Allstate Corp Purchases 1,645 Shares of Zscaler, Inc. $ZS

Key Points

• Allstate Corp increased its stake in Zscaler, Inc. by 61.9% during Q1, owning 4,303 shares valued at $854,000.
• Other institutional investors, including GAMMA Investing LLC and Allworth Financial LP, also boosted their holdings, reflecting increased interest as 46.45% of Zscaler's stock is owned by institutional investors.
• Zscaler reported $678.03 million in revenue for the latest quarter, surpassing expectations and showing a year-over-year growth of 22.6%.

Allstate Corp boosted its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 61.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,303 shares of the company's stock after purchasing an additional 1,645 shares during the period. Allstate Corp's holdings in Zscaler were worth $854,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. bought a new position in shares of Zscaler in the first quarter worth about $516,622,000. Nuveen LLC bought a new position in shares of Zscaler in the first quarter worth about $153,340,000. Goldman Sachs Group Inc. raised its stake in shares of Zscaler by 23.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,048,238 shares of the company's stock worth $604,831,000 after acquiring an additional 578,883 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Zscaler by 120.1% in the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock worth $173,921,000 after acquiring an additional 525,956 shares during the last quarter. Finally, Greenvale Capital LLP bought a new position in shares of Zscaler in the fourth quarter worth about $72,164,000. 46.45% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Robert Schlossman sold 4,618 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $300.00, for a total value of $1,385,400.00. Following the transaction, the insider directly owned 95,612 shares of the company's stock, valued at $28,683,600. This represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ajay Mangal sold 120,000 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $300.89, for a total transaction of $36,106,800.00. Following the completion of the transaction, the insider directly owned 2,550,210 shares in the company, valued at $767,332,686.90. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 168,256 shares of company stock valued at $50,618,544. 18.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ZS has been the subject of a number of research analyst reports. Bank of America boosted their target price on shares of Zscaler from $285.00 to $340.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Roth Capital reaffirmed a "neutral" rating on shares of Zscaler in a research note on Wednesday, May 28th. FBN Securities raised shares of Zscaler to a "strong-buy" rating in a research note on Friday, May 30th. Rosenblatt Securities boosted their target price on shares of Zscaler from $235.00 to $315.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Finally, Needham & Company LLC boosted their target price on shares of Zscaler from $240.00 to $310.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Zscaler has an average rating of "Moderate Buy" and a consensus price target of $296.49.

Zscaler Stock Up 2.0%

Shares of ZS traded up $5.39 during trading hours on Wednesday, hitting $273.07. The company had a trading volume of 1,029,740 shares, compared to its average volume of 1,385,173. The firm has a market cap of $42.52 billion, a price-to-earnings ratio of -1,050.27, a PEG ratio of 285.53 and a beta of 1.06. The business has a fifty day moving average of $290.22 and a 200-day moving average of $247.90. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $318.46.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $678.03 million for the quarter, compared to analyst estimates of $667.13 million. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The company's revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 earnings per share. Zscaler has set its FY 2025 guidance at 3.180-3.19 EPS. Q4 2025 guidance at EPS. On average, equities analysts expect that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

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.