LaFleur & Godfrey LLC Increases Stake in Zscaler, Inc. (NASDAQ:ZS)

LaFleur & Godfrey LLC increased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,523 shares of the company's stock after buying an additional 1,538 shares during the period. Zscaler comprises 1.7% of LaFleur & Godfrey LLC's investment portfolio, making the stock its 19th largest holding. LaFleur & Godfrey LLC's holdings in Zscaler were worth $12,604,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ZS. Quintet Private Bank Europe S.A. grew its holdings in Zscaler by 4.7% during the 1st quarter. Quintet Private Bank Europe S.A. now owns 1,120 shares of the company's stock worth $222,000 after acquiring an additional 50 shares in the last quarter. Corebridge Financial Inc. grew its holdings in Zscaler by 0.5% during the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company's stock worth $2,110,000 after acquiring an additional 54 shares in the last quarter. Erste Asset Management GmbH grew its holdings in Zscaler by 0.6% during the 4th quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock worth $1,805,000 after acquiring an additional 56 shares in the last quarter. Ironwood Investment Management LLC grew its holdings in Zscaler by 1.0% during the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock worth $1,127,000 after acquiring an additional 64 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Zscaler by 16.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the company's stock worth $88,000 after acquiring an additional 69 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,849 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total value of $865,241.30. Following the sale, the chief executive officer now directly owns 353,565 shares of the company's stock, valued at approximately $107,377,690.50. This represents a 0.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam Geller sold 3,662 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $306.72, for a total transaction of $1,123,208.64. Following the completion of the sale, the insider now directly owns 46,813 shares in the company, valued at approximately $14,358,483.36. The trade was a 7.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 210,793 shares of company stock valued at $60,812,794. Insiders own 18.10% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on ZS shares. FBN Securities upgraded shares of Zscaler to a "strong-buy" rating in a report on Friday, May 30th. Wells Fargo & Company upgraded shares of Zscaler from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $260.00 to $385.00 in a report on Friday, June 13th. Loop Capital upped their target price on shares of Zscaler from $250.00 to $260.00 and gave the company a "hold" rating in a report on Friday, May 30th. The Goldman Sachs Group set a $207.00 target price on shares of Zscaler and gave the company a "neutral" rating in a report on Thursday, March 6th. Finally, Jefferies Financial Group lowered their target price on shares of Zscaler from $245.00 to $240.00 and set a "buy" rating for the company in a report on Monday, March 31st. Eight analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $294.03.

Zscaler Stock Up 2.5%

Shares of ZS opened at $310.46 on Tuesday. The company has a 50-day simple moving average of $254.50 and a 200-day simple moving average of $217.01. The company has a market capitalization of $48.34 billion, a PE ratio of -1,194.08 and a beta of 1.09. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $312.75.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly 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 business had revenue of $678.03 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 EPS. On average, research analysts anticipate that Zscaler, Inc. will post -0.1 EPS for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.