Zscaler, Inc. (NASDAQ:ZS) Shares Bought by Private Advisor Group LLC

Private Advisor Group LLC increased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 8.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,904 shares of the company's stock after acquiring an additional 2,515 shares during the quarter. Private Advisor Group LLC's holdings in Zscaler were worth $6,330,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ZS. AQR Capital Management LLC increased its position in shares of Zscaler by 120.1% in the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock valued at $173,921,000 after purchasing an additional 525,956 shares during the last quarter. Natixis purchased a new stake in shares of Zscaler in the 4th quarter valued at approximately $87,775,000. Greenvale Capital LLP purchased a new stake in shares of Zscaler in the 4th quarter valued at approximately $72,164,000. Pictet Asset Management Holding SA increased its position in shares of Zscaler by 25.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock valued at $291,935,000 after purchasing an additional 332,307 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Zscaler by 148.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 474,431 shares of the company's stock valued at $94,137,000 after buying an additional 283,637 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,849 shares of the firm's stock in a transaction 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 transaction, the chief executive officer owned 353,565 shares in the company, valued at approximately $107,377,690.50. This trade represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Syam Nair sold 4,064 shares of Zscaler stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total value of $1,234,236.80. Following the completion of the transaction, the insider owned 106,659 shares in the company, valued at $32,392,338.30. This trade represents a 3.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 200,793 shares of company stock valued at $58,752,794. 18.10% of the stock is owned by company insiders.

Zscaler Trading Down 0.7%

NASDAQ ZS traded down $1.97 during mid-day trading on Thursday, hitting $281.40. The company's stock had a trading volume of 284,566 shares, compared to its average volume of 2,252,219. The firm has a market capitalization of $43.81 billion, a price-to-earnings ratio of -1,084.50 and a beta of 1.11. The company's 50 day simple moving average is $289.52 and its 200 day simple moving average is $233.09. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $318.46.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ZS shares. BMO Capital Markets boosted their target price on shares of Zscaler from $233.00 to $295.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Morgan Stanley boosted their target price on shares of Zscaler from $200.00 to $280.00 and gave the stock an "equal weight" rating in a research report on Friday, May 30th. Rosenblatt Securities upped their price target on shares of Zscaler from $235.00 to $315.00 and gave the company a "buy" rating in a report on Friday, May 30th. Piper Sandler reissued a "neutral" rating and set a $260.00 target price (up from $235.00) on shares of Zscaler in a report on Friday, May 30th. Finally, Cantor Fitzgerald upped their price target on shares of Zscaler from $290.00 to $340.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Zscaler presently has a consensus rating of "Moderate Buy" and an average target price of $296.82.

Zscaler Company 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.