Mackenzie Financial Corp Raises Stake in Zscaler, Inc. (NASDAQ:ZS)

Key Points

• Mackenzie Financial Corp increased its stake in Zscaler, Inc. by 17.9%, owning 6,326 shares worth approximately $1,255,000 as of the end of the first quarter.
• Multiple institutional investors also adjusted their positions in Zscaler, with ORG Partners LLC raising its holdings by 284.8%, and various others acquiring new stakes valued between $26,000 and $30,000.
• Analysts have a consensus rating of "Moderate Buy" for Zscaler, with an average target price of $296.82, reflecting a generally positive outlook on the company's stock performance.

Mackenzie Financial Corp grew its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 17.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,326 shares of the company's stock after purchasing an additional 960 shares during the quarter. Mackenzie Financial Corp's holdings in Zscaler were worth $1,255,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. ORG Partners LLC raised its holdings in shares of Zscaler by 284.8% in the first quarter. ORG Partners LLC now owns 127 shares of the company's stock valued at $26,000 after acquiring an additional 94 shares in the last quarter. Colonial Trust Co SC bought a new stake in shares of Zscaler in the fourth quarter valued at about $28,000. Goodman Advisory Group LLC bought a new stake in shares of Zscaler in the first quarter valued at about $29,000. Elequin Capital LP bought a new stake in shares of Zscaler in the fourth quarter valued at about $30,000. Finally, CVA Family Office LLC raised its holdings in shares of Zscaler by 120.3% in the first quarter. CVA Family Office LLC now owns 152 shares of the company's stock valued at $30,000 after acquiring an additional 83 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zscaler

In other news, insider Adam Geller sold 3,662 shares of the company's stock in a transaction that occurred 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 completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert Schlossman sold 4,618 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $300.00, for a total value of $1,385,400.00. Following the transaction, the insider directly owned 95,612 shares of the company's stock, valued at approximately $28,683,600. The trade was a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 200,793 shares of company stock worth $58,752,794. 18.10% of the stock is currently owned by corporate insiders.

Zscaler Stock Up 2.0%

Shares of NASDAQ ZS opened at $285.86 on Tuesday. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $318.46. The business's 50 day moving average price is $295.84 and its 200 day moving average price is $239.60. The firm has a market cap of $44.51 billion, a P/E ratio of -1,099.46, a P/E/G ratio of 240.75 and a beta of 1.06.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $667.13 million. During the same quarter in the prior year, the firm posted $0.88 EPS. The business's quarterly revenue was up 22.6% compared to the same quarter last year. As a group, research analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Roth Capital restated a "neutral" rating on shares of Zscaler in a report on Wednesday, May 28th. BTIG Research restated a "buy" rating on shares of Zscaler in a report on Thursday, July 10th. Needham & Company LLC lifted their price objective on Zscaler from $240.00 to $310.00 and gave the company a "buy" rating in a report on Friday, May 30th. BNP Paribas upgraded shares of Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 target price for the company in a report on Monday, April 28th. Finally, Bank of America boosted their target price on shares of Zscaler from $285.00 to $340.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Seven 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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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