Timpani Capital Management LLC purchased a new stake in shares of Zscaler Inc (NASDAQ:ZS) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 42,726 shares of the company’s stock, valued at approximately $3,031,000. Zscaler comprises about 1.4% of Timpani Capital Management LLC’s investment portfolio, making the stock its 23rd largest holding.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. FTB Advisors Inc. purchased a new stake in Zscaler in the first quarter worth approximately $26,000. Nisa Investment Advisors LLC purchased a new position in shares of Zscaler during the 1st quarter valued at $28,000. Quantamental Technologies LLC purchased a new position in shares of Zscaler during the 4th quarter valued at $39,000. Mascoma Wealth Management LLC bought a new stake in Zscaler in the 4th quarter valued at $39,000. Finally, Acadian Asset Management LLC increased its holdings in Zscaler by 561.3% in the 4th quarter. Acadian Asset Management LLC now owns 1,230 shares of the company’s stock valued at $48,000 after acquiring an additional 1,044 shares during the last quarter. 34.36% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Karen Blasing sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $67.39, for a total value of $67,390.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Remo Canessa sold 110,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $78.19, for a total transaction of $8,600,900.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 390,571 shares of company stock worth $27,811,197. Insiders own 27.40% of the company’s stock.
Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Thursday, May 30th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). The company had revenue of $79.10 million for the quarter, compared to analysts’ expectations of $74.92 million. Zscaler had a negative net margin of 11.12% and a negative return on equity of 10.95%. The business’s revenue for the quarter was up 60.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.02) earnings per share. As a group, equities research analysts predict that Zscaler Inc will post -0.17 EPS for the current year.
A number of analysts have recently weighed in on the stock. Morgan Stanley set a $43.00 target price on shares of Zscaler and gave the stock a “sell” rating in a report on Friday, March 1st. Zacks Investment Research upgraded shares of Zscaler from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a report on Saturday. Barclays upped their price target on shares of Zscaler from $42.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Friday, March 1st. Piper Jaffray Companies boosted 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. Finally, Robert W. Baird reiterated a “buy” rating and set a $65.00 price objective on shares of Zscaler in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Zscaler currently has an average rating of “Buy” and an average price target of $72.00.
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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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