KCM Investment Advisors LLC Buys New Shares in Zscaler, Inc. (NASDAQ:ZS)

KCM Investment Advisors LLC purchased a new stake in Zscaler, Inc. (NASDAQ:ZS) during the third quarter, according to its most recent filing with the SEC. The fund purchased 2,180 shares of the company’s stock, valued at approximately $373,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Oppenheimer & Co. Inc. boosted its stake in shares of Zscaler by 21.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 1,587 shares of the company’s stock worth $306,000 after purchasing an additional 285 shares during the period. Avantax Advisory Services Inc. raised its stake in shares of Zscaler by 2.9% during the 1st quarter. Avantax Advisory Services Inc. now owns 4,462 shares of the company’s stock worth $859,000 after acquiring an additional 124 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Zscaler by 6.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company’s stock worth $20,021,000 after acquiring an additional 6,683 shares in the last quarter. Banco Santander S.A. bought a new position in shares of Zscaler during the 1st quarter worth approximately $1,901,000. Finally, M&G Plc acquired a new position in Zscaler during the 1st quarter valued at approximately $7,786,000. 46.45% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Zscaler news, insider Michael J. Rich sold 4,813 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 transaction of $824,370.64. Following the transaction, the insider now directly owns 103,259 shares of the company’s stock, valued at $17,686,201.52. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction of $488,490.56. Following the sale, the chief executive officer now owns 361,432 shares in the company, valued at $61,906,072.96. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,502 shares of company stock worth $5,256,651. Corporate insiders own 19.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ZS. Bank of America lowered shares of Zscaler from a “buy” rating to a “neutral” rating and cut their price target for the company from $265.00 to $195.00 in a research note on Wednesday, September 4th. Loop Capital cut their price objective on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. UBS Group cut their price objective on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Raymond James assumed coverage on shares of Zscaler in a research note on Tuesday, July 23rd. They issued a “market perform” rating on the stock. Finally, Stifel Nicolaus increased their price target on shares of Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday. Ten investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $217.18.

Zscaler Stock Down 3.4 %

Shares of Zscaler stock opened at $201.47 on Friday. The company has a market capitalization of $30.72 billion, a P/E ratio of -503.66 and a beta of 0.82. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $259.61. The company has a 50 day moving average of $182.23 and a 200 day moving average of $182.52.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.09. The business had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The company’s revenue was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.17) EPS. As a group, research analysts anticipate that Zscaler, Inc. will post -0.95 earnings per share for the current fiscal year.

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.