BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $3.79 Million Stock Position in Zscaler, Inc. $ZS

Key Points

• British Columbia Investment Management Corp increased its stake in Zscaler, Inc. by 8.9% in Q1, resulting in ownership of 19,074 shares worth approximately $3.79 million.
• In recent insider activity, Robert Schlossman sold 4,618 shares at an average price of $300, while major shareholder Ajay Mangal sold 120,000 shares at an average price of $300.89.
• Zscaler reported a revenue of $678.03 million for the quarter, surpassing analysts' estimates, with a year-over-year growth of 22.6%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,074 shares of the company's stock after acquiring an additional 1,551 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Zscaler were worth $3,785,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Zscaler by 43.1% in the 1st quarter. GAMMA Investing LLC now owns 641 shares of the company's stock worth $127,000 after purchasing an additional 193 shares in the last quarter. Allworth Financial LP raised its holdings in Zscaler by 47.4% during the first quarter. Allworth Financial LP now owns 1,002 shares of the company's stock worth $211,000 after buying an additional 322 shares during the last quarter. Krane Funds Advisors LLC raised its holdings in Zscaler by 36.4% during the first quarter. Krane Funds Advisors LLC now owns 1,667 shares of the company's stock worth $331,000 after buying an additional 445 shares during the last quarter. Merit Financial Group LLC lifted its stake in shares of Zscaler by 42.0% in the first quarter. Merit Financial Group LLC now owns 6,197 shares of the company's stock valued at $1,230,000 after buying an additional 1,832 shares in the last quarter. Finally, National Pension Service grew its holdings in shares of Zscaler by 11.2% during the first quarter. National Pension Service now owns 171,847 shares of the company's stock valued at $34,098,000 after buying an additional 17,342 shares during the last quarter. Institutional investors own 46.45% of the company's stock.

Insider Activity

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

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $269.66 on Tuesday. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $318.46. The company has a market capitalization of $41.99 billion, a PE ratio of -1,037.15, a price-to-earnings-growth ratio of 290.68 and a beta of 1.06. The business has a fifty day moving average price of $291.66 and a two-hundred day moving average price of $247.59.

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, topping analysts' consensus estimates 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 company had revenue of $678.03 million for the quarter, compared to the consensus estimate of $667.13 million. During the same period in the previous year, the firm earned $0.88 EPS. The firm's quarterly revenue was up 22.6% on a year-over-year basis. Zscaler has set its FY 2025 guidance at 3.180-3.19 EPS. Q4 2025 guidance at EPS. Sell-side analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. KeyCorp upped their target price on shares of Zscaler from $290.00 to $310.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Royal Bank Of Canada increased their price objective on Zscaler from $288.00 to $304.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Truist Financial restated a "buy" rating and issued a $300.00 target price (up previously from $260.00) on shares of Zscaler in a report on Friday, May 30th. Canaccord Genuity Group set a $305.00 price target on Zscaler and gave the stock a "buy" rating in a report on Monday, June 2nd. Finally, Stephens reissued an "overweight" rating and issued a $255.00 price target on shares of Zscaler in a research report on Tuesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $297.12.

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.

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