Brown Advisory Inc. Has $8.61 Million Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Brown Advisory Inc. cut its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,370 shares of the company's stock after selling 929 shares during the quarter. Brown Advisory Inc.'s holdings in Zscaler were worth $8,605,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the stock. ORG Partners LLC raised its position in Zscaler by 284.8% in the 1st quarter. ORG Partners LLC now owns 127 shares of the company's stock valued at $26,000 after purchasing an additional 94 shares in the last quarter. Goodman Advisory Group LLC acquired a new stake in Zscaler during the 1st quarter worth $29,000. Summit Securities Group LLC purchased a new position in shares of Zscaler during the fourth quarter worth about $27,000. CVA Family Office LLC increased its holdings in shares of Zscaler by 120.3% in the first quarter. CVA Family Office LLC now owns 152 shares of the company's stock valued at $30,000 after purchasing an additional 83 shares during the period. Finally, Colonial Trust Co SC acquired a new position in Zscaler in the 4th quarter valued at $28,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Stock Performance

ZS traded down $6.44 during trading hours on Friday, hitting $289.74. 2,273,010 shares of the stock were exchanged, compared to its average volume of 2,076,735. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $318.46. The stock has a 50-day simple moving average of $281.04 and a 200-day simple moving average of $227.00.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its 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 analysts' expectations of $667.13 million. During the same period last year, the business posted $0.88 earnings per share. The firm's quarterly revenue was up 22.6% compared to the same quarter last year. Equities research analysts forecast that Zscaler, Inc. will post -0.1 EPS for the current year.

Wall Street Analyst Weigh In

ZS has been the subject of a number of analyst reports. Morgan Stanley increased their target price on Zscaler from $200.00 to $280.00 and gave the stock an "equal weight" rating in a research note on Friday, May 30th. JMP Securities upped their price objective on Zscaler from $310.00 to $355.00 and gave the company a "market outperform" rating in a research report on Tuesday, July 1st. Cantor Fitzgerald raised their target price on shares of Zscaler from $290.00 to $340.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Oppenheimer upped their price objective on shares of Zscaler from $290.00 to $345.00 and gave the company an "outperform" rating in a research note on Friday, June 6th. Finally, BNP Paribas raised Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 price target for the company in a research report on Monday, April 28th. Eight analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Zscaler presently has an average rating of "Moderate Buy" and a consensus target price of $296.82.

Insider Activity

In related news, insider Syam Nair sold 4,064 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total value of $1,234,236.80. Following the sale, the insider directly owned 106,659 shares in the company, valued at $32,392,338.30. The trade was a 3.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Raj Judge sold 2,957 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total value of $898,040.90. Following the completion of the transaction, the executive vice president directly owned 76,289 shares in the company, valued at $23,168,969.30. This represents a 3.73% decrease in their position. 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 ninety days. 18.10% of the stock is currently owned by company insiders.

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.