Asset Management One Co. Ltd. Raises Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Asset Management One Co. Ltd. increased its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,036 shares of the company's stock after buying an additional 5,738 shares during the period. Asset Management One Co. Ltd. owned about 0.05% of Zscaler worth $16,476,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. LaFleur & Godfrey LLC boosted its position in 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 purchasing an additional 399 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Zscaler by 43.7% during the 4th quarter. Truist Financial Corp now owns 6,874 shares of the company's stock valued at $1,240,000 after purchasing an additional 2,091 shares during the last quarter. D.A. Davidson & CO. grew its stake in Zscaler by 22.1% during the 4th quarter. D.A. Davidson & CO. now owns 2,363 shares of the company's stock worth $426,000 after buying an additional 427 shares during the last quarter. Atria Wealth Solutions Inc. boosted its holdings in Zscaler by 19.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 2,965 shares of the company's stock worth $535,000 after acquiring an additional 474 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of Zscaler by 9.2% during the fourth quarter. Global Retirement Partners LLC now owns 983 shares of the company's stock valued at $177,000 after acquiring an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.

Insider Activity at Zscaler

In other news, Director Andrew William Fraser Brown sold 10,000 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the sale, the director now owns 27,216 shares of the company's stock, valued at approximately $5,606,496. This represents a 26.87% 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 the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,849 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total value of $865,241.30. Following the sale, the chief executive officer now directly owns 353,565 shares in the company, valued at $107,377,690.50. This represents a 0.80% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 210,793 shares of company stock worth $60,812,794. Company insiders own 18.10% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on ZS shares. Mizuho boosted their price target on Zscaler from $275.00 to $290.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. BNP Paribas raised shares of Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 price objective on the stock in a report on Monday, April 28th. Bank of America raised their target price on shares of Zscaler from $285.00 to $340.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Susquehanna boosted their target price on shares of Zscaler from $245.00 to $320.00 and gave the company a "positive" rating in a research report on Friday, May 30th. Finally, Needham & Company LLC increased their price target on Zscaler from $240.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $295.50.

Zscaler Price Performance

Zscaler stock traded up $2.22 during trading on Friday, reaching $316.07. 450,793 shares of the company were exchanged, compared to its average volume of 2,058,498. The stock's 50 day simple moving average is $261.01 and its two-hundred day simple moving average is $219.04. The company has a market capitalization of $49.21 billion, a P/E ratio of -1,215.06 and a beta of 1.09. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $317.18.

Zscaler (NASDAQ:ZS - Get Free Report) last announced 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 net margin of 1.52% and a negative return on equity of 0.59%. The firm had revenue of $678.03 million for the quarter, compared to analysts' expectations of $667.13 million. During the same quarter in the previous year, the company posted $0.88 EPS. The company's revenue was up 22.6% compared to the same quarter last year. As a group, equities analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current 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.