199,600 Shares in Zscaler, Inc. $ZS Purchased by 1832 Asset Management L.P.

Key Points

• 1832 Asset Management L.P. invested approximately $39.61 million in Zscaler, acquiring 199,600 shares during the first quarter of the year.
• Analysts have set a consensus price target of $296.82 on Zscaler, with UBS raising their price objective from $315.00 to $365.00, reflecting positive sentiment for the stock.
• Zscaler reported a quarterly EPS of $0.84, exceeding estimates, with a year-over-year revenue increase of 22.6%.

1832 Asset Management L.P. purchased a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 199,600 shares of the company's stock, valued at approximately $39,605,000. 1832 Asset Management L.P. owned 0.13% of Zscaler at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ZS. Quintet Private Bank Europe S.A. boosted its holdings in Zscaler by 4.7% during the first quarter. Quintet Private Bank Europe S.A. now owns 1,120 shares of the company's stock worth $222,000 after buying an additional 50 shares in the last quarter. Cerity Partners LLC raised its holdings in shares of Zscaler by 0.3% during the 1st quarter. Cerity Partners LLC now owns 22,928 shares of the company's stock valued at $4,549,000 after purchasing an additional 68 shares in the last quarter. Koshinski Asset Management Inc. raised its holdings in shares of Zscaler by 2.6% during the 1st quarter. Koshinski Asset Management Inc. now owns 2,801 shares of the company's stock valued at $556,000 after purchasing an additional 70 shares in the last quarter. Choreo LLC raised its holdings in shares of Zscaler by 2.7% during the 1st quarter. Choreo LLC now owns 2,909 shares of the company's stock valued at $577,000 after purchasing an additional 76 shares in the last quarter. Finally, GSB Wealth Management LLC raised its holdings in Zscaler by 3.5% in the 1st quarter. GSB Wealth Management LLC now owns 2,395 shares of the company's stock worth $475,000 after acquiring an additional 80 shares during the period. 46.45% of the stock is currently owned by institutional investors.

Zscaler Stock Down 1.0%

Zscaler stock traded down $2.86 during mid-day trading on Monday, hitting $269.66. 819,543 shares of the stock were exchanged, compared to its average volume of 1,438,319. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $318.46. The firm's fifty day simple moving average is $291.66 and its two-hundred day simple moving average is $247.59. The stock has a market capitalization of $41.99 billion, a price-to-earnings ratio of -1,037.15, a PEG ratio of 290.68 and a beta of 1.06.

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 the consensus estimate of $0.76 by $0.08. The firm had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The company's revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.88 EPS. Zscaler has set its FY 2025 guidance at 3.180-3.19 EPS. Q4 2025 guidance at EPS. As a group, analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Cantor Fitzgerald raised their price target on shares of Zscaler from $290.00 to $340.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Mizuho boosted their target price on shares of Zscaler from $275.00 to $290.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. BMO Capital Markets boosted their price target on shares of Zscaler from $233.00 to $295.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. UBS Group boosted their price objective on shares of Zscaler from $315.00 to $365.00 and gave the company a "buy" rating in a report on Friday, June 27th. Finally, Royal Bank Of Canada upped their price target on shares of Zscaler from $288.00 to $304.00 and gave the company an "outperform" rating in a report on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Zscaler presently has an average rating of "Moderate Buy" and an average target price of $297.12.

Insider Buying and Selling at Zscaler

In other Zscaler news, EVP Raj Judge sold 2,957 shares of Zscaler stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total transaction of $898,040.90. Following the transaction, the executive vice president directly owned 76,289 shares of the company's stock, valued at $23,168,969.30. The trade was a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Syam Nair sold 4,064 shares of Zscaler stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total transaction of $1,234,236.80. Following the transaction, the insider directly owned 106,659 shares in the company, valued at $32,392,338.30. This represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,256 shares of company stock worth $50,618,544 in the last ninety days. 18.10% of the stock is currently owned by corporate insiders.

About Zscaler

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.