Bank Julius Baer & Co. Ltd Zurich Raises Position in Zscaler, Inc. (NASDAQ:ZS)

Bank Julius Baer & Co. Ltd Zurich raised its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 522.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,888 shares of the company's stock after acquiring an additional 24,250 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in Zscaler were worth $6,095,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. ORG Partners LLC grew its stake in Zscaler by 284.8% during the first quarter. ORG Partners LLC now owns 127 shares of the company's stock worth $26,000 after buying an additional 94 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Zscaler in the 4th quarter valued at $27,000. Colonial Trust Co SC bought a new position in shares of Zscaler in the 4th quarter valued at $28,000. Goodman Advisory Group LLC acquired a new position in shares of Zscaler during the 1st quarter worth $29,000. Finally, Elequin Capital LP acquired a new stake in Zscaler in the fourth quarter valued at about $30,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Zscaler

In other Zscaler news, major shareholder Ajay Mangal sold 120,000 shares of Zscaler 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 sale, the insider directly owned 2,550,210 shares of the company's stock, valued at approximately $767,332,686.90. The trade was a 4.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Syam Nair sold 28,947 shares of Zscaler stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $250.00, for a total value of $7,236,750.00. Following the sale, the insider owned 110,566 shares in the company, valued at $27,641,500. This represents a 20.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 200,793 shares of company stock worth $58,752,794 over the last 90 days. 18.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Loop Capital upped their target price on Zscaler from $250.00 to $260.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Wells Fargo & Company raised Zscaler from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $260.00 to $385.00 in a research note on Friday, June 13th. Morgan Stanley upped their price objective on shares of Zscaler from $200.00 to $280.00 and gave the company an "equal weight" rating in a research note on Friday, May 30th. Scotiabank increased their price target on Zscaler from $310.00 to $360.00 and gave the stock a "sector outperform" rating in a report on Friday, June 6th. Finally, BMO Capital Markets lifted their target price on Zscaler from $233.00 to $295.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Seven 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $296.82.

Zscaler Price Performance

Zscaler stock traded up $1.88 during trading hours on Friday, reaching $286.18. The company had a trading volume of 1,001,220 shares, compared to its average volume of 2,248,962. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $318.46. The company has a 50-day moving average price of $291.06 and a 200 day moving average price of $234.09. The firm has a market cap of $44.56 billion, a price-to-earnings ratio of -1,100.69 and a beta of 1.11.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.08. The company had revenue of $678.03 million during 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 firm's revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 EPS. As a group, research analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current 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.