2,558 Shares in Zscaler, Inc. $ZS Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired 2,558 shares of Zscaler, Inc. valued at approximately $508,000 in the first quarter.
• Insider transactions include Robert Schlossman selling 3,174 shares for about $968,292, and CEO Jagtar Singh Chaudhry selling 2,849 shares for approximately $865,241.
• Zscaler reported a 22.6% year-over-year revenue increase with a quarterly revenue of $678.03 million and earnings per share of $0.84, exceeding estimates.

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,558 shares of the company's stock, valued at approximately $508,000.

Several other institutional investors also recently modified their holdings of ZS. ORG Partners LLC grew its position in Zscaler by 284.8% during the first quarter. ORG Partners LLC now owns 127 shares of the company's stock valued at $26,000 after acquiring an additional 94 shares during the last quarter. Colonial Trust Co SC bought a new position in Zscaler during the fourth quarter valued at approximately $28,000. Goodman Advisory Group LLC bought a new position in Zscaler during the first quarter valued at approximately $29,000. N.E.W. Advisory Services LLC bought a new position in Zscaler during the first quarter valued at approximately $29,000. Finally, Elequin Capital LP bought a new position in Zscaler during the fourth quarter valued at approximately $30,000. 46.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Robert Schlossman sold 3,174 shares of Zscaler stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $305.07, for a total value of $968,292.18. Following the completion of the sale, the insider directly owned 88,970 shares in the company, valued at approximately $27,142,077.90. This trade represents a 3.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,849 shares of Zscaler stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total value of $865,241.30. Following the completion of the sale, the chief executive officer owned 353,565 shares of the company's stock, valued at $107,377,690.50. The trade was a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,256 shares of company stock worth $50,618,544 in the last three months. 18.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. BNP Paribas upgraded shares of Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 price target on the stock in a research report on Monday, April 28th. Morgan Stanley increased their price objective on Zscaler from $200.00 to $280.00 and gave the company an "equal weight" rating in a research note on Friday, May 30th. Scotiabank increased their price objective on Zscaler from $310.00 to $360.00 and gave the company a "sector outperform" rating in a research note on Friday, June 6th. JPMorgan Chase & Co. increased their price objective on Zscaler from $292.00 to $348.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Finally, Stephens reissued an "overweight" rating and set a $255.00 price objective on shares of Zscaler in a research note on Tuesday, May 27th. Seven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $296.82.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $277.03 on Tuesday. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $318.46. The business has a fifty day moving average price of $294.56 and a 200-day moving average price of $245.19. The company has a market capitalization of $43.13 billion, a PE ratio of -1,065.50, a PEG ratio of 246.53 and a beta of 1.06.

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

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.

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