XTX Topco Ltd Acquires 15,252 Shares of Zscaler, Inc. (NASDAQ:ZS)

Key Points

• XTX Topco Ltd significantly increased its holdings in Zscaler, acquiring an additional 15,252 shares which boosted its ownership by 1,018.2% to a total of 16,750 shares worth approximately $3.3 million.
• Insiders have engaged in significant selling of Zscaler stock, with transactions totaling $58.75 million in the last quarter, indicating a notable decrease in ownership percentages among key individuals.
• Zscaler's recent earnings report showed strong revenue growth of 22.6% year-over-year, with reported earnings per share of $0.84, surpassing analysts' expectations.

XTX Topco Ltd increased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 1,018.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,750 shares of the company's stock after buying an additional 15,252 shares during the quarter. XTX Topco Ltd's holdings in Zscaler were worth $3,324,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. GAMMA Investing LLC increased its holdings in Zscaler by 43.1% in the 1st quarter. GAMMA Investing LLC now owns 641 shares of the company's stock worth $127,000 after purchasing an additional 193 shares in the last quarter. Allworth Financial LP increased its holdings in Zscaler by 47.4% in the 1st quarter. Allworth Financial LP now owns 1,002 shares of the company's stock worth $211,000 after purchasing an additional 322 shares in the last quarter. Krane Funds Advisors LLC increased its holdings in Zscaler by 36.4% in the 1st quarter. Krane Funds Advisors LLC now owns 1,667 shares of the company's stock worth $331,000 after purchasing an additional 445 shares in the last quarter. Merit Financial Group LLC increased its holdings in Zscaler by 42.0% in the 1st quarter. Merit Financial Group LLC now owns 6,197 shares of the company's stock worth $1,230,000 after purchasing an additional 1,832 shares in the last quarter. Finally, Norges Bank acquired a new position in Zscaler in the 4th quarter worth about $32,158,000. 46.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Zscaler

In other news, Director Andrew William Fraser Brown sold 20,333 shares of the firm's 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 completion of the transaction, the director directly owned 27,216 shares of the company's stock, valued at $8,075,531.52. This trade represents a 42.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Schlossman sold 4,618 shares of the firm's stock in a transaction on 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 completion of the transaction, the insider directly owned 95,612 shares of the company's stock, valued at $28,683,600. The trade was a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 200,793 shares of company stock valued at $58,752,794 in the last quarter. Insiders own 18.10% of the company's stock.

Zscaler Trading Up 1.0%

Shares of ZS opened at $289.04 on Tuesday. The company has a market capitalization of $45.00 billion, a price-to-earnings ratio of -1,111.69 and a beta of 1.11. The stock has a 50 day moving average of $292.48 and a 200 day moving average of $236.15. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $318.46.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group upped their target price on Zscaler from $315.00 to $365.00 and gave the stock a "buy" rating in a report on Friday, June 27th. BMO Capital Markets upped their target price on Zscaler from $233.00 to $295.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Guggenheim reaffirmed a "neutral" rating on shares of Zscaler in a report on Friday, May 30th. Robert W. Baird upped their price target on Zscaler from $295.00 to $315.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Finally, Oppenheimer upped their price target on Zscaler from $290.00 to $345.00 and gave the company an "outperform" rating in a research report on Friday, June 6th. Seven investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Zscaler has a consensus rating of "Moderate Buy" and a consensus price target 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.

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