Liontrust Investment Partners LLP Has $7.70 Million Stake in Zscaler, Inc. $ZS

Key Points

• Liontrust Investment Partners LLP reduced its holdings in Zscaler, Inc. by 17.6% in the 1st quarter, leaving them with $7.70 million worth of shares after selling 8,274 shares.
• Several prominent hedge funds increased their positions in Zscaler during the same period, with Vanguard Group increasing its holdings by 3.1% and Goldman Sachs Group boosting theirs by 23.4%.
• Analysts have raised their target prices for Zscaler, with UBS Group setting a new target of $365.00, indicating a general consensus of a "Moderate Buy" rating among analysts.

Liontrust Investment Partners LLP trimmed its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 17.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,811 shares of the company's stock after selling 8,274 shares during the period. Liontrust Investment Partners LLP's holdings in Zscaler were worth $7,701,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Zscaler by 3.1% during the first quarter. Vanguard Group Inc. now owns 9,890,506 shares of the company's stock valued at $1,962,474,000 after purchasing an additional 294,034 shares during the period. Goldman Sachs Group Inc. raised its position in Zscaler by 23.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,048,238 shares of the company's stock valued at $604,831,000 after purchasing an additional 578,883 shares during the period. AQR Capital Management LLC raised its position in Zscaler by 120.1% during 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 period. Nuveen LLC purchased a new stake in Zscaler during the first quarter valued at approximately $153,340,000. Finally, Northern Trust Corp raised its position in Zscaler by 23.1% during the fourth quarter. Northern Trust Corp now owns 638,042 shares of the company's stock valued at $115,109,000 after purchasing an additional 119,536 shares during the period. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Syam Nair sold 4,064 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total value of $1,234,236.80. Following the completion of the sale, the insider directly owned 106,659 shares in the company, valued at approximately $32,392,338.30. This trade represents a 3.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Adam Geller sold 3,662 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $306.72, for a total value of $1,123,208.64. Following the sale, the insider directly owned 46,813 shares of the company's stock, valued at $14,358,483.36. This represents a 7.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,256 shares of company stock valued at $50,618,544 in the last quarter. 18.10% of the stock is currently owned by corporate insiders.

Zscaler Stock Up 1.5%

Shares of Zscaler stock traded up $3.98 during trading on Friday, reaching $274.97. 877,310 shares of the company were exchanged, compared to its average volume of 1,485,647. The business has a 50-day moving average price of $295.02 and a 200-day moving average price of $244.67. The firm has a market capitalization of $42.81 billion, a price-to-earnings ratio of -1,057.58, a P/E/G ratio of 246.53 and a beta of 1.06. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $318.46.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its 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. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The firm had revenue of $678.03 million during the quarter, compared to analysts' expectations of $667.13 million. During the same period in the previous year, the firm earned $0.88 earnings per share. The company's revenue was up 22.6% on a year-over-year basis. On average, equities research analysts forecast that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Analyst Ratings Changes

ZS has been the topic of several recent research reports. UBS Group increased their target price on Zscaler from $315.00 to $365.00 and gave the company a "buy" rating in a research report on Friday, June 27th. BMO Capital Markets raised their price objective on Zscaler from $233.00 to $295.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Stifel Nicolaus raised their price objective on Zscaler from $270.00 to $295.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. JMP Securities raised their price objective on Zscaler from $310.00 to $355.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 1st. Finally, Guggenheim reissued a "neutral" rating on shares of Zscaler in a research report on Friday, May 30th. Seven equities research 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $296.82.

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.