National Bank of Canada FI Has $5.49 Million Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

National Bank of Canada FI lessened its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 22.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,647 shares of the company's stock after selling 7,804 shares during the quarter. National Bank of Canada FI's holdings in Zscaler were worth $5,486,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. ORG Partners LLC increased its holdings in 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 purchasing an additional 94 shares during the last quarter. Colonial Trust Co SC bought a new stake in Zscaler in the fourth quarter valued at about $28,000. Goodman Advisory Group LLC bought a new stake in Zscaler in the first quarter valued at about $29,000. N.E.W. Advisory Services LLC bought a new stake in Zscaler in the first quarter valued at about $29,000. Finally, Elequin Capital LP bought a new stake in Zscaler in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Analyst Upgrades and Downgrades

ZS has been the subject of a number of recent analyst reports. Robert W. Baird upped 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. Canaccord Genuity Group set a $305.00 target price on Zscaler and gave the company a "buy" rating in a research note on Monday, June 2nd. Needham & Company LLC boosted their target price on Zscaler from $240.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Bank of America boosted their target price on Zscaler from $285.00 to $340.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Finally, Stifel Nicolaus boosted their target price on Zscaler from $270.00 to $295.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Zscaler presently has an average rating of "Moderate Buy" and an average target price of $296.82.

Insider Activity at Zscaler

In related news, insider Syam Nair sold 28,947 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the sale, the insider owned 110,566 shares of the company's stock, valued at $27,641,500. This represents a 20.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Ajay Mangal sold 120,000 shares of the stock in a transaction that occurred on 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 sale, the insider directly owned 2,550,210 shares in the company, valued at $767,332,686.90. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 200,793 shares of company stock valued at $58,752,794 in the last 90 days. Corporate insiders own 18.10% of the company's stock.

Zscaler Trading Up 0.8%

Shares of NASDAQ ZS opened at $277.77 on Thursday. The firm has a market cap of $43.25 billion, a P/E ratio of -1,068.35, a price-to-earnings-growth ratio of 246.94 and a beta of 1.06. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $318.46. The business's 50 day moving average is $296.18 and its 200-day moving average is $243.05.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.08. The company had revenue of $678.03 million for the quarter, compared to analyst estimates of $667.13 million. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The firm's quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 earnings per share. Analysts forecast that Zscaler, Inc. will post -0.1 EPS for the current year.

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.

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