Raiffeisen Bank International AG Acquires 2,236 Shares of Zscaler, Inc. (NASDAQ:ZS)

Key Points

• Raiffeisen Bank International AG increased its stake in Zscaler by 7.2%, acquiring an additional 2,236 shares, bringing its total holdings to 33,149 shares valued at approximately $6.87 million.
• Several large investors have also raised their stakes in Zscaler, including OVERSEA CHINESE BANKING Corp Ltd, which boosted its holdings by an impressive 1,136.1% in the same quarter.
• Zscaler reported a quarterly EPS of $0.84, exceeding analysts' expectations, with revenue growth of 22.6% year-over-year, totaling $678.03 million.

Raiffeisen Bank International AG grew its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 7.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,149 shares of the company's stock after acquiring an additional 2,236 shares during the quarter. Raiffeisen Bank International AG's holdings in Zscaler were worth $6,866,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Manchester Capital Management LLC increased its holdings in shares of Zscaler by 23.0% in the first quarter. Manchester Capital Management LLC now owns 935 shares of the company's stock worth $186,000 after acquiring an additional 175 shares in the last quarter. Scotia Capital Inc. boosted its position in shares of Zscaler by 96.1% during the first quarter. Scotia Capital Inc. now owns 29,031 shares of the company's stock worth $5,760,000 after buying an additional 14,224 shares during the period. Malaga Cove Capital LLC boosted its position in shares of Zscaler by 24.0% during the first quarter. Malaga Cove Capital LLC now owns 8,312 shares of the company's stock worth $1,649,000 after buying an additional 1,609 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of Zscaler by 1,136.1% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 27,083 shares of the company's stock worth $5,374,000 after buying an additional 24,892 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Zscaler by 13.0% during the first quarter. PNC Financial Services Group Inc. now owns 7,420 shares of the company's stock worth $1,472,000 after buying an additional 855 shares during the period. 46.45% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Robert Schlossman sold 4,618 shares of Zscaler stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $300.00, for a total value of $1,385,400.00. Following the transaction, the insider owned 95,612 shares in the company, valued at approximately $28,683,600. This trade represents a 4.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew William Fraser Brown sold 20,333 shares of Zscaler stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $296.72, for a total value of $6,033,207.76. Following the completion of the transaction, the director owned 27,216 shares in the company, valued at approximately $8,075,531.52. The trade was a 42.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 200,793 shares of company stock worth $58,752,794. 18.10% of the stock is currently owned by insiders.

Zscaler Trading Down 1.9%

Shares of NASDAQ ZS opened at $280.27 on Monday. The business's 50 day moving average is $295.21 and its 200-day moving average is $238.92. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $318.46. The firm has a market cap of $43.64 billion, a P/E ratio of -1,077.96, a price-to-earnings-growth ratio of 240.75 and a beta of 1.06.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $678.03 million for the quarter, compared to analyst estimates of $667.13 million. During the same quarter last year, the company earned $0.88 EPS. The company's revenue was up 22.6% on a year-over-year basis. Analysts forecast that Zscaler, Inc. will post -0.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ZS shares. BMO Capital Markets upped their price objective on Zscaler from $233.00 to $295.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Stephens reaffirmed an "overweight" rating and set a $255.00 price objective on shares of Zscaler in a research report on Tuesday, May 27th. Canaccord Genuity Group set a $305.00 price objective on Zscaler and gave the stock a "buy" rating in a research report on Monday, June 2nd. Rosenblatt Securities upped their price objective on Zscaler from $235.00 to $315.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Finally, Guggenheim reissued a "neutral" rating on shares of Zscaler in a research report on Friday, May 30th. Seven research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Zscaler currently has a consensus 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.

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