Whalen Wealth Management Inc. Acquires New Shares in Zscaler, Inc. (NASDAQ:ZS)

Whalen Wealth Management Inc. purchased a new stake in Zscaler, Inc. (NASDAQ:ZS) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 2,466 shares of the company’s stock, valued at approximately $474,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new stake in Zscaler in the 4th quarter worth approximately $29,000. Quadrant Capital Group LLC grew its position in shares of Zscaler by 66.7% during the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after purchasing an additional 70 shares in the last quarter. American Capital Advisory LLC purchased a new stake in shares of Zscaler in the second quarter worth $50,000. Spire Wealth Management boosted its stake in Zscaler by 24.5% during the fourth quarter. Spire Wealth Management now owns 249 shares of the company’s stock valued at $58,000 after buying an additional 49 shares during the period. Finally, GAMMA Investing LLC grew its position in Zscaler by 103.2% during the first quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $61,000 after buying an additional 160 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of Zscaler from $270.00 to $220.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. Scotiabank dropped their price objective on Zscaler from $250.00 to $210.00 and set a “sector outperform” rating for the company in a research note on Friday, May 31st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $200.00 price objective on shares of Zscaler in a research note on Monday, August 19th. Sanford C. Bernstein dropped their price target on Zscaler from $280.00 to $270.00 and set an “outperform” rating for the company in a research note on Friday, May 31st. Finally, UBS Group lowered their price objective on shares of Zscaler from $300.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, May 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $226.18.

Insiders Place Their Bets

In related news, CFO Remo Canessa sold 7,981 shares of Zscaler stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the transaction, the chief financial officer now directly owns 243,486 shares in the company, valued at $43,148,154.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 19.20% of the company’s stock.

Zscaler Stock Performance

Shares of NASDAQ:ZS traded down $0.28 during trading on Tuesday, hitting $199.70. The company’s stock had a trading volume of 206,735 shares, compared to its average volume of 2,055,840. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.75 and a quick ratio of 1.75. The firm has a market cap of $30.18 billion, a price-to-earnings ratio of -392.12 and a beta of 0.82. The company has a 50-day moving average of $189.12 and a 200-day moving average of $189.14. Zscaler, Inc. has a 12 month low of $146.59 and a 12 month high of $259.61.

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.