J. Safra Sarasin Holding AG Has $4.88 Million Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Zscaler, Inc. by 15.1%, ending the first quarter with 24,605 shares valued at approximately $4.88 million.
• Several institutional investors, including OVERSEA CHINESE BANKING Corp Ltd, significantly increased their holdings in Zscaler during the same period, indicating growing confidence in the company.
• Zscaler reported a 22.6% year-over-year revenue increase with earnings of $0.84 EPS for the last quarter, surpassing analyst expectations and leading to revised price targets from multiple analysts.

J. Safra Sarasin Holding AG lowered its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,605 shares of the company's stock after selling 4,378 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Zscaler were worth $4,882,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of Zscaler by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock valued at $298,710,000 after buying an additional 32,545 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Zscaler by 120.1% during the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock worth $173,921,000 after purchasing an additional 525,956 shares during the period. Northern Trust Corp boosted its holdings in shares of Zscaler by 23.1% during the fourth quarter. Northern Trust Corp now owns 638,042 shares of the company's stock worth $115,109,000 after purchasing an additional 119,536 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Zscaler by 10.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 531,395 shares of the company's stock worth $96,008,000 after purchasing an additional 50,867 shares during the period. Finally, Natixis purchased a new stake in shares of Zscaler during the fourth quarter worth about $87,775,000. Institutional investors own 46.45% of the company's stock.

Zscaler Stock Performance

Zscaler stock traded down $1.91 during midday trading on Tuesday, hitting $283.96. 157,964 shares of the company's stock were exchanged, compared to its average volume of 2,220,754. Zscaler, Inc. has a 12-month low of $153.45 and a 12-month high of $318.46. The stock has a market cap of $44.21 billion, a price-to-earnings ratio of -1,090.73, a price-to-earnings-growth ratio of 240.75 and a beta of 1.06. The firm's 50 day simple moving average is $295.84 and its 200 day simple moving average is $239.60.

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

Insiders Place Their Bets

In other Zscaler news, Director Andrew William Fraser Brown sold 20,333 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $296.72, for a total transaction of $6,033,207.76. Following the completion of the sale, the director directly owned 27,216 shares in the company, valued at $8,075,531.52. The trade was a 42.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Syam Nair sold 28,947 shares of the company's stock in a transaction on 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 completion of the transaction, the insider owned 110,566 shares of the company's stock, valued at $27,641,500. This trade represents a 20.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 200,793 shares of company stock valued at $58,752,794. 18.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on ZS. Oppenheimer lifted their target price on shares of Zscaler from $290.00 to $345.00 and gave the stock an "outperform" rating in a research report on Friday, June 6th. UBS Group lifted their target price on shares of Zscaler from $315.00 to $365.00 and gave the company a "buy" rating in a research note on Friday, June 27th. BNP Paribas upgraded shares of Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 target price on the stock in a research note on Monday, April 28th. Barclays lifted their target price on shares of Zscaler from $275.00 to $290.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Finally, BTIG Research restated a "buy" rating on shares of Zscaler in a research note on Thursday, July 10th. Seven investment 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 company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $296.82.

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.