Penserra Capital Management LLC Buys 97,205 Shares of Zscaler, Inc. (NASDAQ:ZS)

Penserra Capital Management LLC increased its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 27.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 451,915 shares of the company's stock after acquiring an additional 97,205 shares during the period. Zscaler makes up about 1.6% of Penserra Capital Management LLC's holdings, making the stock its 9th largest holding. Penserra Capital Management LLC owned about 0.29% of Zscaler worth $89,667,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of ZS. Smartleaf Asset Management LLC raised its holdings in shares of Zscaler by 16.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the company's stock valued at $88,000 after purchasing an additional 69 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Zscaler by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 377,725 shares of the company's stock valued at $68,145,000 after buying an additional 22,655 shares in the last quarter. M&T Bank Corp raised its stake in Zscaler by 3.3% in the fourth quarter. M&T Bank Corp now owns 3,460 shares of the company's stock valued at $624,000 after buying an additional 112 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Zscaler in the fourth quarter valued at $5,305,000. Finally, Arizona State Retirement System raised its stake in Zscaler by 2.2% in the fourth quarter. Arizona State Retirement System now owns 26,562 shares of the company's stock valued at $4,792,000 after buying an additional 579 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Stock Performance

Shares of ZS stock traded up $5.42 on Friday, hitting $314.75. The stock had a trading volume of 1,367,890 shares, compared to its average volume of 2,068,139. The firm has a market capitalization of $49.00 billion, a price-to-earnings ratio of -1,210.56 and a beta of 1.11. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $317.26. The stock's 50 day moving average is $274.17 and its 200-day moving average is $223.83.

Zscaler (NASDAQ:ZS - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.84 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 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 business posted $0.88 EPS. Zscaler's quarterly revenue was up 22.6% compared to the same quarter last year. Equities analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jagtar Singh Chaudhry sold 2,849 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total transaction of $865,241.30. Following the sale, the chief executive officer owned 353,565 shares of the company's stock, valued at $107,377,690.50. The trade was a 0.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam Geller sold 3,662 shares of the business's stock in a transaction 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 completion of the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 200,793 shares of company stock valued at $58,752,794 in the last three months. 18.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ZS. Roth Capital reiterated a "neutral" rating on shares of Zscaler in a research note on Wednesday, May 28th. BTIG Research boosted their price target on shares of Zscaler from $298.00 to $329.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Wells Fargo & Company raised Zscaler from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $260.00 to $385.00 in a report on Friday, June 13th. BMO Capital Markets upped their price target on Zscaler from $233.00 to $295.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Finally, KeyCorp increased their price objective on shares of Zscaler from $290.00 to $310.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Zscaler currently has an average rating of "Moderate Buy" and an average 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.