Lansforsakringar Fondforvaltning AB publ Takes Position in Zscaler, Inc. (NASDAQ:ZS)

Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 30,969 shares of the company's stock, valued at approximately $5,587,000.

Several other hedge funds have also modified their holdings of the company. Centaurus Financial Inc. boosted its stake in shares of Zscaler by 13.1% during the 4th quarter. Centaurus Financial Inc. now owns 4,641 shares of the company's stock worth $837,000 after acquiring an additional 538 shares in the last quarter. Siemens Fonds Invest GmbH purchased a new stake in shares of Zscaler during the 4th quarter worth about $2,047,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Zscaler during the 4th quarter worth about $28,802,000. Brooklyn FI LLC purchased a new position in Zscaler in the 4th quarter valued at about $1,957,000. Finally, Azzad Asset Management Inc. ADV lifted its stake in Zscaler by 0.5% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 18,788 shares of the company's stock valued at $3,390,000 after buying an additional 85 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the sale, the chief executive officer now directly owns 356,414 shares of the company's stock, valued at approximately $70,979,848.10. The trade was a 0.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction on Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now directly owns 2,580,210 shares of the company's stock, valued at approximately $517,822,344.90. This trade represents a 6.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 241,771 shares of company stock valued at $50,165,040 in the last 90 days. Company insiders own 18.10% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ZS. JPMorgan Chase & Co. raised their price target on shares of Zscaler from $275.00 to $292.00 and gave the company an "overweight" rating in a research note on Friday. KeyCorp raised their price target on shares of Zscaler from $290.00 to $310.00 and gave the company an "overweight" rating in a research note on Friday. Morgan Stanley raised their price target on shares of Zscaler from $200.00 to $280.00 and gave the company an "equal weight" rating in a research note on Friday. JMP Securities raised their price target on shares of Zscaler from $240.00 to $310.00 and gave the company a "market outperform" rating in a research note on Friday. Finally, Piper Sandler reissued a "neutral" rating and issued a $260.00 target price (up from $235.00) on shares of Zscaler in a research note on Friday. Nine analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. Based on data from MarketBeat.com, Zscaler has a consensus rating of "Moderate Buy" and a consensus target price of $275.12.

Zscaler Stock Up 9.1%

ZS stock traded up $22.92 during midday trading on Friday, hitting $274.03. The company's stock had a trading volume of 9,940,403 shares, compared to its average volume of 2,077,574. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $277.94. The firm has a market capitalization of $42.40 billion, a P/E ratio of -1,096.12 and a beta of 1.14. The firm has a 50-day simple moving average of $220.62 and a 200-day simple moving average of $206.35.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The company had revenue of $678.03 million during the quarter, compared to analysts' expectations of $667.13 million. During the same quarter last year, the company posted $0.88 EPS. The firm's revenue was up 22.6% compared to the same quarter last year. On average, sell-side analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Zscaler 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.