Raleigh Capital Management Inc. Grows Stake in Zscaler, Inc. (NASDAQ:ZS)

Raleigh Capital Management Inc. boosted its holdings in Zscaler, Inc. (NASDAQ:ZS) by 553.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 183 shares of the company’s stock after purchasing an additional 155 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Zscaler were worth $36,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC raised its position in Zscaler by 284.8% in the 1st quarter. ORG Partners LLC now owns 127 shares of the company’s stock valued at $26,000 after purchasing an additional 94 shares during the last quarter. Goodman Advisory Group LLC acquired a new position in Zscaler in the first quarter valued at $29,000. Summit Securities Group LLC acquired a new stake in shares of Zscaler during the fourth quarter worth about $27,000. CVA Family Office LLC grew its holdings in shares of Zscaler by 120.3% during the first quarter. CVA Family Office LLC now owns 152 shares of the company’s stock worth $30,000 after buying an additional 83 shares during the last quarter. Finally, Colonial Trust Co SC acquired a new position in Zscaler in the 4th quarter valued at about $28,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $312.44 on Wednesday. The company has a market cap of $48.65 billion, a P/E ratio of -1,201.69 and a beta of 1.11. Zscaler, Inc. has a one year low of $153.45 and a one year high of $318.46. The business’s 50-day simple moving average is $277.85 and its 200 day simple moving average is $225.62.

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

Insider Buying and Selling at Zscaler

In other Zscaler news, insider Syam Nair sold 4,064 shares of Zscaler stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total transaction of $1,234,236.80. Following the sale, the insider directly owned 106,659 shares in the company, valued at $32,392,338.30. The trade was a 3.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam Geller sold 3,662 shares of Zscaler stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $306.72, for a total value of $1,123,208.64. Following the sale, the insider owned 46,813 shares in the company, valued at $14,358,483.36. This represents a 7.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 200,793 shares of company stock worth $58,752,794. Insiders own 18.10% of the company’s stock.

Analyst Upgrades and Downgrades

ZS has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on Zscaler from $295.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. Wells Fargo & Company upgraded shares of Zscaler from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $260.00 to $385.00 in a research report on Friday, June 13th. Barclays boosted their price objective on shares of Zscaler from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, May 30th. Oppenheimer raised their target price on shares of Zscaler from $290.00 to $345.00 and gave the stock an “outperform” rating in a research note on Friday, June 6th. Finally, Scotiabank boosted their price target on shares of Zscaler from $310.00 to $360.00 and gave the stock a “sector outperform” rating in a research note on Friday, June 6th. Eight analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $296.82.

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.