Requisite Capital Management LLC purchased a new stake in Zscaler Inc (NASDAQ:ZS) during the 2nd quarter, Holdings Channel reports. The firm purchased 3,000 shares of the company’s stock, valued at approximately $230,000.
Other large investors have also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System grew its position in Zscaler by 169.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 59,792 shares of the company’s stock worth $4,582,000 after buying an additional 37,569 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Zscaler in the second quarter worth approximately $449,000. Lisanti Capital Growth LLC grew its position in Zscaler by 546.6% in the second quarter. Lisanti Capital Growth LLC now owns 60,390 shares of the company’s stock worth $4,628,000 after buying an additional 51,050 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new position in Zscaler in the second quarter worth approximately $889,000. Finally, Swiss National Bank grew its position in Zscaler by 29.8% in the second quarter. Swiss National Bank now owns 115,500 shares of the company’s stock worth $8,852,000 after buying an additional 26,500 shares during the last quarter. Institutional investors own 33.59% of the company’s stock.
Several research firms have issued reports on ZS. OTR Global lowered shares of Zscaler from a “mixed” rating to a “negative” rating in a research report on Monday. Cowen began coverage on shares of Zscaler in a research report on Thursday, May 23rd. They issued an “outperform” rating and a $85.00 price target on the stock. Barclays lifted their price target on shares of Zscaler from $55.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 28th. Bank of America set a $77.00 price target on shares of Zscaler and gave the stock a “neutral” rating in a research report on Friday, May 31st. Finally, Berenberg Bank began coverage on shares of Zscaler in a research report on Friday, May 31st. They issued a “hold” rating and a $78.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $74.25.
Zscaler stock traded down $1.08 during midday trading on Tuesday, reaching $70.72. The stock had a trading volume of 2,155,059 shares, compared to its average volume of 1,769,282. The firm’s fifty day simple moving average is $82.87 and its two-hundred day simple moving average is $70.01. Zscaler Inc has a twelve month low of $30.72 and a twelve month high of $89.54. The firm has a market cap of $10.17 billion, a price-to-earnings ratio of -228.11 and a beta of 1.12.
Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Thursday, May 30th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). Zscaler had a negative return on equity of 10.95% and a negative net margin of 11.12%. The firm had revenue of $79.10 million during the quarter, compared to analyst estimates of $74.92 million. During the same period in the prior year, the business posted ($0.02) EPS. The company’s revenue for the quarter was up 60.8% on a year-over-year basis. As a group, research analysts predict that Zscaler Inc will post -0.17 EPS for the current fiscal year.
Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.
Further Reading: What are the economic characteristics of a bear market?
Want to see what other hedge funds are holding ZS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zscaler Inc (NASDAQ:ZS).
Receive News & Ratings for Zscaler Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zscaler and related companies with MarketBeat.com's FREE daily email newsletter.