Zscaler, Inc. $ZS Shares Purchased by United Capital Management of KS Inc.

Key Points

• United Capital Management of KS Inc. increased its stake in Zscaler, Inc. by 4.9%, acquiring an additional 1,508 shares, bringing its total holdings to 32,589 shares valued at approximately $6.47 million.
• Recently, multiple analysts raised their price targets for Zscaler, with Scotiabank setting a target of $360 and Truist Financial increasing their target to $300, reflecting strong confidence in the stock's performance.
• Insider transactions included significant sales, with Director Andrew Fraser Brown selling 20,333 shares and major shareholder Ajay Mangal selling 120,000 shares, indicating a decrease in ownership for both insiders despite ongoing strong market interest.

United Capital Management of KS Inc. raised its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,589 shares of the company's stock after buying an additional 1,508 shares during the period. Zscaler comprises approximately 1.3% of United Capital Management of KS Inc.'s portfolio, making the stock its 27th largest position. United Capital Management of KS Inc.'s holdings in Zscaler were worth $6,466,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ZS. Vanguard Group Inc. boosted its holdings in shares of Zscaler by 3.1% during the first quarter. Vanguard Group Inc. now owns 9,890,506 shares of the company's stock worth $1,962,474,000 after purchasing an additional 294,034 shares during the period. Goldman Sachs Group Inc. boosted 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 period. AQR Capital Management LLC boosted 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 period. Nuveen LLC bought a new position in Zscaler in the first quarter worth about $153,340,000. Finally, Northern Trust Corp raised its stake in Zscaler by 23.1% in the fourth quarter. Northern Trust Corp now owns 638,042 shares of the company's stock worth $115,109,000 after buying an additional 119,536 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Zscaler

In other news, insider Syam Nair sold 4,064 shares of the business'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 $1,234,236.80. Following the sale, the insider directly owned 106,659 shares of the company's stock, valued at approximately $32,392,338.30. The trade was a 3.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew William Fraser Brown sold 20,333 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $296.72, for a total transaction of $6,033,207.76. Following the completion of the sale, the director directly owned 27,216 shares in the company, valued at $8,075,531.52. This trade represents a 42.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,256 shares of company stock valued at $50,618,544 over the last ninety days. Corporate insiders own 18.10% of the company's stock.

Zscaler Stock Performance

Shares of ZS stock traded up $3.98 on Friday, reaching $274.97. 877,310 shares of the company were exchanged, compared to its average volume of 1,485,647. The company has a market cap of $42.81 billion, a price-to-earnings ratio of -1,057.58, a P/E/G ratio of 246.53 and a beta of 1.06. The business has a 50-day moving average price of $295.02 and a 200 day moving average price of $244.67. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $318.46.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.08. The firm had revenue of $678.03 million for the quarter, compared to analyst estimates of $667.13 million. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. Zscaler's quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 earnings per share. As a group, equities analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ZS shares. FBN Securities raised shares of Zscaler to a "strong-buy" rating in a research note on Friday, May 30th. Wells Fargo & Company raised shares of Zscaler from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $260.00 to $385.00 in a research note on Friday, June 13th. Robert W. Baird raised their target price on shares of Zscaler from $295.00 to $315.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Truist Financial reaffirmed a "buy" rating and set a $300.00 target price (up previously from $260.00) on shares of Zscaler in a research note on Friday, May 30th. Finally, Morgan Stanley raised their target price on shares of Zscaler from $200.00 to $280.00 and gave the company an "equal weight" rating in a research note on Friday, May 30th. Seven 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.