Baird Financial Group Inc. Sells 6,478 Shares of Zscaler, Inc. (NASDAQ:ZS)

06 Dec 2023, 13:53 by Sarita Garza · The Markets Daily

Baird Financial Group Inc. cut its position in shares of Zscaler, Inc. (NASDAQ:ZS – Free Report) by 19.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,021 shares of the company’s stock after selling 6,478 shares during the period. Baird Financial Group Inc.’s holdings in Zscaler were worth $3,807,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC increased its holdings in shares of Zscaler by 2.7% in the 1st quarter. International Assets Investment Management LLC now owns 2,558 shares of the company’s stock worth $617,000 after buying an additional 67 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in Zscaler by 3.5% during the second quarter. Harbor Capital Advisors Inc. now owns 2,042 shares of the company’s stock worth $299,000 after acquiring an additional 69 shares during the last quarter. Malaga Cove Capital LLC raised its position in Zscaler by 1.0% during the second quarter. Malaga Cove Capital LLC now owns 6,812 shares of the company’s stock valued at $997,000 after purchasing an additional 69 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of Zscaler by 2.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,149 shares of the company’s stock valued at $461,000 after purchasing an additional 84 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its holdings in shares of Zscaler by 18.6% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 567 shares of the company’s stock worth $83,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ZS shares. Evercore ISI boosted their price objective on shares of Zscaler from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Tuesday, November 28th. Canaccord Genuity Group upped their price target on shares of Zscaler from $172.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, September 6th. Robert W. Baird reissued an “outperform” rating and issued a $185.00 price objective on shares of Zscaler in a research note on Monday, August 28th. Morgan Stanley upped their target price on Zscaler from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 28th. Finally, Oppenheimer raised their price target on Zscaler from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 6th. Nine analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $195.33.

Read Our Latest Stock Report on ZS

Insider Activity at Zscaler

In other Zscaler news, insider Robert Schlossman sold 3,855 shares of the firm’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $149.47, for a total value of $576,206.85. Following the completion of the transaction, the insider now owns 125,800 shares of the company’s stock, valued at $18,803,326. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, COO Dali Rajic sold 14,953 shares of Zscaler stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $154.45, for a total transaction of $2,309,490.85. Following the completion of the sale, the chief operating officer now owns 247,453 shares of the company’s stock, valued at $38,219,115.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Schlossman sold 3,855 shares of the stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $149.47, for a total transaction of $576,206.85. Following the completion of the transaction, the insider now owns 125,800 shares in the company, valued at approximately $18,803,326. The disclosure for this sale can be found here. Insiders have sold 143,438 shares of company stock valued at $25,227,774 in the last ninety days. Corporate insiders own 19.20% of the company’s stock.

Zscaler Stock Up 0.3 %

Shares of Zscaler stock opened at $198.91 on Wednesday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 1.56. The company has a market cap of $29.27 billion, a P/E ratio of -171.47 and a beta of 0.87. The firm’s 50 day moving average price is $172.85 and its 200-day moving average price is $156.62. Zscaler, Inc. has a 52-week low of $84.93 and a 52-week high of $207.78.

Zscaler (NASDAQ:ZS – Get Free Report) last announced its earnings results on Monday, November 27th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.18. Zscaler had a negative net margin of 9.54% and a negative return on equity of 23.03%. The company had revenue of $496.70 million during the quarter, compared to the consensus estimate of $473.36 million. During the same period last year, the firm earned ($0.47) earnings per share. Zscaler’s revenue was up 39.7% compared to the same quarter last year. On average, sell-side analysts predict that Zscaler, Inc. will post -1.09 EPS for the current fiscal year.

Zscaler Company Profile

(Free Report)

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.

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