Ieq Capital LLC Has $12.09 Million Stock Holdings in Zscaler, Inc. $ZS

Key Points

• Ieq Capital LLC increased its stake in Zscaler, Inc. by 20.7% during Q1, owning 60,920 shares valued at approximately $12.09 million as of the latest filing.
• Several analysts have raised their price targets for Zscaler, with Bank of America increasing its target from $285 to $340, reflecting positive sentiment about the company's performance.
• Insider trading activity shows that two insiders sold shares worth approximately $2.6 million recently, indicating a 4.61% decrease in their positions.

Ieq Capital LLC increased its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 20.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,920 shares of the company's stock after acquiring an additional 10,463 shares during the period. Ieq Capital LLC's holdings in Zscaler were worth $12,088,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Zscaler by 6.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 186,781 shares of the company's stock valued at $33,704,000 after purchasing an additional 12,108 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Zscaler in the 4th quarter valued at approximately $216,000. Susquehanna Fundamental Investments LLC bought a new position in Zscaler in the 4th quarter valued at approximately $783,000. Beacon Pointe Advisors LLC lifted its stake in Zscaler by 2.2% in the 4th quarter. Beacon Pointe Advisors LLC now owns 11,889 shares of the company's stock valued at $2,145,000 after purchasing an additional 261 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Zscaler by 23.1% in the 4th 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 during the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.

Analyst Ratings Changes

ZS has been the subject of several analyst reports. Loop Capital raised their price target on shares of Zscaler from $250.00 to $260.00 and gave the company a "hold" rating in a research note on Friday, May 30th. Stifel Nicolaus raised their price target on shares of Zscaler from $270.00 to $295.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Bank of America raised 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. Robert W. Baird raised their price target on shares of Zscaler from $295.00 to $315.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Finally, JMP Securities raised their price target 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 equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $296.49.

Insider Activity

In other Zscaler news, insider Robert Schlossman sold 4,618 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $300.00, for a total value of $1,385,400.00. Following the completion of the sale, the insider owned 95,612 shares in the company, valued at approximately $28,683,600. This trade represents a 4.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Syam Nair sold 4,064 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total transaction of $1,234,236.80. Following the sale, the insider owned 106,659 shares of the company's stock, valued at $32,392,338.30. This trade represents a 3.67% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 168,256 shares of company stock valued at $50,618,544. 18.10% of the stock is currently owned by insiders.

Zscaler Trading Up 2.0%

NASDAQ:ZS opened at $273.07 on Thursday. The stock has a market capitalization of $42.52 billion, a price-to-earnings ratio of -1,050.27, a PEG ratio of 285.53 and a beta of 1.06. The firm has a fifty day simple moving average of $290.22 and a two-hundred day simple moving average of $247.90. 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 data on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.08. The firm had revenue of $678.03 million during the quarter, compared to analysts' expectations of $667.13 million. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The business's revenue was up 22.6% on a year-over-year basis. During the same period last year, the company earned $0.88 earnings per share. Equities 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.

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