Princeton Capital Management LLC grew its position in shares of Zscaler, Inc. (NASDAQ:ZS – Free Report) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,739 shares of the company’s stock after acquiring an additional 729 shares during the quarter. Zscaler comprises 1.3% of Princeton Capital Management LLC’s portfolio, making the stock its 17th biggest position. Princeton Capital Management LLC’s holdings in Zscaler were worth $4,058,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ZS. Quest Partners LLC purchased a new position in Zscaler in the second quarter valued at about $28,000. Asset Dedication LLC boosted its holdings in Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after purchasing an additional 166 shares during the last quarter. American Capital Advisory LLC purchased a new position in Zscaler in the second quarter valued at about $50,000. GAMMA Investing LLC boosted its holdings in Zscaler by 21.3% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after purchasing an additional 67 shares during the last quarter. Finally, Quarry LP boosted its holdings in Zscaler by 613.0% in the second quarter. Quarry LP now owns 385 shares of the company’s stock valued at $74,000 after purchasing an additional 331 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other Zscaler news, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the sale, the director now directly owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. The trade was a 23.59 % 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. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. The trade was a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,502 shares of company stock valued at $5,256,651. 19.20% of the stock is owned by insiders.
Zscaler Trading Up 0.7 %
Zscaler (NASDAQ:ZS – Get Free Report) last posted its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. During the same period last year, the company earned ($0.17) earnings per share. The business’s revenue was up 30.3% compared to the same quarter last year. Analysts expect that Zscaler, Inc. will post -0.97 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on ZS shares. Robert W. Baird cut their price objective on Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Scotiabank cut their price objective on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, September 4th. Cantor Fitzgerald cut their price objective on Zscaler from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Morgan Stanley upped their price objective on Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a research note on Monday, August 26th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $190.00 price target on shares of Zscaler in a research report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $217.18.
Read Our Latest Research Report on ZS
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.
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