Peregrine Asset Advisers Inc. Acquires New Position in Zscaler Inc (NASDAQ:ZS)

Peregrine Asset Advisers Inc. acquired a new stake in Zscaler Inc (NASDAQ:ZS) in the 2nd quarter, Holdings Channel reports. The fund acquired 33,064 shares of the company’s stock, valued at approximately $2,534,000. Zscaler accounts for about 1.3% of Peregrine Asset Advisers Inc.’s portfolio, making the stock its 26th largest holding.

Several other institutional investors also recently made changes to their positions in ZS. Tocqueville Asset Management L.P. raised its position in Zscaler by 1.0% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 19,035 shares of the company’s stock worth $1,459,000 after buying an additional 185 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Zscaler by 2.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 9,547 shares of the company’s stock worth $732,000 after buying an additional 190 shares during the last quarter. Tortoise Index Solutions LLC purchased a new position in Zscaler during the 1st quarter worth approximately $25,000. FTB Advisors Inc. purchased a new position in Zscaler during the 1st quarter worth approximately $26,000. Finally, Nisa Investment Advisors LLC purchased a new position in Zscaler during the 1st quarter worth approximately $28,000. 33.59% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Amit Sinha sold 4,807 shares of Zscaler stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $72.24, for a total value of $347,257.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert Schlossman sold 1,213 shares of Zscaler stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $77.80, for a total transaction of $94,371.40. The disclosure for this sale can be found here. Insiders sold a total of 429,713 shares of company stock worth $34,536,225 in the last three months. 27.40% of the stock is owned by corporate insiders.

ZS has been the subject of a number of recent research reports. 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. Zacks Investment Research cut shares of Zscaler from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $89.00 price objective (up previously from $65.00) on shares of Zscaler in a research note on Friday, May 31st. BMO Capital Markets began coverage on shares of Zscaler in a research note on Thursday, August 1st. They set a “market perform” rating and a $100.00 price objective on the stock. Finally, Piper Jaffray Companies raised their price objective on shares of Zscaler from $65.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $74.25.

Shares of NASDAQ ZS traded down $1.26 during midday trading on Friday, reaching $71.28. 1,726,101 shares of the stock were exchanged, compared to its average volume of 2,303,239. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of -229.94 and a beta of 1.12. Zscaler Inc has a twelve month low of $30.72 and a twelve month high of $89.54. The firm has a 50-day simple moving average of $82.28 and a two-hundred day simple moving average of $70.48.

Zscaler (NASDAQ:ZS) last issued 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 for the quarter, compared to analyst estimates of $74.92 million. During the same period in the previous year, the business earned ($0.02) EPS. Zscaler’s revenue for the quarter was up 60.8% compared to the same quarter last year. On average, analysts forecast that Zscaler Inc will post -0.17 earnings per share for the current fiscal year.

Zscaler Company Profile

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.

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Institutional Ownership by Quarter for Zscaler (NASDAQ:ZS)

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