Optas LLC Grows Position in Zscaler, Inc. (NASDAQ:ZS)

Optas LLC increased its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 103.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,989 shares of the company's stock after purchasing an additional 1,519 shares during the period. Optas LLC's holdings in Zscaler were worth $593,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. LaFleur & Godfrey LLC lifted its holdings in Zscaler by 0.6% in the fourth quarter. LaFleur & Godfrey LLC now owns 61,985 shares of the company's stock valued at $11,183,000 after acquiring an additional 399 shares during the period. Yousif Capital Management LLC acquired a new stake in shares of Zscaler in the fourth quarter valued at about $214,000. Stonebridge Financial Group LLC purchased a new stake in Zscaler during the fourth quarter worth about $29,000. Van ECK Associates Corp grew its position in Zscaler by 92.7% during the fourth quarter. Van ECK Associates Corp now owns 29,051 shares of the company's stock worth $5,241,000 after buying an additional 13,978 shares during the period. Finally, Asset Management One Co. Ltd. increased its holdings in Zscaler by 0.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 77,298 shares of the company's stock valued at $14,266,000 after buying an additional 432 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ZS has been the subject of several research reports. Scotiabank lifted their price target on Zscaler from $310.00 to $360.00 and gave the stock a "sector outperform" rating in a research note on Friday, June 6th. Robert W. Baird lifted their target price on shares of Zscaler from $295.00 to $315.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Loop Capital increased their price target on shares of Zscaler from $250.00 to $260.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Mizuho lifted their price objective on Zscaler from $275.00 to $290.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 4th. Finally, Evercore ISI upped their target price on Zscaler from $245.00 to $290.00 and gave the company an "outperform" rating in a research note 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's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $292.38.

Zscaler Stock Up 0.2%

Shares of ZS traded up $0.52 during trading hours on Friday, hitting $301.95. 2,065,800 shares of the company were exchanged, compared to its average volume of 2,051,527. The company has a market cap of $47.01 billion, a price-to-earnings ratio of -1,207.80 and a beta of 1.09. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $306.78. The firm's fifty day moving average is $241.25 and its 200 day moving average is $212.77.

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

Insider Transactions at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of Zscaler stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the sale, the chief executive officer now owns 356,414 shares in the company, valued at $70,979,848.10. The trade was a 0.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Syam Nair sold 28,947 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the sale, the insider now owns 110,566 shares of the company's stock, valued at $27,641,500. This trade represents a 20.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 386,722 shares of company stock worth $93,690,448 over the last ninety days. 18.10% of the stock is owned by 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.