Stanley Laman Group Ltd. Grows Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Stanley Laman Group Ltd. lifted its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 81.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,575 shares of the company's stock after acquiring an additional 18,722 shares during the quarter. Zscaler makes up 1.3% of Stanley Laman Group Ltd.'s holdings, making the stock its 10th biggest holding. Stanley Laman Group Ltd.'s holdings in Zscaler were worth $8,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LaFleur & Godfrey LLC boosted its position in Zscaler by 0.6% during the fourth quarter. LaFleur & Godfrey LLC now owns 61,985 shares of the company's stock valued at $11,183,000 after acquiring an additional 399 shares during the last quarter. Yousif Capital Management LLC acquired a new position in shares of Zscaler in the 4th quarter valued at about $214,000. Savant Capital LLC bought a new stake in shares of Zscaler during the 4th quarter valued at about $2,742,000. Essex Financial Services Inc. grew its stake in Zscaler by 16.2% during the fourth quarter. Essex Financial Services Inc. now owns 2,038 shares of the company's stock worth $368,000 after purchasing an additional 284 shares during the period. Finally, Stonebridge Financial Group LLC bought a new stake in Zscaler in the fourth quarter worth approximately $29,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on ZS shares. Canaccord Genuity Group set a $305.00 price objective on shares of Zscaler and gave the stock a "buy" rating in a research report on Monday, June 2nd. Evercore ISI increased their target price on shares of Zscaler from $245.00 to $290.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Rosenblatt Securities lifted their price target on shares of Zscaler from $235.00 to $315.00 and gave the company a "buy" rating in a research note on Friday, May 30th. The Goldman Sachs Group set a $207.00 price objective on shares of Zscaler and gave the company a "neutral" rating in a report on Thursday, March 6th. Finally, Wedbush boosted their target price on Zscaler from $240.00 to $300.00 and gave the company an "outperform" 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 company. According to MarketBeat.com, Zscaler currently has a consensus rating of "Moderate Buy" and an average target price of $292.38.

Insider Transactions at Zscaler

In other Zscaler news, Director Andrew William Fraser Brown sold 10,000 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the completion of the transaction, the director now owns 27,216 shares in the company, valued at $5,606,496. This trade represents a 26.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the transaction, the insider now owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. The trade was a 6.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 386,722 shares of company stock worth $93,690,448 in the last quarter. Insiders own 18.10% of the company's stock.

Zscaler Trading Up 0.2%

Shares of ZS traded up $0.52 on Friday, reaching $301.95. 2,065,800 shares of the company's stock traded hands, compared to its average volume of 2,053,433. The stock's 50 day simple moving average is $238.75 and its two-hundred day simple moving average is $212.08. The stock has a market cap of $47.01 billion, a PE ratio of -1,207.80 and a beta of 1.09. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $306.78.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its 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. The firm 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 0.75% and a negative net margin of 1.58%. The business's revenue was up 22.6% compared to the same quarter last year. During the same period last year, the firm posted $0.88 EPS. Analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current year.

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.