GAMMA Investing LLC Acquires 126,739 Shares of Zscaler, Inc. (NASDAQ:ZS)

GAMMA Investing LLC lifted its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 28,290.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 127,187 shares of the company's stock after buying an additional 126,739 shares during the period. GAMMA Investing LLC owned 0.08% of Zscaler worth $25,236,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC boosted 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 acquiring an additional 525,956 shares during the period. Natixis bought a new stake in shares of Zscaler in the 4th quarter worth approximately $87,775,000. Greenvale Capital LLP acquired a new position in Zscaler during the 4th quarter valued at approximately $72,164,000. Pictet Asset Management Holding SA grew 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 buying an additional 332,307 shares during the last quarter. Finally, DnB Asset Management AS increased its position in 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 buying an additional 267,162 shares during the period. Institutional investors own 46.45% of the company's stock.

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the sale, the chief executive officer now owns 356,414 shares of the company's stock, valued at approximately $70,979,848.10. This trade represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew William Fraser Brown sold 20,333 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $296.72, for a total value of $6,033,207.76. Following the completion of the transaction, the director now owns 27,216 shares in the company, valued at $8,075,531.52. This trade represents a 42.76% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 266,722 shares of company stock valued at $57,583,648. Company insiders own 18.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Guggenheim reissued a "neutral" rating on shares of Zscaler in a report on Friday, May 30th. Royal Bank of Canada lifted their price objective on shares of Zscaler from $288.00 to $304.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Mizuho boosted 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. The Goldman Sachs Group set a $207.00 price objective on Zscaler and gave the stock a "neutral" rating in a research report on Thursday, March 6th. Finally, JMP Securities increased their price objective on Zscaler from $240.00 to $310.00 and gave the stock a "market outperform" rating in a report on Friday, May 30th. Ten analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Zscaler has a consensus rating of "Moderate Buy" and an average price target of $283.85.

Zscaler Price Performance

NASDAQ ZS traded up $2.15 on Friday, hitting $303.03. 3,015,332 shares of the company were exchanged, compared to its average volume of 2,068,719. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $306.71. The firm has a market capitalization of $46.89 billion, a P/E ratio of -1,212.12 and a beta of 1.14. The company's 50 day moving average price is $227.81 and its 200-day moving average price is $208.86.

Zscaler (NASDAQ:ZS - Get Free Report) last released its earnings results 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. The business had revenue of $678.03 million for the quarter, compared to the consensus estimate of $667.13 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm's quarterly revenue was up 22.6% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. As a group, equities analysts expect that Zscaler, Inc. will post -0.1 EPS for the current year.

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.