32,800 Shares in Zscaler, Inc. (NASDAQ:ZS) Bought by Yong Rong HK Asset Management Ltd

Yong Rong HK Asset Management Ltd acquired a new stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 32,800 shares of the company's stock, valued at approximately $6,509,000. Zscaler accounts for about 1.5% of Yong Rong HK Asset Management Ltd's investment portfolio, making the stock its 17th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in ZS. ORG Partners LLC raised its holdings in Zscaler by 284.8% in the first quarter. ORG Partners LLC now owns 127 shares of the company's stock valued at $26,000 after acquiring an additional 94 shares in the last quarter. Goodman Advisory Group LLC purchased a new position in Zscaler in the 1st quarter valued at $29,000. Summit Securities Group LLC purchased a new position in Zscaler in the 4th quarter valued at $27,000. CVA Family Office LLC grew its position in Zscaler by 120.3% in the 1st quarter. CVA Family Office LLC now owns 152 shares of the company's stock valued at $30,000 after buying an additional 83 shares during the last quarter. Finally, Colonial Trust Co SC purchased a new stake in shares of Zscaler during the 4th quarter worth $28,000. Hedge funds and other institutional investors own 46.45% of the company's stock.

Zscaler Trading Up 0.2%

Shares of NASDAQ ZS traded up $0.68 during mid-day trading on Monday, hitting $315.45. The company had a trading volume of 1,733,345 shares, compared to its average volume of 2,066,813. The company has a market capitalization of $49.12 billion, a PE ratio of -1,213.27 and a beta of 1.11. The firm has a 50-day simple moving average of $274.17 and a two-hundred day simple moving average of $224.12. Zscaler, Inc. has a one year low of $153.45 and a one year high of $317.26.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $667.13 million. During the same quarter last year, the company posted $0.88 earnings per share. Zscaler's quarterly revenue was up 22.6% on a year-over-year basis. Sell-side analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Zscaler

In other news, insider Syam Nair sold 28,947 shares of Zscaler stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $250.00, for a total value of $7,236,750.00. Following the completion of the sale, the insider directly owned 110,566 shares in the company, valued at approximately $27,641,500. The trade was a 20.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ajay Mangal sold 120,000 shares of Zscaler stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $300.89, for a total transaction of $36,106,800.00. Following the completion of the sale, the insider owned 2,550,210 shares of the company's stock, valued at approximately $767,332,686.90. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 200,793 shares of company stock valued at $58,752,794 in the last three months. Corporate insiders own 18.10% of the company's stock.

Wall Street Analysts Forecast Growth

ZS has been the subject of several research reports. UBS Group lifted their price target on Zscaler from $315.00 to $365.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. Scotiabank boosted their target price on Zscaler from $310.00 to $360.00 and gave the stock a "sector outperform" rating in a report on Friday, June 6th. FBN Securities upgraded Zscaler to a "strong-buy" rating in a report on Friday, May 30th. Truist Financial reiterated a "buy" rating and set a $300.00 target price (up from $260.00) on shares of Zscaler in a research note on Friday, May 30th. Finally, Rosenblatt Securities upped their price target on Zscaler from $235.00 to $315.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Eight analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Zscaler presently has an average rating of "Moderate Buy" and an average target price of $296.82.

Zscaler 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.