Shelton Wealth Management LLC Increases Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Shelton Wealth Management LLC boosted its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 4.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,570 shares of the company’s stock after acquiring an additional 253 shares during the quarter. Shelton Wealth Management LLC’s holdings in Zscaler were worth $1,304,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Merit Financial Group LLC grew its position in shares of Zscaler by 42.0% during the first quarter. Merit Financial Group LLC now owns 6,197 shares of the company’s stock worth $1,230,000 after buying an additional 1,832 shares in the last quarter. Arlington Capital Management Inc. acquired a new stake in shares of Zscaler during the 4th quarter worth about $2,107,000. DnB Asset Management AS lifted its position in shares of Zscaler by 66.8% during the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock worth $120,403,000 after buying an additional 267,162 shares during the last quarter. Norges Bank purchased a new stake in shares of Zscaler during the 4th quarter worth approximately $32,158,000. Finally, Light Street Capital Management LLC purchased a new stake in shares of Zscaler during the 4th quarter worth approximately $5,992,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zscaler

In other news, insider Adam Geller sold 3,662 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $306.72, for a total transaction of $1,123,208.64. Following the sale, the insider now directly owns 46,813 shares in the company, valued at approximately $14,358,483.36. This represents a 7.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew William Fraser Brown sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total value of $2,060,000.00. Following the sale, the director now owns 27,216 shares in the company, valued at $5,606,496. The trade was a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 210,793 shares of company stock valued at $60,812,794. Insiders own 18.10% of the company’s stock.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $305.41 on Friday. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $309.19. The firm has a market capitalization of $47.55 billion, a PE ratio of -1,174.65 and a beta of 1.09. The business has a 50-day moving average of $250.18 and a two-hundred day moving average of $215.46.

Zscaler (NASDAQ:ZS) last posted its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The business had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. During the same quarter last year, the firm earned $0.88 earnings per share. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. As a group, research analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on ZS. Stephens reaffirmed an “overweight” rating and set a $255.00 price target on shares of Zscaler in a research report on Tuesday, May 27th. Wedbush boosted their target price on Zscaler from $240.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, May 30th. Robert W. Baird lifted their price target on Zscaler from $295.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, May 30th. Scotiabank boosted their target price on Zscaler from $310.00 to $360.00 and gave the stock a “sector outperform” rating in a research report on Friday, June 6th. Finally, Needham & Company LLC boosted their target price on Zscaler from $240.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. Eight analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and an average price target of $294.03.

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.