Zscaler, Inc. (NASDAQ:ZS) Holdings Decreased by EFG Asset Management Americas Corp.

Key Points

• EFG Asset Management Americas Corp. reduced its stake in Zscaler, Inc. by 11.1%, selling 1,141 shares and holding a total of 9,162 shares valued at approximately $1.8 million.
• Multiple hedge funds, including Geode Capital Management and AQR Capital Management, increased their positions in Zscaler significantly during the fourth quarter, reflecting strong institutional interest in the stock.
• CEO Jagtar Singh Chaudhry and another insider, Adam Geller, sold shares valued at over $1.9 million combined in recent transactions, indicating ongoing insider activity in the stock.

EFG Asset Management Americas Corp. lowered its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 11.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,162 shares of the company's stock after selling 1,141 shares during the period. EFG Asset Management Americas Corp.'s holdings in Zscaler were worth $1,818,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted 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 valued at $127,000 after purchasing an additional 193 shares during the last quarter. Allworth Financial LP raised its holdings in shares of Zscaler by 47.4% in the 1st quarter. Allworth Financial LP now owns 1,002 shares of the company's stock worth $211,000 after purchasing an additional 322 shares during the period. Krane Funds Advisors LLC lifted its stake in shares of Zscaler by 36.4% in the 1st quarter. Krane Funds Advisors LLC now owns 1,667 shares of the company's stock valued at $331,000 after purchasing an additional 445 shares in the last quarter. Merit Financial Group LLC lifted its stake in shares of Zscaler by 42.0% in the 1st quarter. Merit Financial Group LLC now owns 6,197 shares of the company's stock valued at $1,230,000 after purchasing an additional 1,832 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Zscaler during the 4th quarter worth about $32,158,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Zscaler Stock Down 2.0%

ZS stock traded down $5.64 during midday trading on Friday, reaching $279.92. The company had a trading volume of 698,554 shares, compared to its average volume of 2,215,681. The firm has a market capitalization of $43.58 billion, a PE ratio of -1,076.68 and a beta of 1.11. The stock has a 50 day moving average price of $294.68 and a 200 day moving average price of $237.56. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $318.46.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $678.03 million during 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 business's revenue for the quarter was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 EPS. Research analysts predict that Zscaler, Inc. will post -0.1 EPS for the current year.

Insider Activity at Zscaler

In other Zscaler news, insider Robert Schlossman sold 4,618 shares of the company's stock in a transaction dated 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 transaction, the insider owned 95,612 shares in the company, valued at approximately $28,683,600. This represents a 4.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ajay Mangal sold 120,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $300.89, for a total transaction of $36,106,800.00. Following the completion of the sale, the insider owned 2,550,210 shares in the company, valued at $767,332,686.90. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 200,793 shares of company stock valued at $58,752,794. Company insiders own 18.10% of the company's stock.

Analyst Upgrades and Downgrades

ZS has been the subject of several research reports. Bank of America boosted their price objective on shares of Zscaler from $285.00 to $340.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Loop Capital upped their price target on shares of Zscaler from $250.00 to $260.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Morgan Stanley increased their price target on Zscaler from $200.00 to $280.00 and gave the company an "equal weight" rating in a report on Friday, May 30th. BTIG Research restated a "buy" rating on shares of Zscaler in a research note on Thursday, July 10th. Finally, Susquehanna upped their target price on Zscaler from $245.00 to $320.00 and gave the stock a "positive" rating in a research report on Friday, May 30th. Seven research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $296.82.

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.