Alps Advisors Inc. Sells 1,058 Shares of Zscaler, Inc. (NASDAQ:ZS)

Alps Advisors Inc. lowered its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 7.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,514 shares of the company's stock after selling 1,058 shares during the period. Alps Advisors Inc.'s holdings in Zscaler were worth $2,681,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of Zscaler by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock worth $298,710,000 after purchasing an additional 32,545 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Zscaler by 25.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock worth $291,935,000 after purchasing an additional 332,307 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Zscaler by 120.1% during the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock valued at $173,921,000 after acquiring an additional 525,956 shares during the last quarter. Artisan Partners Limited Partnership increased its position in shares of Zscaler by 30.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock valued at $156,739,000 after acquiring an additional 204,996 shares during the last quarter. Finally, DnB Asset Management AS increased its position in shares of Zscaler by 66.8% during the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock valued at $120,403,000 after acquiring an additional 267,162 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $289.74 on Friday. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $318.46. The company has a market cap of $45.11 billion, a PE ratio of -1,114.38 and a beta of 1.11. The stock's 50-day moving average is $282.23 and its 200 day moving average is $227.71.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $678.03 million for the quarter, compared to the consensus estimate of $667.13 million. During the same quarter in the previous year, the business earned $0.88 EPS. Zscaler's revenue was up 22.6% compared to the same quarter last year. Analysts expect that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Insider Activity

In other Zscaler news, major shareholder Ajay Mangal sold 120,000 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $300.89, for a total transaction of $36,106,800.00. Following the transaction, the insider owned 2,550,210 shares in the company, valued at approximately $767,332,686.90. This represents a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew William Fraser Brown sold 20,333 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $296.72, for a total value of $6,033,207.76. Following the completion of the sale, the director owned 27,216 shares in the company, valued at $8,075,531.52. The trade was a 42.76% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 200,793 shares of company stock worth $58,752,794. Company insiders own 18.10% of the company's stock.

Analyst Upgrades and Downgrades

ZS has been the subject of a number of research analyst reports. Robert W. Baird increased their price target on Zscaler from $295.00 to $315.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Stephens reissued an "overweight" rating and issued a $255.00 target price on shares of Zscaler in a research report on Tuesday, May 27th. Guggenheim reissued a "neutral" rating on shares of Zscaler in a research report on Friday, May 30th. Wall Street Zen raised Zscaler from a "hold" rating to a "buy" rating in a research report on Sunday, June 8th. Finally, Wedbush raised their target price on Zscaler from $240.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $296.82.

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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