UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stake in Zscaler, Inc. $ZS

Key Points

• UBS Asset Management reduced its Zscaler stake by 11.9% in the second quarter, selling 233,924 shares and retaining 1.73 million shares valued at approximately $244.4 million. Institutional investors collectively own 46.45% of the company.
• Zscaler shares recently traded at $188.38, up 2.3%, with a market capitalization of about $30.5 billion. The stock remains below its 52-week high of $336.99 but above its 52-week low of $114.63.
• Analysts maintain a broadly positive outlook, with 34 Buy ratings, six Holds and one Sell; the consensus rating is “Moderate Buy” with an average price target of $216.18. Insiders sold $2.14 million of stock over the past three months, primarily to cover tax obligations from vested equity awards.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 11.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,731,190 shares of the company's stock after selling 233,924 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.07% of Zscaler worth $244,357,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ZS. Wellington Management Group LLP boosted its position in Zscaler by 23.5% during the second quarter. Wellington Management Group LLP now owns 1,103,212 shares of the company's stock worth $155,718,000 after purchasing an additional 209,711 shares during the period. Kingsview Wealth Management LLC purchased a new stake in shares of Zscaler during the 2nd quarter valued at approximately $301,000. Beacon Pointe Advisors LLC bought a new position in Zscaler in the 2nd quarter worth approximately $5,922,000. North Star Asset Management Inc. bought a new position in Zscaler in the 2nd quarter worth approximately $5,407,000. Finally, Empowered Funds LLC purchased a new position in Zscaler in the 2nd quarter valued at approximately $383,000. Institutional investors own 46.45% of the company's stock.

Zscaler Trading Up 2.3%

Shares of Zscaler stock opened at $188.38 on Tuesday. The firm has a market cap of $30.46 billion, a PE ratio of -392.45, a PEG ratio of 108.43 and a beta of 0.94. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.86 and a quick ratio of 1.86. Zscaler, Inc. has a 1 year low of $114.63 and a 1 year high of $336.99. The company has a 50 day simple moving average of $157.48 and a two-hundred day simple moving average of $150.33.

Insider Transactions at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,878 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $126.43, for a total transaction of $363,865.54. Following the transaction, the chief executive officer directly owned 343,038 shares in the company, valued at $43,370,294.34. This trade represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Robert Schlossman sold 3,146 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $126.43, for a total transaction of $397,748.78. Following the transaction, the insider directly owned 69,366 shares in the company, valued at approximately $8,769,943.38. This represents a 4.34% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 16,772 shares of company stock worth $2,139,799 in the last three months. Corporate insiders own 17.20% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Zscaler from $180.00 to $210.00 and gave the company an "overweight" rating in a report on Monday, August 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $180.00 price target on shares of Zscaler in a report on Wednesday, June 10th. Stifel Nicolaus lifted their price target on Zscaler from $175.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, August 19th. Deutsche Bank Aktiengesellschaft decreased their price objective on Zscaler from $185.00 to $175.00 and set a "buy" rating on the stock in a research note on Wednesday, May 27th. Finally, Barclays raised their target price on Zscaler from $170.00 to $192.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 25th. Thirty-four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Zscaler currently has a consensus rating of "Moderate Buy" and an average target price of $216.18.

Zscaler Profile

Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.

Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.

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