Lbp Am Sa Sells 39,579 Shares of Zscaler, Inc. (NASDAQ:ZS)

Lbp Am Sa reduced its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 10.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 327,399 shares of the company's stock after selling 39,579 shares during the quarter. Zscaler makes up about 1.0% of Lbp Am Sa's investment portfolio, making the stock its 19th largest holding. Lbp Am Sa owned approximately 0.21% of Zscaler worth $64,963,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ZS. Geode Capital Management LLC increased its stake in Zscaler by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock worth $298,710,000 after buying an additional 32,545 shares during the period. Pictet Asset Management Holding SA increased its stake in Zscaler by 25.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock worth $291,935,000 after buying an additional 332,307 shares during the period. AQR Capital Management LLC increased its stake in Zscaler by 120.1% in the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock worth $173,921,000 after buying an additional 525,956 shares during the period. Artisan Partners Limited Partnership increased its stake in Zscaler by 30.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock worth $156,739,000 after buying an additional 204,996 shares during the period. Finally, DnB Asset Management AS increased its stake in Zscaler by 66.8% in the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock worth $120,403,000 after buying an additional 267,162 shares during the period. 46.45% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Robert Schlossman sold 3,174 shares of Zscaler stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $305.07, for a total transaction of $968,292.18. Following the sale, the insider owned 88,970 shares of the company's stock, valued at $27,142,077.90. The trade was a 3.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,849 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total transaction of $865,241.30. Following the completion of the sale, the chief executive officer directly owned 353,565 shares of the company's stock, valued at $107,377,690.50. The trade was a 0.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 200,793 shares of company stock worth $58,752,794 over the last three months. 18.10% of the stock is currently owned by corporate insiders.

Zscaler Trading Down 1.0%

Shares of ZS stock opened at $312.44 on Wednesday. The company's fifty day simple moving average is $277.85 and its 200-day simple moving average is $225.62. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $318.46. The company has a market cap of $48.65 billion, a PE ratio of -1,201.69 and a beta of 1.11.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $678.03 million for the quarter, compared to the consensus estimate of $667.13 million. During the same quarter last year, the firm posted $0.88 EPS. The business's revenue for the quarter was up 22.6% compared to the same quarter last year. Equities research analysts expect that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wedbush increased their target price on shares of Zscaler from $240.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Roth Capital reiterated a "neutral" rating on shares of Zscaler in a report on Wednesday, May 28th. Stephens restated an "overweight" rating and issued a $255.00 price target on shares of Zscaler in a report on Tuesday, May 27th. KeyCorp raised their price target on shares of Zscaler from $290.00 to $310.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Finally, Morgan Stanley raised their price target on shares of Zscaler from $200.00 to $280.00 and gave the company an "equal weight" rating in a report on Friday, May 30th. Eight equities research 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 stock. Based on data from MarketBeat, the company 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.

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