E. Ohman J or Asset Management AB Boosts Holdings in Zscaler, Inc. (NASDAQ:ZS)

E. Ohman J or Asset Management AB increased its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 28.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,950 shares of the company's stock after buying an additional 1,100 shares during the quarter. E. Ohman J or Asset Management AB's holdings in Zscaler were worth $982,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. LaFleur & Godfrey LLC raised its holdings in Zscaler by 0.6% in the 4th quarter. LaFleur & Godfrey LLC now owns 61,985 shares of the company's stock valued at $11,183,000 after buying an additional 399 shares during the period. Yousif Capital Management LLC acquired a new stake in shares of Zscaler during the fourth quarter valued at about $214,000. Choreo LLC raised its stake in shares of Zscaler by 2.6% in the 4th quarter. Choreo LLC now owns 2,833 shares of the company's stock valued at $517,000 after acquiring an additional 73 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Zscaler by 3.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 224,648 shares of the company's stock valued at $40,529,000 after acquiring an additional 6,532 shares during the period. Finally, Global X Japan Co. Ltd. lifted its holdings in shares of Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock worth $25,000 after acquiring an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company's stock.

Zscaler Stock Performance

ZS opened at $303.03 on Friday. Zscaler, Inc. has a one year low of $153.45 and a one year high of $306.78. The stock has a market capitalization of $47.18 billion, a P/E ratio of -1,212.12 and a beta of 1.09. The business's 50-day simple moving average is $229.85 and its 200-day simple moving average is $209.60.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.08. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm had revenue of $678.03 million for the quarter, compared to the consensus estimate of $667.13 million. During the same quarter last year, the business posted $0.88 EPS. The firm's quarterly revenue was up 22.6% compared to the same quarter last year. On average, equities research analysts forecast that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Insider Activity

In other news, insider Robert Schlossman sold 4,618 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $300.00, for a total value of $1,385,400.00. Following the completion of the sale, the insider now owns 95,612 shares in the company, valued at approximately $28,683,600. This trade represents a 4.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the sale, the insider now directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. The trade was a 6.87% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 266,722 shares of company stock valued at $57,583,648. Insiders own 18.10% of the company's stock.

Wall Street Analyst Weigh In

ZS has been the topic of a number of research analyst reports. Piper Sandler reissued a "neutral" rating and issued 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 lifted their price objective on Zscaler from $210.00 to $260.00 and gave the company an "equal weight" rating in a research note on Friday, May 30th. 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. Truist Financial restated a "buy" rating and set a $300.00 target price (up from $260.00) on shares of Zscaler in a report on Friday, May 30th. Finally, Susquehanna lifted their target price on Zscaler from $245.00 to $320.00 and gave the company a "positive" rating in a research report on Friday, May 30th. Nine equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Zscaler has a consensus rating of "Moderate Buy" and an average target price of $283.85.

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.

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