DekaBank Deutsche Girozentrale Has $51.16 Million Stake in Zscaler, Inc. (NASDAQ:ZS)

DekaBank Deutsche Girozentrale grew its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 15.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 254,627 shares of the company's stock after buying an additional 33,415 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.16% of Zscaler worth $51,161,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its holdings in Zscaler by 43.1% during the 1st quarter. GAMMA Investing LLC now owns 641 shares of the company's stock worth $127,000 after purchasing an additional 193 shares during the last quarter. Krane Funds Advisors LLC boosted its position in Zscaler by 36.4% during the 1st quarter. Krane Funds Advisors LLC now owns 1,667 shares of the company's stock worth $331,000 after acquiring an additional 445 shares during the period. Merit Financial Group LLC boosted its position in Zscaler by 42.0% during the 1st quarter. Merit Financial Group LLC now owns 6,197 shares of the company's stock worth $1,230,000 after acquiring an additional 1,832 shares during the period. Arlington Capital Management Inc. acquired a new position in Zscaler during the 4th quarter worth $2,107,000. Finally, DnB Asset Management AS lifted its holdings in shares of Zscaler by 66.8% in the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock valued at $120,403,000 after buying an additional 267,162 shares during the period. 46.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ZS shares. Oppenheimer boosted their target price on Zscaler from $290.00 to $345.00 and gave the stock an "outperform" rating in a research report on Friday, June 6th. Wall Street Zen raised Zscaler from a "hold" rating to a "buy" rating in a research report on Sunday, June 8th. Mizuho upped their price target on Zscaler from $275.00 to $290.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Loop Capital upped their price target on Zscaler from $250.00 to $260.00 and gave the stock a "hold" rating in a research note on Friday, May 30th. Finally, FBN Securities upgraded Zscaler to a "strong-buy" rating in a research note 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $296.82.

Zscaler Stock Performance

ZS traded up $4.06 during mid-day trading on Wednesday, reaching $316.50. The stock had a trading volume of 1,680,976 shares, compared to its average volume of 2,064,930. The stock has a market capitalization of $49.28 billion, a P/E ratio of -1,217.31 and a beta of 1.11. The firm's fifty day simple moving average is $277.85 and its two-hundred day simple moving average is $225.62. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $318.46.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. The business had revenue of $678.03 million for the quarter, compared to analyst estimates of $667.13 million. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The firm's revenue was up 22.6% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. As a group, analysts expect that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Raj Judge sold 2,957 shares of Zscaler stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total value of $898,040.90. Following the sale, the executive vice president owned 76,289 shares of the company's stock, valued at approximately $23,168,969.30. The trade was a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Syam Nair sold 4,064 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total value of $1,234,236.80. Following the transaction, the insider directly owned 106,659 shares in the company, valued at approximately $32,392,338.30. This trade represents a 3.67% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 200,793 shares of company stock valued at $58,752,794. Corporate insiders own 18.10% of the company's stock.

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.