Asahi Life Asset Management CO. LTD. Purchases Shares of 1,675 Zscaler, Inc. (NASDAQ:ZS)

Asahi Life Asset Management CO. LTD. bought a new stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,675 shares of the company's stock, valued at approximately $332,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Zscaler by 1,136.1% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 27,083 shares of the company's stock valued at $5,374,000 after buying an additional 24,892 shares during the period. Apollon Wealth Management LLC grew its holdings in shares of Zscaler by 16.9% in the first quarter. Apollon Wealth Management LLC now owns 2,757 shares of the company's stock worth $547,000 after purchasing an additional 398 shares during the last quarter. Sigma Planning Corp boosted its position in Zscaler by 42.8% in the 1st quarter. Sigma Planning Corp now owns 1,648 shares of the company's stock valued at $327,000 after buying an additional 494 shares during the period. Signaturefd LLC raised its stake in shares of Zscaler by 33.9% during the first quarter. Signaturefd LLC now owns 1,272 shares of the company's stock valued at $252,000 after acquiring an additional 322 shares in the last quarter. Finally, Leelyn Smith LLC increased its holdings in Zscaler by 4.8% during the 1st quarter. Leelyn Smith LLC now owns 5,556 shares of the company's stock worth $1,102,000 after purchasing an additional 253 shares during the period. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Stock Performance

ZS stock traded up $1.40 during midday trading on Monday, reaching $291.14. 1,780,605 shares of the company were exchanged, compared to its average volume of 2,304,388. The stock's 50-day simple moving average is $282.23 and its 200 day simple moving average is $228.27. The company has a market cap of $45.33 billion, a price-to-earnings ratio of -1,119.77 and a beta of 1.11. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $318.46.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.08. The firm had revenue of $678.03 million for the quarter, compared to the consensus estimate of $667.13 million. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The firm's quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 EPS. On average, research analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Insider Buying and Selling

In other Zscaler news, insider Robert Schlossman sold 4,618 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $300.00, for a total value of $1,385,400.00. Following the completion of the transaction, the insider owned 95,612 shares in the company, valued at approximately $28,683,600. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Syam Nair sold 28,947 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the completion of the sale, the insider owned 110,566 shares in the company, valued at $27,641,500. This represents a 20.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,793 shares of company stock worth $58,752,794 in the last ninety days. Insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. FBN Securities upgraded Zscaler to a "strong-buy" rating in a research note on Friday, May 30th. Morgan Stanley increased their price target on Zscaler from $200.00 to $280.00 and gave the company an "equal weight" rating in a research note on Friday, May 30th. KeyCorp increased their price objective on shares of Zscaler from $290.00 to $310.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Bank of America upped their price target on shares of Zscaler from $285.00 to $340.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Finally, Oppenheimer upped their target price on Zscaler from $290.00 to $345.00 and gave the company an "outperform" rating in a research report on Friday, June 6th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $296.82.

Zscaler Company Profile

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.