Yong Rong HK Asset Management Ltd Invests $6.51 Million in Zscaler, Inc. (NASDAQ:ZS)

Yong Rong HK Asset Management Ltd acquired a new position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 32,800 shares of the company's stock, valued at approximately $6,509,000. Zscaler makes up 1.5% of Yong Rong HK Asset Management Ltd's portfolio, making the stock its 17th biggest position.

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

Zscaler Stock Performance

Zscaler stock opened at $314.75 on Monday. The company has a market capitalization of $49.01 billion, a PE ratio of -1,210.56 and a beta of 1.11. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $317.26. The firm has a 50 day moving average price of $274.17 and a 200 day moving average price of $224.12.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly 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 analyst estimates of $667.13 million. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The company's quarterly revenue was up 22.6% on a year-over-year basis. During the same period last year, the business posted $0.88 earnings per share. As a group, equities research analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on ZS shares. BMO Capital Markets raised their price target on shares of Zscaler from $233.00 to $295.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Wells Fargo & Company raised Zscaler from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $260.00 to $385.00 in a research report on Friday, June 13th. Roth Capital restated a "neutral" rating on shares of Zscaler in a research note on Wednesday, May 28th. KeyCorp boosted their price target on Zscaler from $290.00 to $310.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. Finally, JPMorgan Chase & Co. increased their price objective on Zscaler from $292.00 to $348.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $296.82.

Insider Buying and Selling

In other news, insider Syam Nair sold 28,947 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $250.00, for a total value of $7,236,750.00. Following the sale, the insider directly owned 110,566 shares in the company, valued at approximately $27,641,500. This trade represents a 20.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam Geller sold 3,662 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $306.72, for a total value of $1,123,208.64. Following the transaction, the insider directly owned 46,813 shares of the company's stock, valued at $14,358,483.36. The trade was a 7.26% decrease in their ownership of the stock. 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 90 days. 18.10% of the stock is owned by insiders.

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.

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