SBI Securities Co. Ltd. Sells 5,040 Shares of Zscaler, Inc. (NASDAQ:ZS)

SBI Securities Co. Ltd. lowered its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 26.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 14,161 shares of the company's stock after selling 5,040 shares during the period. SBI Securities Co. Ltd.'s holdings in Zscaler were worth $2,810,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ZS. Quintet Private Bank Europe S.A. lifted its holdings in Zscaler by 4.7% in the 1st quarter. Quintet Private Bank Europe S.A. now owns 1,120 shares of the company's stock valued at $222,000 after acquiring an additional 50 shares during the last quarter. Corebridge Financial Inc. lifted its stake in Zscaler by 0.5% during the fourth quarter. Corebridge Financial Inc. now owns 11,695 shares of the company's stock valued at $2,110,000 after buying an additional 54 shares in the last quarter. Cerity Partners LLC lifted its stake in Zscaler by 0.3% during the first quarter. Cerity Partners LLC now owns 22,928 shares of the company's stock valued at $4,549,000 after buying an additional 68 shares in the last quarter. Koshinski Asset Management Inc. lifted its stake in Zscaler by 2.6% during the first quarter. Koshinski Asset Management Inc. now owns 2,801 shares of the company's stock valued at $556,000 after buying an additional 70 shares in the last quarter. Finally, GSB Wealth Management LLC lifted its stake in Zscaler by 3.5% during the first quarter. GSB Wealth Management LLC now owns 2,395 shares of the company's stock valued at $475,000 after buying an additional 80 shares in the last quarter. Institutional investors own 46.45% of the company's stock.

Zscaler Stock Performance

Shares of Zscaler stock traded up $0.95 during midday trading on Friday, hitting $287.24. The company had a trading volume of 1,219,437 shares, compared to its average volume of 2,065,726. The stock has a market capitalization of $44.72 billion, a P/E ratio of -1,105.50 and a beta of 1.11. The company has a 50 day moving average of $286.65 and a 200 day moving average of $230.55. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $318.46.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping 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 company had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. Zscaler's revenue was up 22.6% compared to the same quarter last year. Equities research analysts forecast that Zscaler, Inc. will post -0.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ZS. Cantor Fitzgerald increased their price target on shares of Zscaler from $290.00 to $340.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. FBN Securities raised shares of Zscaler to a "strong-buy" rating in a research report on Friday, May 30th. Oppenheimer increased their price objective on Zscaler from $290.00 to $345.00 and gave the stock an "outperform" rating in a report on Friday, June 6th. Rosenblatt Securities increased their price objective on Zscaler from $235.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Finally, Barclays increased their price objective on Zscaler from $275.00 to $290.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. Eight analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $296.82.

Insider Buying and Selling at Zscaler

In other Zscaler news, EVP Raj Judge sold 2,957 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total transaction of $898,040.90. Following the completion of the transaction, the executive vice president owned 76,289 shares in the company, valued at $23,168,969.30. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Adam Geller sold 3,662 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $306.72, for a total value of $1,123,208.64. Following the transaction, the insider owned 46,813 shares of the company's stock, valued at $14,358,483.36. This trade represents a 7.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 200,793 shares of company stock valued at $58,752,794. 18.10% of the stock is currently owned by corporate 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.