Generali Investments Towarzystwo Funduszy Inwestycyjnych Has $476,000 Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

Key Points

• Generali Investments Towarzystwo Funduszy Inwestycyjnych significantly reduced its stake in Zscaler, Inc. by 63.1%, selling 4,100 shares and retaining only 2,400 shares valued at approximately $476,000.
• Several institutional investors have recently adjusted their stakes in Zscaler, with ORG Partners LLC increasing their holdings by 284.8% during the first quarter.
• Analysts have a generally positive outlook on Zscaler, maintaining a "Moderate Buy" rating with an average price target of $296.82, following upgrades from multiple brokerages.

Generali Investments Towarzystwo Funduszy Inwestycyjnych cut its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 63.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,400 shares of the company's stock after selling 4,100 shares during the quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych's holdings in Zscaler were worth $476,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Manchester Capital Management LLC raised its position in Zscaler by 23.0% in the first quarter. Manchester Capital Management LLC now owns 935 shares of the company's stock worth $186,000 after acquiring an additional 175 shares in the last quarter. Scotia Capital Inc. grew its holdings in Zscaler by 96.1% in the first quarter. Scotia Capital Inc. now owns 29,031 shares of the company's stock valued at $5,760,000 after purchasing an additional 14,224 shares during the last quarter. Malaga Cove Capital LLC grew its holdings in Zscaler by 24.0% in the first quarter. Malaga Cove Capital LLC now owns 8,312 shares of the company's stock valued at $1,649,000 after purchasing an additional 1,609 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Zscaler by 1,136.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 27,083 shares of the company's stock valued at $5,374,000 after purchasing an additional 24,892 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Zscaler by 13.0% in the first quarter. PNC Financial Services Group Inc. now owns 7,420 shares of the company's stock valued at $1,472,000 after purchasing an additional 855 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Scotiabank upped their target price on Zscaler from $310.00 to $360.00 and gave the company a "sector outperform" rating in a report on Friday, June 6th. Rosenblatt Securities increased their price objective on Zscaler from $235.00 to $315.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Wall Street Zen raised Zscaler from a "hold" rating to a "buy" rating in a research note on Sunday, June 8th. JPMorgan Chase & Co. increased their price objective on Zscaler from $292.00 to $348.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Finally, Bank of America raised their price target on Zscaler from $285.00 to $340.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Seven equities 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $296.82.

Insider Buying and Selling at Zscaler

In related news, insider Syam Nair sold 4,064 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total value of $1,234,236.80. Following the completion of the sale, the insider owned 106,659 shares in the company, valued at approximately $32,392,338.30. This trade represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Adam Geller sold 3,662 shares of the firm's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $306.72, for a total transaction of $1,123,208.64. Following the transaction, the insider owned 46,813 shares of the company's stock, valued at approximately $14,358,483.36. This represents a 7.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 200,793 shares of company stock valued at $58,752,794 in the last quarter. Corporate insiders own 18.10% of the company's stock.

Zscaler Stock Down 1.1%

Shares of ZS traded down $3.08 during mid-day trading on Tuesday, reaching $282.78. The company's stock had a trading volume of 231,618 shares, compared to its average volume of 2,221,160. The business has a fifty day moving average of $295.84 and a 200 day moving average of $239.60. The company has a market cap of $44.03 billion, a price-to-earnings ratio of -1,087.60, a price-to-earnings-growth ratio of 240.75 and a beta of 1.06. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $318.46.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the company earned $0.88 earnings per share. Zscaler's quarterly revenue was up 22.6% compared to the same quarter last year. On average, analysts predict that Zscaler, Inc. will post -0.1 earnings per share for the current 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.