Keybank National Association OH Has $61.66 Million Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Keybank National Association OH grew its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 8.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 310,752 shares of the company's stock after buying an additional 24,252 shares during the period. Keybank National Association OH owned 0.20% of Zscaler worth $61,659,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in Zscaler by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock valued at $298,710,000 after acquiring an additional 32,545 shares during the period. Pictet Asset Management Holding SA grew its position in shares of Zscaler by 25.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock valued at $291,935,000 after purchasing an additional 332,307 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Zscaler by 120.1% in the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock valued at $173,921,000 after purchasing an additional 525,956 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in shares of 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 purchasing an additional 204,996 shares during the period. Finally, DnB Asset Management AS increased its stake in shares of 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 purchasing an additional 267,162 shares during the period. 46.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ZS. Royal Bank Of Canada increased their price target on Zscaler from $288.00 to $304.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Wells Fargo & Company raised Zscaler from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $260.00 to $385.00 in a report on Friday, June 13th. Stephens restated an "overweight" rating and issued a $255.00 price target on shares of Zscaler in a research report on Tuesday, May 27th. Morgan Stanley boosted their price target on Zscaler from $200.00 to $280.00 and gave the company an "equal weight" rating in a research note on Friday, May 30th. Finally, Scotiabank increased their price objective on shares of Zscaler from $310.00 to $360.00 and gave the stock a "sector outperform" rating in a research note on Friday, June 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $296.82.

Insider Activity

In other Zscaler news, 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 sale, the insider owned 110,566 shares of the company's stock, valued at approximately $27,641,500. This represents a 20.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ajay Mangal sold 120,000 shares of the business's stock in a transaction dated 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 transaction, the insider directly owned 2,550,210 shares in the company, 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. In the last quarter, insiders have sold 200,793 shares of company stock worth $58,752,794. 18.10% of the stock is owned by insiders.

Zscaler Price Performance

NASDAQ ZS traded up $2.01 on Wednesday, reaching $309.33. The company had a trading volume of 1,632,826 shares, compared to its average volume of 2,063,237. The firm has a market cap of $48.16 billion, a price-to-earnings ratio of -1,189.73 and a beta of 1.11. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $317.26. The business has a 50 day moving average of $267.92 and a two-hundred day moving average of $221.41.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. The company had revenue of $678.03 million during the quarter, compared to analysts' expectations of $667.13 million. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The business's quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. As a group, research 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.