283,095 Shares in Zscaler, Inc. (NASDAQ:ZS) Acquired by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. has made a significant investment in Zscaler, acquiring 283,095 shares valued at approximately $56.17 million, representing a 0.18% ownership in the company.
• Recent reports indicate that analysts have set new price targets for Zscaler, with the consensus target now at $296.82 and a majority rating it as a "Moderate Buy."
• Zscaler reported earnings that surpassed expectations, with $0.84 earnings per share for the quarter, while revenues increased by 22.6% compared to the previous year.

Federated Hermes Inc. acquired a new position in Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 283,095 shares of the company's stock, valued at approximately $56,172,000. Federated Hermes Inc. owned approximately 0.18% of Zscaler at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ORG Partners LLC grew its holdings in shares of Zscaler by 284.8% during the 1st quarter. ORG Partners LLC now owns 127 shares of the company's stock worth $26,000 after purchasing an additional 94 shares in the last quarter. Colonial Trust Co SC bought a new position in Zscaler in the 4th quarter valued at $28,000. Goodman Advisory Group LLC bought a new position in Zscaler in the 1st quarter valued at $29,000. N.E.W. Advisory Services LLC acquired a new position in shares of Zscaler during the first quarter valued at $29,000. Finally, Elequin Capital LP acquired a new position in shares of Zscaler during the fourth quarter valued at $30,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zscaler

In other news, insider Syam Nair sold 28,947 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $250.00, for a total value of $7,236,750.00. Following the transaction, the insider owned 110,566 shares in the company, valued at $27,641,500. The trade was a 20.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Schlossman sold 4,618 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was 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 $28,683,600. The trade was a 4.61% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 200,793 shares of company stock worth $58,752,794. 18.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ZS. BTIG Research reissued a "buy" rating on shares of Zscaler in a research note on Thursday, July 10th. FBN Securities upgraded Zscaler to a "strong-buy" rating in a report on Friday, May 30th. Truist Financial reaffirmed a "buy" rating and issued a $300.00 target price (up from $260.00) on shares of Zscaler in a report on Friday, May 30th. Guggenheim restated a "neutral" rating on shares of Zscaler in a research note on Friday, May 30th. Finally, Mizuho upped their price objective on Zscaler from $275.00 to $290.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Seven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Zscaler presently has an average rating of "Moderate Buy" and an average price target of $296.82.

Zscaler Trading Down 0.8%

Zscaler stock traded down $2.34 during midday trading on Wednesday, reaching $287.73. The stock had a trading volume of 1,051,130 shares, compared to its average volume of 1,598,249. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $318.46. The company has a market capitalization of $44.80 billion, a P/E ratio of -1,106.65 and a beta of 1.11. The company has a fifty day moving average price of $294.03 and a two-hundred day moving average price of $236.88.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.08. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The business had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. During the same period in the previous year, the company posted $0.88 EPS. The firm's revenue was up 22.6% compared to the same quarter last year. On average, equities research analysts predict 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.