E Fund Management Co. Ltd. Purchases 2,076 Shares of Zscaler, Inc. (NASDAQ:ZS)

Key Points

• E Fund Management Co. Ltd. increased its stake in Zscaler, Inc. by 114.2% during Q1, acquiring an additional 2,076 shares, bringing its total ownership to 3,894 shares worth approximately $773,000.
• Several large investors have adjusted their positions in Zscaler, with notable increases from ORG Partners LLC (up 284.8%) and new stakes from multiple advisory firms totaling around $29,000 each.
• Zscaler's shares opened at $277.77, with an impressive 22.6% year-over-year revenue growth reported, and a consensus price target of $296.82 from analysts indicating a Moderate Buy rating.

E Fund Management Co. Ltd. grew its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 114.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,894 shares of the company's stock after acquiring an additional 2,076 shares during the quarter. E Fund Management Co. Ltd.'s holdings in Zscaler were worth $773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. ORG Partners LLC increased its position in shares of Zscaler by 284.8% during 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 during the last quarter. Colonial Trust Co SC bought a new position in shares of Zscaler during the 4th quarter valued at approximately $28,000. Goodman Advisory Group LLC bought a new position in shares of Zscaler during the 1st quarter valued at approximately $29,000. N.E.W. Advisory Services LLC bought a new position in shares of Zscaler during the 1st quarter valued at approximately $29,000. Finally, Elequin Capital LP bought a new position in shares of Zscaler during the 4th quarter valued at approximately $30,000. Institutional investors own 46.45% of the company's stock.

Insider Activity

In related news, insider Syam Nair sold 4,064 shares of the company's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total transaction of $1,234,236.80. Following the transaction, the insider directly owned 106,659 shares of the company's stock, valued at $32,392,338.30. This represents a 3.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Adam Geller sold 3,662 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $306.72, for a total value of $1,123,208.64. Following the transaction, the insider directly owned 46,813 shares in the company, valued at $14,358,483.36. This represents a 7.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,793 shares of company stock worth $58,752,794 over the last ninety days. 18.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ZS shares. Piper Sandler reissued a "neutral" rating and set a $260.00 target price (up previously from $235.00) on shares of Zscaler in a research report on Friday, May 30th. Wells Fargo & Company raised Zscaler from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $260.00 to $385.00 in a research report on Friday, June 13th. Truist Financial reissued a "buy" rating and set a $300.00 target price (up previously from $260.00) on shares of Zscaler in a research report on Friday, May 30th. Guggenheim restated a "neutral" rating on shares of Zscaler in a report on Friday, May 30th. Finally, Mizuho boosted their price objective on Zscaler from $275.00 to $290.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Zscaler has an average rating of "Moderate Buy" and a consensus price target of $296.82.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $277.77 on Thursday. The stock has a market capitalization of $43.25 billion, a P/E ratio of -1,068.35, a price-to-earnings-growth ratio of 246.94 and a beta of 1.06. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $318.46. The business has a fifty day moving average price of $296.18 and a 200 day moving average price of $243.05.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $678.03 million during the quarter, compared to analysts' expectations 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 quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 EPS. As a group, equities research analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.