GPS Wealth Strategies Group LLC Acquires 1,828 Shares of Zscaler, Inc. (NASDAQ:ZS)

GPS Wealth Strategies Group LLC, a renowned institutional investor, has recently made a significant move in the stock market by acquiring 1,828 shares of Zscaler, Inc. (NASDAQ:ZS). This strategic investment showcases the growing confidence in the potential of Zscaler, a cloud security company. In this article, we will explore the details of this acquisition, analyze the recent activities of other hedge funds, highlight insider buying and selling at Zscaler, Zscaler, Inc (NASDAQ:ZS) discuss the stock performance, and provide insights from industry analysts.

GPS Wealth Strategies Group LLC’s Investment in Zscaler, Inc.:

During the first quarter, GPS Wealth Strategies Group LLC made a notable purchase, acquiring a new position in Zscaler, Inc. The institutional investor now holds 1,828 shares of Zscaler’s stock, which are valued at approximately $214,000. This move by GPS Wealth Strategies Group LLC reflects their confidence in the future growth prospects of Zscaler.

Other Hedge Funds’ Activities:

Apart from GPS Wealth Strategies Group LLC, several other hedge funds have also made modifications to their holdings in Zscaler. Ronald Blue Trust Inc. witnessed a significant increase of 738.2% in their Zscaler holdings during the first quarter. They now own 1,425 shares of the company’s stock, valued at $159,000.

Stonnington Group LLC entered the market by acquiring a new position in Zscaler worth $290,000 in the first quarter. Dakota Wealth Management also bought a stake in Zscaler, purchasing shares worth approximately $358,000. Raymond James & Associates raised their holdings in Zscaler by 1.5% during the first quarter, owning 20,167 shares valued at $2,356,000. Lastly, Householder Group Estate & Retirement Specialist LLC acquired a new position worth $29,000 in the first quarter. Overall, institutional investors and hedge funds currently own 45.19% of Zscaler’s outstanding shares.

Insider Buying and Selling at Zscaler:

Zscaler has witnessed recent insider buying and selling activities that shed light on the confidence and actions of key individuals within the company. Insider Robert Schlossman sold 2,496 shares of Zscaler’s stock on June 6th, generating a total value of $374,400. Following this transaction, Schlossman now holds 142,899 shares, valued at $21,434,850. Additionally, CFO Remo Canessa sold 6,191 shares on June 16th, with a total transaction value of $969,758.24. Canessa currently holds 310,065 shares, valued at $48,568,581.60. These insider activities provide insights into the market sentiment and the actions taken by key individuals within Zscaler.

Zscaler Stock Performance:

Zscaler’s stock opened at $144.11 on Thursday. The company’s stock has experienced a 12-month low of $84.93 and a 12-month high of $194.21. As of the most recent data, Zscaler’s stock is down 0.4%. The fifty-day simple moving average stands at $125.88, while the two-hundred-day simple moving average is $120.01. With a market capitalization of $21.02 billion, Zscaler operates with a negative price-to-earnings ratio of -76.25, reflecting the market’s anticipation of future growth. The company’s beta is 0.84, suggesting a moderate level of volatility compared to the market.

Zscaler’s Quarterly Earnings Results and Analyst Ratings Changes:

Zscaler recently announced its quarterly earnings results on June 1st. The company reported earnings per share (EPS) of $0.48 for the quarter, surpassing analysts’ consensus estimates of $0.42 by $0.06. Zscaler generated revenue of $418.80 million, exceeding analyst estimates of $411.55 million. The company experienced a significant year-over-year increase in revenue of 46.0% during this period. It’s worth noting that Zscaler had a negative net margin of 18.20% and a negative return on equity of 39.82% for the quarter.

Multiple research analysts have evaluated Zscaler’s performance and provided their insights. Capital One Financial initiated coverage on Zscaler, assigning the company an “equal weight” rating with a target price of $125.00. Cantor Fitzgerald raised their target price from $140.00 to $145.00. Robert W. Baird also increased their price target from $165.00 to $185.00, and Bank of America upped their target price from $160.00 to $175.00. Citigroup, on the other hand, raised their price target to $148.00 from $145.00. In total, Zscaler has received a “Moderate Buy” rating from analysts, with a consensus target price of $172.66.

Investment Potential and Expert Insights:

While Zscaler is an intriguing investment option, it’s important to consider other potential opportunities in the market. MarketBeat, a platform that tracks top-rated research analysts, has identified five stocks that industry experts are quietly recommending to their clients. These stocks have the potential for significant growth and are worth considering before the broader market catches on. Though Zscaler is not among the top five recommendations, it still holds a “Moderate Buy” rating from analysts.

GPS Wealth Strategies Group LLC’s acquisition of 1,828 shares in Zscaler, Inc. demonstrates a strong vote of confidence in the cloud security company. Other hedge funds have also made moves in Zscaler, indicating growing interest in its investment potential. Insider buying and selling activities provide additional insights into the company’s prospects. While Zscaler’s stock has experienced fluctuations, it maintains a solid position in the market. Analysts have raised their expectations for the company, highlighting its promising future. However, it’s essential to explore other investment opportunities as well. Keeping a close eye on expert insights can help investors make informed decisions..

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