Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,029 shares of the company's stock after selling 1,550 shares during the period. Envestnet Asset Management Inc.'s holdings in Zscaler were worth $4,768,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC increased its position in Zscaler by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock valued at $298,710,000 after acquiring an additional 32,545 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in Zscaler by 25.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock worth $291,935,000 after acquiring an additional 332,307 shares during the last quarter. AQR Capital Management LLC lifted its stake in Zscaler by 120.1% in the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock valued at $173,921,000 after buying an additional 525,956 shares in the last quarter. Artisan Partners Limited Partnership lifted its stake in Zscaler by 30.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock valued at $156,739,000 after buying an additional 204,996 shares in the last quarter. Finally, DnB Asset Management AS lifted its position 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 worth $120,403,000 after purchasing an additional 267,162 shares in the last quarter. 46.45% of the stock is owned by institutional investors.

Zscaler Price Performance

ZS stock traded up $1.88 during mid-day trading on Friday, reaching $286.18. 1,001,220 shares of the company's stock were exchanged, compared to its average volume of 1,856,509. The company has a market cap of $44.56 billion, a price-to-earnings ratio of -1,100.69 and a beta of 1.11. The stock's 50 day moving average is $291.76 and its 200 day moving average is $234.80. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $318.46.

Zscaler (NASDAQ:ZS - Get Free Report) last issued 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. The company had revenue of $678.03 million for the quarter, compared to the consensus estimate of $667.13 million. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. Zscaler's revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 earnings per share. On average, research analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Insider Activity at Zscaler

In other news, EVP Raj Judge sold 2,957 shares of the business's 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 completion of the sale, the executive vice president directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adam Geller sold 3,662 shares of the company's stock in a transaction that occurred on 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 sale, the insider directly owned 46,813 shares of the company's stock, valued at approximately $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 200,793 shares of company stock worth $58,752,794 over the last three months. Company insiders own 18.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Bank of America upped their price target on shares of Zscaler from $285.00 to $340.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Mizuho upped their price objective on shares of Zscaler from $275.00 to $290.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. KeyCorp upped their price objective on shares of Zscaler from $290.00 to $310.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Loop Capital upped their price objective 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. Finally, UBS Group upped their price objective on shares of Zscaler from $315.00 to $365.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Seven investment 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 company. According to data from MarketBeat.com, Zscaler has a consensus rating of "Moderate Buy" and a consensus price target of $296.82.

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.