Vident Advisory LLC Purchases 95,250 Shares of Zscaler, Inc. $ZS

Key Points

• Vident Advisory LLC increased its stake in Zscaler, Inc. by 141.7%, owning a total of 162,471 shares valued at approximately $32 million at the end of the first quarter.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Zscaler, with price targets reaching up to $385.00, indicating strong growth potential for the stock.
• Zscaler's recent quarterly earnings beat estimates, reporting $0.84 earnings per share and 22.6% revenue growth year-over-year, suggesting robust operational performance.

Vident Advisory LLC boosted its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 141.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,471 shares of the company's stock after acquiring an additional 95,250 shares during the quarter. Vident Advisory LLC owned 0.11% of Zscaler worth $32,237,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ZS. T. Rowe Price Investment Management Inc. bought a new stake in Zscaler in the 1st quarter valued at $516,622,000. Nuveen LLC bought a new stake in Zscaler in the 1st quarter valued at $153,340,000. Goldman Sachs Group Inc. increased its stake in Zscaler by 23.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,048,238 shares of the company's stock valued at $604,831,000 after buying an additional 578,883 shares during the last quarter. Greenvale Capital LLP acquired a new stake in Zscaler in the 4th quarter valued at $72,164,000. Finally, Vanguard Group Inc. increased its stake in Zscaler by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 9,890,506 shares of the company's stock valued at $1,962,474,000 after buying an additional 294,034 shares during the last quarter. 46.45% of the stock is owned by institutional investors.

Zscaler Stock Performance

Shares of ZS stock traded down $2.48 during midday trading on Tuesday, hitting $274.57. 5,227,360 shares of the company were exchanged, compared to its average volume of 2,133,808. The firm has a market capitalization of $42.75 billion, a P/E ratio of -1,056.04, a PEG ratio of 259.58 and a beta of 1.05. The firm's 50 day moving average price is $288.53 and its two-hundred day moving average price is $249.79. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $318.46.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its earnings results on Tuesday, September 2nd. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.80 by ($0.84). Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. Analysts expect that Zscaler, Inc. will post -0.1 EPS for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, insider Adam Geller sold 3,662 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $306.72, for a total value of $1,123,208.64. Following the completion of the sale, the insider owned 46,813 shares of the company's stock, valued at $14,358,483.36. The trade was a 7.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 transaction of $1,234,236.80. Following the transaction, the insider 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 a total of 168,256 shares of company stock worth $50,618,544 in the last ninety days. Insiders own 18.10% of the company's stock.

Analyst Upgrades and Downgrades

ZS has been the topic of several recent research reports. FBN Securities upgraded shares of Zscaler to a "strong-buy" rating in a research note on Friday, May 30th. Evercore ISI lifted their price target on shares of Zscaler from $245.00 to $290.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Stifel Nicolaus lifted their price target on shares of Zscaler from $270.00 to $295.00 and gave the company a "buy" rating in a research note on Friday, May 30th. UBS Group lifted their price target on shares of Zscaler from $315.00 to $365.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Finally, Barclays boosted their price objective on shares of Zscaler from $290.00 to $300.00 and gave the stock an "overweight" rating in a research note on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $297.63.

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.