OVERSEA CHINESE BANKING Corp Ltd Buys 24,892 Shares of Zscaler, Inc. (NASDAQ:ZS)

OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 1,136.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,083 shares of the company's stock after acquiring an additional 24,892 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Zscaler were worth $5,374,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. GAMMA Investing LLC boosted its position in shares of Zscaler by 43.1% in the first quarter. GAMMA Investing LLC now owns 641 shares of the company's stock worth $127,000 after buying an additional 193 shares during the period. Allworth Financial LP boosted its position in shares of Zscaler by 47.4% in the first quarter. Allworth Financial LP now owns 1,002 shares of the company's stock worth $211,000 after buying an additional 322 shares during the period. Krane Funds Advisors LLC boosted its position in shares of Zscaler by 36.4% in the first quarter. Krane Funds Advisors LLC now owns 1,667 shares of the company's stock worth $331,000 after buying an additional 445 shares during the period. Merit Financial Group LLC boosted its position in shares of Zscaler by 42.0% in the first quarter. Merit Financial Group LLC now owns 6,197 shares of the company's stock worth $1,230,000 after buying an additional 1,832 shares during the period. Finally, Arlington Capital Management Inc. acquired a new stake in shares of Zscaler in the fourth quarter worth $2,107,000. 46.45% of the stock is owned by institutional investors.

Insider Transactions at Zscaler

In other news, insider Adam Geller sold 3,662 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $306.72, for a total transaction of $1,123,208.64. Following the completion of the transaction, the insider directly owned 46,813 shares in the company, valued at $14,358,483.36. This represents a 7.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Syam Nair sold 28,947 shares of the stock in a transaction dated 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 transaction, the insider owned 110,566 shares of the company's stock, valued at approximately $27,641,500. This represents a 20.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 200,793 shares of company stock worth $58,752,794. Company insiders own 18.10% of the company's stock.

Zscaler Stock Up 0.5%

Shares of ZS traded up $1.35 during trading hours on Friday, reaching $287.64. The stock had a trading volume of 1,258,269 shares, compared to its average volume of 2,065,927. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $318.46. The firm has a 50-day moving average of $286.65 and a 200 day moving average of $230.55. The company has a market cap of $44.79 billion, a P/E ratio of -1,106.70 and a beta of 1.11.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.08. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The business had revenue of $678.03 million during the quarter, compared to analysts' expectations of $667.13 million. During the same quarter in the prior year, the company earned $0.88 EPS. The firm's quarterly revenue was up 22.6% on a year-over-year basis. As a group, equities analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

ZS has been the topic of several recent research reports. Oppenheimer raised their target price on Zscaler from $290.00 to $345.00 and gave the company an "outperform" rating in a report on Friday, June 6th. BNP Paribas upgraded Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 target price on the stock in a report on Monday, April 28th. JMP Securities raised their target price on Zscaler from $310.00 to $355.00 and gave the company a "market outperform" rating in a report on Tuesday, July 1st. Needham & Company LLC raised their target price on Zscaler from $240.00 to $310.00 and gave the company a "buy" rating in a report on Friday, May 30th. Finally, Rosenblatt Securities raised their target price on Zscaler from $235.00 to $315.00 and gave the company a "buy" rating in a report on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $296.82.

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.