Seven Eight Capital LP Buys 2,088 Shares of Zscaler, Inc. (NASDAQ:ZS)

Seven Eight Capital LP raised its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 145.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,523 shares of the company’s stock after acquiring an additional 2,088 shares during the quarter. Seven Eight Capital LP’s holdings in Zscaler were worth $679,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new stake in shares of Zscaler in the fourth quarter valued at approximately $29,000. Parkside Financial Bank & Trust lifted its stake in shares of Zscaler by 582.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 157 shares of the company’s stock valued at $35,000 after purchasing an additional 134 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Zscaler in the 4th quarter valued at $37,000. Quadrant Capital Group LLC raised its holdings in shares of Zscaler by 66.7% in the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after buying an additional 70 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Zscaler by 109.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 209 shares of the company’s stock worth $46,000 after purchasing an additional 109 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Scotiabank decreased their target price on Zscaler from $250.00 to $210.00 and set a “sector outperform” rating for the company in a research report on Friday, May 31st. Robert W. Baird dropped their price objective on Zscaler from $265.00 to $260.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. 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 report on Friday, May 31st. UBS Group decreased their price objective on Zscaler from $300.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. Finally, Truist Financial restated a “buy” rating and set a $260.00 price objective on shares of Zscaler in a report on Monday, April 1st. Eight analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and an average price target of $225.21.

Insider Transactions at Zscaler

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

Zscaler Stock Up 1.4 %

NASDAQ:ZS traded up $2.66 during trading hours on Tuesday, hitting $191.07. 1,293,063 shares of the stock traded hands, compared to its average volume of 2,218,109. The firm has a 50 day moving average price of $184.27 and a 200 day moving average price of $199.95. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04. Zscaler, Inc. has a fifty-two week low of $131.59 and a fifty-two week high of $259.61. The firm has a market cap of $28.88 billion, a price-to-earnings ratio of -374.65 and a beta of 0.84.

Zscaler (NASDAQ:ZS) last announced its earnings results on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.39. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The company had revenue of $553.20 million for the quarter, compared to the consensus estimate of $535.55 million. Equities research analysts anticipate that Zscaler, Inc. will post -0.34 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.