Xponance Inc. Increases Holdings in Zscaler, Inc. (NASDAQ:ZS)

Xponance Inc. increased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 5.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,097 shares of the company's stock after acquiring an additional 970 shares during the period. Xponance Inc.'s holdings in Zscaler were worth $3,591,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ZS. WESPAC Advisors LLC bought a new position in Zscaler in the first quarter valued at approximately $279,000. Cerity Partners LLC grew its stake in Zscaler by 0.3% in the first quarter. Cerity Partners LLC now owns 22,928 shares of the company's stock valued at $4,549,000 after acquiring an additional 68 shares during the period. Allworth Financial LP increased its holdings in shares of Zscaler by 47.4% in the first quarter. Allworth Financial LP now owns 1,002 shares of the company's stock worth $211,000 after acquiring an additional 322 shares in the last quarter. Arcadia Investment Management Corp MI raised its holdings in Zscaler by 2.5% during the 1st quarter. Arcadia Investment Management Corp MI now owns 30,086 shares of the company's stock worth $5,970,000 after buying an additional 746 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its position in shares of Zscaler by 5.5% during the first quarter. Linden Thomas Advisory Services LLC now owns 8,393 shares of the company's stock worth $1,665,000 after acquiring an additional 441 shares in the last quarter. Institutional investors own 46.45% of the company's stock.

Zscaler Price Performance

Shares of NASDAQ:ZS traded up $1.40 during mid-day trading on Monday, hitting $291.14. The company had a trading volume of 1,780,605 shares, compared to its average volume of 2,304,388. The company has a market capitalization of $45.33 billion, a PE ratio of -1,119.77 and a beta of 1.11. Zscaler, Inc. has a one year low of $153.45 and a one year high of $318.46. The firm has a fifty day moving average price of $282.23 and a 200 day moving average price of $228.27.

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. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The business had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. During the same quarter last year, the firm posted $0.88 EPS. Zscaler's revenue was up 22.6% compared to the same quarter last year. Research analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Robert W. Baird increased their target price on shares of Zscaler from $295.00 to $315.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Susquehanna lifted their price target on Zscaler from $245.00 to $320.00 and gave the stock a "positive" rating in a report on Friday, May 30th. Jefferies Financial Group cut their price target on Zscaler from $245.00 to $240.00 and set a "buy" rating for the company in a report on Monday, March 31st. JPMorgan Chase & Co. upped their price target on shares of Zscaler from $292.00 to $348.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. Finally, Scotiabank lifted their price target on Zscaler from $310.00 to $360.00 and gave the stock a "sector outperform" rating in a report on Friday, June 6th. Eight investment 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 data from MarketBeat.com, Zscaler currently has an average rating of "Moderate Buy" and an average target price of $296.82.

Insiders Place Their Bets

In related news, insider Robert Schlossman sold 4,618 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $300.00, for a total value of $1,385,400.00. Following the sale, the insider directly owned 95,612 shares in the company, valued at approximately $28,683,600. The trade was a 4.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Andrew William Fraser Brown sold 20,333 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $296.72, for a total value of $6,033,207.76. Following the sale, the director owned 27,216 shares in the company, valued at approximately $8,075,531.52. This represents a 42.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 200,793 shares of company stock valued at $58,752,794. 18.10% of the stock is currently owned by insiders.

Zscaler Company Profile

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.