Kestra Private Wealth Services LLC Increases Stake in Zscaler, Inc. (NASDAQ:ZS)

Kestra Private Wealth Services LLC grew its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 41.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,461 shares of the company's stock after acquiring an additional 2,481 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Zscaler were worth $1,679,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its stake in Zscaler by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock worth $298,710,000 after purchasing an additional 32,545 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in Zscaler by 25.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock worth $291,935,000 after acquiring an additional 332,307 shares during the period. AQR Capital Management LLC grew its holdings in 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 acquiring an additional 525,956 shares during the period. Artisan Partners Limited Partnership grew its holdings in Zscaler by 30.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock worth $156,739,000 after acquiring an additional 204,996 shares during the period. Finally, DnB Asset Management AS grew its holdings in Zscaler by 66.8% during the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock worth $120,403,000 after acquiring an additional 267,162 shares during the period. 46.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,849 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total transaction of $865,241.30. Following the sale, the chief executive officer owned 353,565 shares of the company's stock, valued at approximately $107,377,690.50. The trade was a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Adam Geller sold 3,662 shares of the business's stock in a transaction on 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 sale, the insider directly owned 46,813 shares in the company, valued at approximately $14,358,483.36. The trade was 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.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Roth Capital reiterated a "neutral" rating on shares of Zscaler in a research note on Wednesday, May 28th. Bank of America increased their target price on Zscaler from $285.00 to $340.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Rosenblatt Securities increased their target price on Zscaler from $235.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Morgan Stanley raised their price target on Zscaler from $200.00 to $280.00 and gave the stock an "equal weight" rating in a report on Friday, May 30th. Finally, Cantor Fitzgerald raised their price target on Zscaler from $290.00 to $340.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Eight 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $296.82.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $285.71 on Wednesday. The stock has a market capitalization of $44.49 billion, a price-to-earnings ratio of -1,098.88 and a beta of 1.11. The business has a 50-day moving average of $287.76 and a 200-day moving average of $232.00. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $318.46.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $667.13 million. During the same quarter last year, the company posted $0.88 earnings per share. Zscaler's quarterly revenue was up 22.6% on a year-over-year basis. On average, sell-side analysts expect that Zscaler, Inc. will post -0.1 EPS 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.

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