Penserra Capital Management LLC Raises Holdings in Zscaler, Inc. (NASDAQ:ZS)

Penserra Capital Management LLC boosted its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 27.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 451,915 shares of the company's stock after acquiring an additional 97,205 shares during the period. Zscaler comprises about 1.6% of Penserra Capital Management LLC's investment portfolio, making the stock its 9th biggest holding. Penserra Capital Management LLC owned about 0.29% of Zscaler worth $89,667,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. ORG Partners LLC grew its position in Zscaler by 284.8% in the first quarter. ORG Partners LLC now owns 127 shares of the company's stock worth $26,000 after buying an additional 94 shares during the last quarter. Summit Securities Group LLC acquired a new position in Zscaler in the fourth quarter worth approximately $27,000. Colonial Trust Co SC acquired a new position in Zscaler in the fourth quarter worth approximately $28,000. Goodman Advisory Group LLC acquired a new position in Zscaler in the first quarter worth approximately $29,000. Finally, Elequin Capital LP acquired a new position in Zscaler in the fourth quarter worth approximately $30,000. Institutional investors own 46.45% of the company's stock.

Wall Street Analyst Weigh In

ZS has been the topic of several research analyst reports. JMP Securities lifted their price objective on shares of Zscaler from $310.00 to $355.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 1st. Truist Financial reissued a "buy" rating and set a $300.00 target price (up previously from $260.00) on shares of Zscaler in a research note on Friday, May 30th. Piper Sandler reaffirmed a "neutral" rating and issued a $260.00 price objective (up previously from $235.00) on shares of Zscaler in a research note on Friday, May 30th. Canaccord Genuity Group set a $305.00 price objective on shares of Zscaler and gave the company a "buy" rating in a research note on Monday, June 2nd. Finally, 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 note on Friday, May 30th. Eight research 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's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $296.82.

Insider Buying and Selling at Zscaler

In other news, insider Syam Nair sold 4,064 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total value of $1,234,236.80. Following the sale, the insider directly owned 106,659 shares in the company, valued at $32,392,338.30. The trade was a 3.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Adam Geller sold 3,662 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were 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 owned 46,813 shares in the company, valued at approximately $14,358,483.36. This trade represents a 7.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 200,793 shares of company stock valued at $58,752,794 over the last quarter. 18.10% of the stock is owned by corporate insiders.

Zscaler Stock Performance

NASDAQ ZS opened at $314.75 on Friday. The stock has a fifty day moving average of $274.17 and a 200-day moving average of $223.83. The stock has a market capitalization of $49.00 billion, a P/E 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.

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