Resona Asset Management Co. Ltd. Has $6.15 Million Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Resona Asset Management Co. Ltd. boosted its holdings in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 12.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,787 shares of the company's stock after buying an additional 3,405 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Zscaler were worth $6,149,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ZS. Nuveen LLC acquired a new stake in Zscaler in the first quarter valued at about $153,340,000. Goldman Sachs Group Inc. grew its holdings in shares of Zscaler by 23.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,048,238 shares of the company's stock worth $604,831,000 after purchasing an additional 578,883 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Zscaler by 120.1% during the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock worth $173,921,000 after purchasing an additional 525,956 shares during the last quarter. Natixis acquired a new position in shares of Zscaler in the fourth quarter valued at approximately $87,775,000. Finally, Greenvale Capital LLP bought a new position in Zscaler in the 4th quarter valued at approximately $72,164,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Stock Down 2.4%

NASDAQ ZS opened at $270.99 on Friday. The company has a market cap of $42.19 billion, a price-to-earnings ratio of -1,042.27, a P/E/G ratio of 249.04 and a beta of 1.06. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $318.46. The business has a 50 day moving average price of $295.58 and a 200-day moving average price of $243.60.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $678.03 million during 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%. The company's quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 earnings per share. On average, equities research analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Insider Activity at Zscaler

In related news, Director Andrew William Fraser Brown sold 20,333 shares of Zscaler stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $296.72, for a total transaction of $6,033,207.76. Following the transaction, the director owned 27,216 shares of the company's stock, valued at $8,075,531.52. The trade was a 42.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Syam Nair sold 4,064 shares of Zscaler stock in a transaction that occurred on 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 transaction, the insider directly owned 106,659 shares in the company, valued at approximately $32,392,338.30. The trade was a 3.67% 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. Corporate insiders own 18.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. BTIG Research reissued a "buy" rating on shares of Zscaler in a report on Thursday, July 10th. Needham & Company LLC boosted their price objective on shares of Zscaler from $240.00 to $310.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Oppenheimer increased their price objective on Zscaler from $290.00 to $345.00 and gave the company an "outperform" rating in a report on Friday, June 6th. Wall Street Zen raised Zscaler from a "hold" rating to a "buy" rating in a research report on Sunday, June 8th. Finally, Morgan Stanley lifted their target price on Zscaler from $200.00 to $280.00 and gave the stock an "equal weight" rating in a report on Friday, May 30th. Seven analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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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