Zscaler, Inc. (NASDAQ:ZS) Shares Sold by ING Groep NV

ING Groep NV decreased its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 65.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,291 shares of the company's stock after selling 2,457 shares during the quarter. ING Groep NV's holdings in Zscaler were worth $256,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Raiffeisen Bank International AG increased its stake in shares of Zscaler by 7.2% in the 1st quarter. Raiffeisen Bank International AG now owns 33,149 shares of the company's stock valued at $6,866,000 after purchasing an additional 2,236 shares during the last quarter. Manchester Capital Management LLC increased its stake in shares of Zscaler by 23.0% in the 1st quarter. Manchester Capital Management LLC now owns 935 shares of the company's stock valued at $186,000 after acquiring an additional 175 shares in the last quarter. Scotia Capital Inc. raised its stake in Zscaler by 96.1% during the 1st quarter. Scotia Capital Inc. now owns 29,031 shares of the company's stock worth $5,760,000 after buying an additional 14,224 shares during the period. Malaga Cove Capital LLC lifted its stake in shares of 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 buying an additional 1,609 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its position in Zscaler by 1,136.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 27,083 shares of the company's stock valued at $5,374,000 after buying an additional 24,892 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.

Insider Activity at Zscaler

In other news, insider Syam Nair sold 28,947 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the transaction, the insider directly owned 110,566 shares in the company, valued at $27,641,500. The trade was a 20.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Ajay Mangal sold 120,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $300.89, for a total value of $36,106,800.00. Following the completion of the sale, the insider directly owned 2,550,210 shares of the company's stock, valued at $767,332,686.90. This represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 200,793 shares of company stock worth $58,752,794 in the last 90 days. Corporate insiders own 18.10% of the company's stock.

Wall Street Analyst Weigh In

ZS has been the subject of a number of recent research reports. Royal Bank Of Canada raised their target price on Zscaler from $288.00 to $304.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. JMP Securities raised their target price on Zscaler from $310.00 to $355.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 1st. Truist Financial restated a "buy" rating and issued a $300.00 price objective (up previously from $260.00) on shares of Zscaler in a report on Friday, May 30th. Wall Street Zen upgraded shares of Zscaler from a "hold" rating to a "buy" rating in a research report on Sunday, June 8th. Finally, Wedbush lifted their target price on Zscaler from $240.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $296.82.

Zscaler Price Performance

ZS stock traded down $2.80 during trading on Friday, hitting $269.70. 1,673,452 shares of the company traded hands, compared to its average volume of 1,685,475. The company has a market cap of $41.99 billion, a PE ratio of -1,037.31, a P/E/G ratio of 244.31 and a beta of 1.06. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $318.46. The stock's 50-day simple moving average is $297.39 and its 200 day simple moving average is $241.36.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its earnings results 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 company had revenue of $678.03 million for the quarter, compared to analyst estimates of $667.13 million. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The firm's quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 earnings per share. Research analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current year.

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.