SG Americas Securities LLC Has $10.70 Million Stock Holdings in Zscaler, Inc. (NASDAQ:ZS)

SG Americas Securities LLC boosted its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 324.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,902 shares of the company's stock after acquiring an additional 41,190 shares during the period. SG Americas Securities LLC's holdings in Zscaler were worth $10,695,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new position in Zscaler during the 4th quarter worth $27,000. Colonial Trust Co SC bought a new position in shares of Zscaler during the 4th quarter worth about $28,000. Stonebridge Financial Group LLC bought a new position in shares of Zscaler during the 4th quarter worth about $29,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Zscaler by 295.0% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 158 shares of the company's stock worth $31,000 after purchasing an additional 118 shares during the period. Finally, Elequin Capital LP bought a new position in shares of Zscaler during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Zscaler Trading Up 0.2%

Shares of ZS traded up $0.52 during mid-day trading on Friday, hitting $301.95. 2,065,800 shares of the company traded hands, compared to its average volume of 2,053,438. Zscaler, Inc. has a one year low of $153.45 and a one year high of $306.78. The business has a 50-day moving average of $241.25 and a 200 day moving average of $212.72. The stock has a market capitalization of $47.01 billion, a price-to-earnings ratio of -1,207.80 and a beta of 1.09.

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, beating the consensus estimate of $0.76 by $0.08. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The business had revenue of $678.03 million for the quarter, compared to analysts' expectations of $667.13 million. During the same period in the prior year, the firm earned $0.88 earnings per share. Zscaler's revenue was up 22.6% compared to the same quarter last year. As a group, analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ZS shares. Stephens restated an "overweight" rating and set a $255.00 price objective on shares of Zscaler in a report on Tuesday, May 27th. Truist Financial restated a "buy" rating and set a $300.00 price objective (up previously from $260.00) on shares of Zscaler in a report on Friday, May 30th. UBS Group restated a "buy" rating and set a $315.00 price objective (up previously from $260.00) on shares of Zscaler in a report on Friday, May 30th. Piper Sandler reissued a "neutral" rating and issued a $260.00 target price (up previously from $235.00) on shares of Zscaler in a research note on Friday, May 30th. Finally, Citigroup reissued a "buy" rating and issued a $240.00 target price (up previously from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Eight research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Zscaler has an average rating of "Moderate Buy" and an average price target of $292.38.

Insider Activity at Zscaler

In other Zscaler news, CFO Remo Canessa sold 3,721 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $741,037.15. Following the sale, the chief financial officer now directly owns 213,702 shares in the company, valued at approximately $42,558,753.30. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the sale, the chief executive officer now owns 356,414 shares in the company, valued at approximately $70,979,848.10. This trade represents a 0.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 386,722 shares of company stock worth $93,690,448 over the last ninety days. Company insiders own 18.10% of the company's stock.

About Zscaler

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.