Firsthand Capital Management Inc. Sells 5,000 Shares of Zscaler, Inc. $ZS

Key Points

• Firsthand Capital Management Inc. reduced its stake in Zscaler by 50% during the first quarter, selling 5,000 shares and now holding a total of 5,000 shares valued at approximately $992,000.
• Analysts have mixed ratings for Zscaler, with reports showing a downgrade to "hold" from "buy" and target prices ranging from $290 to $355 as part of the current market assessment.
• Zscaler's stock has demonstrated significant price variability, trading between a fifty-two week low of $153.45 and a high of $318.46, reflecting a market capitalization of $43.14 billion.

Firsthand Capital Management Inc. trimmed its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 50.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,000 shares of the company's stock after selling 5,000 shares during the period. Zscaler makes up 2.4% of Firsthand Capital Management Inc.'s portfolio, making the stock its 14th biggest holding. Firsthand Capital Management Inc.'s holdings in Zscaler were worth $992,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ZS. Dimensional Fund Advisors LP boosted its holdings in Zscaler by 6.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 186,781 shares of the company's stock valued at $33,704,000 after acquiring an additional 12,108 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Zscaler during the fourth quarter valued at approximately $216,000. Susquehanna Fundamental Investments LLC acquired a new stake in Zscaler during the fourth quarter valued at approximately $783,000. Northern Trust Corp boosted its holdings in Zscaler by 23.1% during the fourth quarter. Northern Trust Corp now owns 638,042 shares of the company's stock valued at $115,109,000 after purchasing an additional 119,536 shares in the last quarter. Finally, Lido Advisors LLC boosted its holdings in Zscaler by 223.5% during the fourth quarter. Lido Advisors LLC now owns 5,438 shares of the company's stock valued at $981,000 after purchasing an additional 3,757 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded Zscaler from a "buy" rating to a "hold" rating in a report on Saturday. Mizuho lifted their target price on shares of Zscaler from $275.00 to $290.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Roth Capital reiterated a "neutral" rating on shares of Zscaler in a research note on Wednesday, May 28th. Wedbush lifted their target price on shares of Zscaler from $240.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Finally, JMP Securities lifted their target price on shares of Zscaler from $310.00 to $355.00 and gave the company a "market outperform" rating in a research note on Tuesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $296.49.

Zscaler Price Performance

ZS stock opened at $277.05 on Friday. The company has a 50 day moving average price of $289.20 and a 200 day moving average price of $249.10. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $318.46. The stock has a market capitalization of $43.14 billion, a PE ratio of -1,065.58, a price-to-earnings-growth ratio of 259.58 and a beta of 1.06.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The firm had revenue of $678.03 million during the quarter, compared to analysts' expectations of $667.13 million. During the same quarter in the previous year, the company posted $0.88 EPS. Zscaler's revenue was up 22.6% on a year-over-year basis. As a group, equities analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Insider Activity

In other Zscaler news, EVP Raj Judge sold 2,957 shares of Zscaler stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total transaction of $898,040.90. Following the completion of the sale, the executive vice president 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,849 shares of Zscaler stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total transaction of $865,241.30. Following the sale, the chief executive officer directly owned 353,565 shares of the company's stock, valued at $107,377,690.50. This represents a 0.80% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,256 shares of company stock worth $50,618,544. Corporate insiders own 18.10% of the company's stock.

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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