Abacus FCF Advisors LLC Grows Holdings in Zscaler, Inc. (NASDAQ:ZS)

Abacus FCF Advisors LLC grew its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 371.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 73,772 shares of the company's stock after purchasing an additional 58,129 shares during the quarter. Zscaler makes up 2.3% of Abacus FCF Advisors LLC's portfolio, making the stock its 15th biggest position. Abacus FCF Advisors LLC's holdings in Zscaler were worth $14,638,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LaFleur & Godfrey LLC lifted its position in shares of Zscaler by 0.6% during the fourth quarter. LaFleur & Godfrey LLC now owns 61,985 shares of the company's stock valued at $11,183,000 after buying an additional 399 shares during the last quarter. Yousif Capital Management LLC purchased a new stake in Zscaler during the fourth quarter valued at approximately $214,000. Choreo LLC lifted its position in Zscaler by 2.6% during the fourth quarter. Choreo LLC now owns 2,833 shares of the company's stock valued at $517,000 after acquiring an additional 73 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Zscaler by 3.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 224,648 shares of the company's stock valued at $40,529,000 after acquiring an additional 6,532 shares in the last quarter. Finally, Savant Capital LLC acquired a new position in shares of Zscaler during the fourth quarter worth $2,742,000. 46.45% of the stock is currently owned by institutional investors.

Zscaler Stock Performance

Zscaler stock traded up $1.56 during trading on Thursday, reaching $301.42. The company had a trading volume of 1,824,012 shares, compared to its average volume of 2,058,886. The firm has a market capitalization of $46.93 billion, a PE ratio of -1,205.68 and a beta of 1.09. The firm's 50-day simple moving average is $236.33 and its 200 day simple moving average is $211.46. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $306.78.

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 analysts' consensus estimates of $0.76 by $0.08. The firm had revenue of $678.03 million for the quarter, compared to analyst estimates of $667.13 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. Zscaler's quarterly revenue was up 22.6% compared to the same quarter last year. During the same period last year, the company posted $0.88 EPS. Analysts anticipate that Zscaler, Inc. will post -0.1 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wedbush raised their price objective on Zscaler from $240.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Royal Bank of Canada raised their price target on Zscaler from $288.00 to $304.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Evercore ISI upped their price objective on shares of Zscaler from $245.00 to $290.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Wall Street Zen raised shares of Zscaler from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, 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 report on Wednesday, June 4th. Nine research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Zscaler has a consensus rating of "Moderate Buy" and a consensus target price of $288.71.

Insider Buying and Selling at Zscaler

In related news, major shareholder Ajay Mangal sold 190,480 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the transaction, the insider now directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This represents a 6.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $429,168.25. Following the sale, the chief executive officer now directly owns 356,414 shares of the company's stock, valued at approximately $70,979,848.10. This trade represents a 0.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 386,722 shares of company stock worth $93,690,448. Corporate insiders own 18.10% of the company's stock.

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.