Raymond James Financial Inc. Sells 14,946 Shares of Zscaler, Inc. $ZS

Key Points

• Raymond James Financial Inc. reduced its stake in Zscaler, Inc. by 9.6%, now owning 140,655 shares worth approximately $27.9 million after selling 14,946 shares in the first quarter.
• Zscaler recently reported quarterly earnings of $0.84 per share, exceeding expectations, and its revenue increased by 22.6% year-over-year, totaling $678.03 million.
• Several large investors, including United Capital Management and Aberdeen Group, increased their stakes in Zscaler during the first quarter, reflecting a strong interest from institutional investors.

Raymond James Financial Inc. reduced its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 9.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 140,655 shares of the company's stock after selling 14,946 shares during the quarter. Raymond James Financial Inc. owned about 0.09% of Zscaler worth $27,908,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. United Capital Management of KS Inc. increased its stake in Zscaler by 4.9% during the first quarter. United Capital Management of KS Inc. now owns 32,589 shares of the company's stock worth $6,466,000 after acquiring an additional 1,508 shares during the last quarter. Ethic Inc. increased its stake in Zscaler by 20.1% during the first quarter. Ethic Inc. now owns 4,973 shares of the company's stock worth $1,000,000 after acquiring an additional 832 shares during the last quarter. Aberdeen Group plc increased its stake in Zscaler by 130.8% during the first quarter. Aberdeen Group plc now owns 57,831 shares of the company's stock worth $11,475,000 after acquiring an additional 32,769 shares during the last quarter. Azimuth Capital Investment Management LLC bought a new stake in Zscaler during the first quarter worth approximately $208,000. Finally, Sienna Gestion purchased a new position in shares of Zscaler during the first quarter valued at approximately $434,000. 46.45% of the stock is owned by institutional investors.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $272.52 on Monday. The firm has a market capitalization of $42.43 billion, a price-to-earnings ratio of -1,048.15, a PEG ratio of 290.68 and a beta of 1.06. The stock has a 50 day moving average price of $292.37 and a 200 day moving average price of $247.14. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $318.46.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%.Zscaler's quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 earnings per share. Zscaler has set its FY 2025 guidance at 3.180-3.19 EPS. Q4 2025 guidance at EPS. Analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

ZS has been the subject of several recent analyst reports. Roth Capital restated a "neutral" rating on shares of Zscaler in a research report on Wednesday, May 28th. Wedbush boosted their target price on Zscaler from $240.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Stephens restated an "overweight" rating and set a $255.00 target price on shares of Zscaler in a research report on Tuesday, May 27th. Evercore ISI boosted their target price on Zscaler from $245.00 to $290.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Finally, Piper Sandler restated a "neutral" rating and set a $260.00 target price (up previously from $235.00) on shares of Zscaler in a research report on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $296.82.

Insider Activity at Zscaler

In other Zscaler news, insider Syam Nair sold 4,064 shares of the company'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 $1,234,236.80. Following the completion of the sale, the insider owned 106,659 shares in the company, valued at $32,392,338.30. This represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Raj Judge sold 2,957 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total value of $898,040.90. Following the sale, the executive vice president owned 76,289 shares of the company's stock, valued at approximately $23,168,969.30. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 168,256 shares of company stock valued at $50,618,544 over the last 90 days. Insiders own 18.10% of the company's stock.

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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