Sumitomo Mitsui DS Asset Management Company Ltd Raises Stake in Zscaler, Inc. (NASDAQ:ZS)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 34.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,401 shares of the company's stock after purchasing an additional 2,670 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Zscaler were worth $2,064,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. ORG Partners LLC raised its stake in shares of Zscaler by 284.8% during the 1st quarter. ORG Partners LLC now owns 127 shares of the company's stock worth $26,000 after buying an additional 94 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Zscaler during the 4th quarter worth $27,000. Colonial Trust Co SC acquired a new position in shares of Zscaler during the 4th quarter worth $28,000. Goodman Advisory Group LLC acquired a new position in shares of Zscaler during the 1st quarter worth $29,000. Finally, Elequin Capital LP acquired a new position in shares of Zscaler during the 4th quarter worth $30,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Zscaler

In related news, insider Adam Geller sold 3,662 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $306.72, for a total transaction of $1,123,208.64. Following the sale, the insider directly owned 46,813 shares of the company's stock, valued at approximately $14,358,483.36. This represents a 7.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,849 shares of the company's 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 $865,241.30. Following the sale, the chief executive officer directly owned 353,565 shares in the company, valued at approximately $107,377,690.50. This represents a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 200,793 shares of company stock worth $58,752,794. 18.10% of the stock is owned by insiders.

Zscaler Trading Up 1.8%

Zscaler stock opened at $314.75 on Friday. The stock has a market cap of $49.01 billion, a P/E ratio of -1,210.56 and a beta of 1.11. The stock has a 50 day moving average of $274.17 and a 200-day moving average of $223.57. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $317.26.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.08. The business had revenue of $678.03 million for 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%. The business's revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.88 EPS. As a group, equities analysts predict that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ZS shares. JMP Securities lifted their price target on Zscaler from $310.00 to $355.00 and gave the stock a "market outperform" rating in a research note on Tuesday. Wall Street Zen raised shares of Zscaler from a "hold" rating to a "buy" rating in a research note on Sunday, June 8th. Roth Capital restated a "neutral" rating on shares of Zscaler in a report on Wednesday, May 28th. Wedbush upped their target price on shares of Zscaler from $240.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Finally, Robert W. Baird upped their target price on shares of Zscaler from $295.00 to $315.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company 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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