Lmcg Investments LLC Acquires 4,339 Shares of Zscaler, Inc. (NASDAQ:ZS)

Lmcg Investments LLC lifted its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 29.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 19,184 shares of the company's stock after acquiring an additional 4,339 shares during the period. Lmcg Investments LLC's holdings in Zscaler were worth $3,806,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ZS. Secure Asset Management LLC bought a new stake in Zscaler in the first quarter worth $475,000. Hennion & Walsh Asset Management Inc. lifted its stake in Zscaler by 1.7% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 12,512 shares of the company's stock worth $2,483,000 after purchasing an additional 208 shares during the last quarter. Merit Financial Group LLC lifted its stake in Zscaler by 42.0% in the first 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 during the last quarter. Woodstock Corp lifted its stake in Zscaler by 32.8% in the first quarter. Woodstock Corp now owns 47,852 shares of the company's stock worth $9,495,000 after purchasing an additional 11,817 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Zscaler by 3.7% in the first quarter. Rhumbline Advisers now owns 133,305 shares of the company's stock worth $26,450,000 after purchasing an additional 4,726 shares during the last quarter. 46.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ZS shares. FBN Securities raised shares of Zscaler to a "strong-buy" rating in a research note on Friday, May 30th. Susquehanna lifted their price objective on Zscaler from $245.00 to $320.00 and gave the company a "positive" rating in a research report on Friday, May 30th. Robert W. Baird lifted their price objective on Zscaler from $295.00 to $315.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. The Goldman Sachs Group set a $207.00 price objective on Zscaler and gave the company a "neutral" rating in a research report on Thursday, March 6th. Finally, Loop Capital lifted their price objective on Zscaler from $250.00 to $260.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Zscaler currently has an average rating of "Moderate Buy" and an average price target of $280.76.

Zscaler Stock Performance

Shares of NASDAQ ZS traded up $4.03 during midday trading on Thursday, hitting $300.88. 2,503,610 shares of the stock traded hands, compared to its average volume of 2,064,930. The firm has a 50-day moving average of $227.81 and a two-hundred day moving average of $208.86. The firm has a market capitalization of $46.55 billion, a P/E ratio of -1,203.52 and a beta of 1.14. Zscaler, Inc. has a one year low of $153.45 and a one year high of $303.67.

Zscaler (NASDAQ:ZS - Get Free Report) last posted 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. 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%. Zscaler's revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 EPS. Equities analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Ajay Mangal sold 190,480 shares of the firm's 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 in the company, valued at $517,822,344.90. This trade represents a 6.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert Schlossman sold 3,590 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $250.00, for a total value of $897,500.00. Following the transaction, the insider now owns 100,230 shares of the company's stock, valued at approximately $25,057,500. The trade was a 3.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 241,771 shares of company stock worth $50,165,040. Corporate insiders own 18.10% of the company's stock.

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.