Mn Services Vermogensbeheer B.V. Sells 2,700 Shares of Zscaler, Inc. (NASDAQ:ZS)

Mn Services Vermogensbeheer B.V. lessened its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,300 shares of the company's stock after selling 2,700 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Zscaler were worth $6,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Optas LLC lifted its stake in Zscaler by 103.3% during the 1st quarter. Optas LLC now owns 2,989 shares of the company's stock valued at $593,000 after acquiring an additional 1,519 shares during the period. Dynamic Advisor Solutions LLC bought a new position in Zscaler in the 1st quarter worth approximately $1,585,000. Wealth Enhancement Advisory Services LLC boosted its stake in Zscaler by 10.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,072 shares of the company's stock worth $4,975,000 after purchasing an additional 2,378 shares during the period. Matauro LLC bought a new position in Zscaler in the 1st quarter worth approximately $1,502,000. Finally, CVA Family Office LLC boosted its stake in Zscaler by 120.3% in the 1st quarter. CVA Family Office LLC now owns 152 shares of the company's stock worth $30,000 after purchasing an additional 83 shares during the period. Hedge funds and other institutional investors own 46.45% of the company's stock.

Zscaler Trading Up 1.0%

Shares of Zscaler stock opened at $305.02 on Tuesday. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $309.19. The stock's fifty day moving average price is $243.81 and its 200-day moving average price is $213.51. The firm has a market cap of $47.49 billion, a P/E ratio of -1,220.08 and a beta of 1.09.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.08. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The company 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 company earned $0.88 earnings per share. The firm's revenue for the quarter was up 22.6% compared to the same quarter last year. Analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ZS. Jefferies Financial Group lowered their target price on Zscaler from $245.00 to $240.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Royal Bank of Canada increased their target price on Zscaler from $288.00 to $304.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Piper Sandler restated a "neutral" rating and issued a $260.00 price target (up from $235.00) on shares of Zscaler in a research report on Friday, May 30th. Oppenheimer raised their price target on Zscaler from $290.00 to $345.00 and gave the stock an "outperform" rating in a research report on Friday, June 6th. Finally, Barclays raised their price target on Zscaler from $275.00 to $290.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Eight 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $294.03.

Insider Activity at Zscaler

In other Zscaler news, major shareholder Ajay Mangal sold 120,000 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $300.89, for a total value of $36,106,800.00. Following the completion of the sale, the insider now owns 2,550,210 shares of the company's stock, valued at approximately $767,332,686.90. This trade represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Schlossman sold 3,590 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $250.00, for a total value of $897,500.00. Following the completion of the sale, the insider now directly owns 100,230 shares of the company's stock, valued at approximately $25,057,500. This represents a 3.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 187,488 shares of company stock valued at $53,719,658 over the last quarter. 18.10% of the stock is owned by corporate insiders.

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.

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