 3rd. Finally, Cantor Fitzgerald upgraded shares of Zscaler to a “hold” rating in a report on Monday, November 18th. Eleven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $224.84.

Zscaler Stock Performance

ZS stock opened at $201.39 on Wednesday. The company’s 50-day simple moving average is $194.86 and its 200 day simple moving average is $186.25. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $259.61. The company has a market capitalization of $30.90 billion, a PE ratio of -805.56 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The firm had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.18) earnings per share. On average, analysts forecast that Zscaler, Inc. will post -0.31 EPS for the current year.

Insider Activity

In other Zscaler news, CFO Remo Canessa sold 8,455 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the completion of the transaction, the chief financial officer now owns 231,793 shares in the company, valued at approximately $39,701,505.04. This trade represents a 3.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Schlossman sold 4,947 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the transaction, the insider now owns 107,241 shares of the company’s stock, valued at approximately $18,254,563.02. The trade was a 4.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,502 shares of company stock worth $5,256,651. Corporate insiders own 18.10% of the company’s stock.

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.