Paloma Partners Management Co Invests $12.01 Million in Zscaler Inc (NASDAQ:ZS)

Paloma Partners Management Co bought a new position in Zscaler Inc (NASDAQ:ZS) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 156,695 shares of the company’s stock, valued at approximately $12,009,000. Paloma Partners Management Co owned 0.12% of Zscaler as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the company. Tortoise Index Solutions LLC bought a new stake in Zscaler during the 1st quarter valued at $25,000. Meadow Creek Investment Management LLC purchased a new position in Zscaler during the 2nd quarter worth $32,000. Neuburgh Advisers LLC purchased a new position in Zscaler during the 2nd quarter worth $44,000. Wealthcare Advisory Partners LLC grew its stake in Zscaler by 211.1% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 700 shares of the company’s stock valued at $50,000 after purchasing an additional 475 shares during the last quarter. Finally, Valeo Financial Advisors LLC purchased a new stake in Zscaler during the 2nd quarter valued at about $54,000. Hedge funds and other institutional investors own 33.45% of the company’s stock.

Shares of Zscaler stock traded down $1.60 during trading on Thursday, reaching $50.35. The company had a trading volume of 227,973 shares, compared to its average volume of 4,243,101. The company has a market cap of $6.53 billion, a price-to-earnings ratio of -419.58 and a beta of 1.29. Zscaler Inc has a fifty-two week low of $30.72 and a fifty-two week high of $89.54. The firm’s fifty day moving average is $71.48 and its 200-day moving average is $72.09.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.06. The business had revenue of $86.11 million during the quarter, compared to analysts’ expectations of $82.15 million. Zscaler had a negative net margin of 9.46% and a negative return on equity of 9.78%. On average, equities analysts forecast that Zscaler Inc will post -0.22 EPS for the current fiscal year.

A number of equities analysts recently weighed in on the company. Wedbush reduced their price target on Zscaler from $90.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, September 11th. Rosenblatt Securities reissued a “hold” rating and set a $50.00 target price on shares of Zscaler in a report on Wednesday. Cowen dropped their price target on Zscaler from $85.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, September 11th. Bank of America set a $77.00 price target on Zscaler and gave the company a “neutral” rating in a research report on Friday, May 31st. Finally, Berenberg Bank assumed coverage on Zscaler in a research report on Friday, May 31st. They issued a “hold” rating and a $78.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $66.56.

In related news, EVP Amit Sinha sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $78.00, for a total transaction of $156,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Manoj Apte sold 95,544 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $84.91, for a total transaction of $8,112,641.04. The disclosure for this sale can be found here. Insiders sold 170,561 shares of company stock valued at $14,152,448 over the last quarter. Insiders own 27.40% of the company’s stock.

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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