MIG Capital LLC Purchases 2,672 Shares of Zscaler, Inc. $ZS

Key Points

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MIG Capital LLC lifted its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 146.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,497 shares of the company's stock after acquiring an additional 2,672 shares during the quarter. Zscaler makes up 0.1% of MIG Capital LLC's investment portfolio, making the stock its 26th largest position. MIG Capital LLC's holdings in Zscaler were worth $892,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fairscale Capital LLC bought a new position in Zscaler in the 1st quarter worth about $61,000. Brooklyn Investment Group boosted its position in shares of Zscaler by 15.7% during the 1st quarter. Brooklyn Investment Group now owns 745 shares of the company's stock valued at $148,000 after acquiring an additional 101 shares during the last quarter. Versor Investments LP bought a new stake in shares of Zscaler during the 1st quarter valued at about $353,000. United Capital Management of KS Inc. boosted its position in shares of Zscaler by 4.9% during the 1st quarter. United Capital Management of KS Inc. now owns 32,589 shares of the company's stock valued at $6,466,000 after acquiring an additional 1,508 shares during the last quarter. Finally, Ethic Inc. boosted its position in shares of Zscaler by 20.1% during the 1st quarter. Ethic Inc. now owns 4,973 shares of the company's stock valued at $1,000,000 after acquiring an additional 832 shares during the last quarter. Institutional investors own 46.45% of the company's stock.

Zscaler Stock Performance

Shares of ZS stock opened at $277.03 on Tuesday. The firm has a market cap of $43.13 billion, a P/E ratio of -1,065.50, a P/E/G ratio of 246.53 and a beta of 1.06. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $318.46. The business's 50 day moving average price is $294.56 and its 200-day moving average price is $245.19.

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

Insider Activity at Zscaler

In related news, insider Robert Schlossman sold 3,174 shares of Zscaler stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $305.07, for a total transaction of $968,292.18. Following the sale, the insider directly owned 88,970 shares in the company, valued at $27,142,077.90. The trade was a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Adam Geller sold 3,662 shares of Zscaler stock in a transaction that occurred 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 owned 46,813 shares in the company, valued at $14,358,483.36. This represents a 7.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,256 shares of company stock valued at $50,618,544 over the last ninety days. Insiders own 18.10% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wells Fargo & Company upgraded Zscaler from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $260.00 to $385.00 in a research report on Friday, June 13th. Mizuho raised their price objective on Zscaler from $275.00 to $290.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Canaccord Genuity Group set a $305.00 price objective on Zscaler and gave the company a "buy" rating in a report on Monday, June 2nd. Morgan Stanley raised their price objective on Zscaler from $200.00 to $280.00 and gave the company an "equal weight" rating in a report on Friday, May 30th. Finally, Robert W. Baird raised their price objective on Zscaler from $295.00 to $315.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Seven 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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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