QRG Capital Management Inc. Makes New Investment in Zscaler, Inc. (NASDAQ:ZS)

QRG Capital Management Inc. purchased a new stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,329 shares of the company's stock, valued at approximately $264,000.

Other hedge funds have also modified their holdings of the company. Summit Securities Group LLC acquired a new position in Zscaler during the fourth quarter valued at $27,000. CVA Family Office LLC raised its stake in shares of Zscaler by 120.3% during the 1st quarter. CVA Family Office LLC now owns 152 shares of the company's stock valued at $30,000 after buying an additional 83 shares during the last quarter. Colonial Trust Co SC acquired a new position in shares of Zscaler in the 4th quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Zscaler by 295.0% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 158 shares of the company's stock valued at $31,000 after buying an additional 118 shares during the period. Finally, Elequin Capital LP purchased a new stake in shares of Zscaler in the fourth quarter worth about $30,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Zscaler

In other Zscaler news, insider Adam Geller sold 3,662 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now owns 46,813 shares of the company's stock, valued at approximately $14,358,483.36. This trade represents a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew William Fraser Brown sold 10,000 shares of Zscaler stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the sale, the director now owns 27,216 shares in the company, valued at $5,606,496. This represents a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 210,793 shares of company stock valued at $60,812,794 over the last quarter. 18.10% of the stock is owned by insiders.

Zscaler Stock Up 2.5%

Zscaler stock opened at $310.46 on Tuesday. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $311.71. The firm has a market cap of $48.34 billion, a PE ratio of -1,194.08 and a beta of 1.09. The company's 50 day moving average is $254.50 and its two-hundred day moving average is $217.01.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ZS shares. Evercore ISI boosted their target price on shares of Zscaler from $245.00 to $290.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. KeyCorp lifted their price objective on shares of Zscaler from $290.00 to $310.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Barclays increased their target price on shares of Zscaler from $275.00 to $290.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Mizuho raised their target price on Zscaler from $275.00 to $290.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Finally, Citigroup restated a "buy" rating and issued a $240.00 price target (up previously from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $294.03.

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.

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