Mirae Asset Global Investments Co. Ltd. Raises Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,232 shares of the company's stock after purchasing an additional 5,228 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Zscaler were worth $10,198,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Zscaler by 2.0% during the fourth 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 raised 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 acquiring an additional 332,307 shares during the last quarter. AQR Capital Management LLC lifted its position in Zscaler by 120.1% during the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock worth $173,921,000 after acquiring an additional 525,956 shares during the period. Artisan Partners Limited Partnership grew its stake in Zscaler by 30.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock valued at $156,739,000 after purchasing an additional 204,996 shares during the last quarter. Finally, DnB Asset Management AS increased its holdings in shares of Zscaler by 66.8% in the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock valued at $120,403,000 after purchasing an additional 267,162 shares during the period. Institutional investors and hedge funds own 46.45% of the company's stock.

Insider Activity at Zscaler

In other Zscaler news, insider Robert Schlossman sold 3,174 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $305.07, for a total value of $968,292.18. Following the transaction, the insider directly owned 88,970 shares of the company's stock, valued at $27,142,077.90. This trade represents a 3.44% decrease in their position. 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 the business'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 value of $1,123,208.64. Following the transaction, the insider owned 46,813 shares in the company, valued at approximately $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 have sold a total of 200,793 shares of company stock worth $58,752,794 over the last 90 days. Corporate insiders own 18.10% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ZS. Bank of America raised their price objective on Zscaler from $285.00 to $340.00 and gave the stock a "buy" rating in a research note on Monday, June 9th. Rosenblatt Securities increased their price target on shares of Zscaler from $235.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Jefferies Financial Group decreased their price objective on shares of Zscaler from $245.00 to $240.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Stephens reaffirmed an "overweight" rating and issued a $255.00 price objective on shares of Zscaler in a report on Tuesday, May 27th. Finally, KeyCorp raised their target price on shares of Zscaler from $290.00 to $310.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Eight analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $296.82.

Zscaler Price Performance

ZS stock traded up $2.01 during trading on Wednesday, hitting $309.33. The stock had a trading volume of 1,632,826 shares, compared to its average volume of 2,064,590. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $317.26. The company's 50-day moving average price is $267.92 and its two-hundred day moving average price is $221.41. The stock has a market capitalization of $48.16 billion, a P/E ratio of -1,189.73 and a beta of 1.11.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping 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 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 business's revenue was up 22.6% on a year-over-year basis. As a group, sell-side analysts expect that Zscaler, Inc. will post -0.1 EPS for the current fiscal 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.