Victory Capital Management Inc. raised its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 4.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 115,177 shares of the company's stock after buying an additional 4,888 shares during the quarter. Victory Capital Management Inc. owned about 0.07% of Zscaler worth $22,853,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of ZS. Geode Capital Management LLC lifted its holdings in shares of Zscaler by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock valued at $298,710,000 after purchasing an additional 32,545 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Zscaler by 25.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock valued at $291,935,000 after purchasing an additional 332,307 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Zscaler by 120.1% during the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock valued at $173,921,000 after purchasing an additional 525,956 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Zscaler by 30.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock valued at $156,739,000 after purchasing an additional 204,996 shares in the last quarter. Finally, DnB Asset Management AS lifted its holdings in shares of Zscaler by 66.8% during the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock valued at $120,403,000 after purchasing an additional 267,162 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have weighed in on ZS shares. Jefferies Financial Group lowered their price target on Zscaler from $245.00 to $240.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Needham & Company LLC boosted their target price on Zscaler from $240.00 to $310.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Loop Capital boosted their target price on Zscaler from $250.00 to $260.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Roth Capital reissued a "neutral" rating on shares of Zscaler in a report on Wednesday, May 28th. Finally, Royal Bank Of Canada upped their price objective on Zscaler from $288.00 to $304.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Zscaler currently has a consensus rating of "Moderate Buy" and an average target price of $296.82.
Check Out Our Latest Stock Analysis on ZS
Insider Activity at Zscaler
In other Zscaler news, insider Robert Schlossman sold 3,174 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $305.07, for a total value of $968,292.18. Following the completion of the sale, the insider owned 88,970 shares in the company, valued at approximately $27,142,077.90. This trade represents a 3.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Syam Nair sold 4,064 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total value of $1,234,236.80. Following the completion of the transaction, the insider directly owned 106,659 shares of the company's stock, valued at $32,392,338.30. This represents a 3.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 200,793 shares of company stock worth $58,752,794 over the last three months. Corporate insiders own 18.10% of the company's stock.
Zscaler Stock Performance
Shares of NASDAQ ZS opened at $288.43 on Tuesday. The stock has a market cap of $44.91 billion, a PE ratio of -1,109.35 and a beta of 1.11. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $318.46. The stock has a fifty day moving average of $287.76 and a 200-day moving average of $232.00.
Zscaler (NASDAQ:ZS - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The business had revenue of $678.03 million during the quarter, compared to analysts' expectations of $667.13 million. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The firm's revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 earnings per share. On average, sell-side analysts predict that Zscaler, Inc. will post -0.1 EPS for the current year.
Zscaler Company Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding ZS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zscaler, Inc. (NASDAQ:ZS - Free Report).
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