Assenagon Asset Management S.A. Has $94.14 Million Position in Zscaler, Inc. (NASDAQ:ZS)

Assenagon Asset Management S.A. raised its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 148.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 474,431 shares of the company's stock after purchasing an additional 283,637 shares during the quarter. Assenagon Asset Management S.A. owned about 0.31% of Zscaler worth $94,137,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LaFleur & Godfrey LLC increased its holdings in Zscaler by 0.6% during the 4th quarter. LaFleur & Godfrey LLC now owns 61,985 shares of the company's stock worth $11,183,000 after purchasing an additional 399 shares during the last quarter. Yousif Capital Management LLC acquired a new stake in shares of Zscaler during the 4th quarter valued at approximately $214,000. Choreo LLC lifted its stake in Zscaler by 2.6% during the fourth quarter. Choreo LLC now owns 2,833 shares of the company's stock worth $517,000 after purchasing an additional 73 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Zscaler by 3.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 224,648 shares of the company's stock worth $40,529,000 after purchasing an additional 6,532 shares during the period. Finally, Savant Capital LLC bought a new stake in Zscaler during the fourth quarter valued at $2,742,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Insider Buying and Selling at Zscaler

In other Zscaler news, major shareholder Ajay Mangal sold 120,000 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $300.89, for a total value of $36,106,800.00. Following the sale, the insider now directly owns 2,550,210 shares in the company, valued at $767,332,686.90. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Andrew William Fraser Brown sold 20,333 shares of Zscaler stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $296.72, for a total value of $6,033,207.76. Following the sale, the director now directly owns 27,216 shares in the company, valued at $8,075,531.52. The trade was a 42.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 386,722 shares of company stock worth $93,690,448 over the last ninety days. 18.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ZS shares. Cantor Fitzgerald lifted their price target on shares of Zscaler from $290.00 to $340.00 and gave the company an "overweight" rating in a report on Wednesday. BTIG Research lifted their target price on Zscaler from $298.00 to $329.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Truist Financial reaffirmed a "buy" rating and set a $300.00 target price (up from $260.00) on shares of Zscaler in a report on Friday, May 30th. Royal Bank of Canada increased their target price on Zscaler from $288.00 to $304.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Finally, Oppenheimer upped their price target on shares of Zscaler from $290.00 to $345.00 and gave the stock an "outperform" rating in a research report on Friday, June 6th. Nine analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Zscaler has a consensus rating of "Moderate Buy" and a consensus price target of $288.71.

Zscaler Stock Up 1.3%

Shares of ZS stock traded up $3.76 during trading hours on Thursday, reaching $303.62. 755,728 shares of the stock traded hands, compared to its average volume of 2,054,848. The business has a fifty day moving average price of $236.33 and a 200 day moving average price of $211.46. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $306.78. The firm has a market capitalization of $47.27 billion, a PE ratio of -1,214.48 and a beta of 1.09.

Zscaler (NASDAQ:ZS - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. During the same quarter in the prior year, the firm earned $0.88 EPS. The company's revenue was up 22.6% compared to the same quarter last year. Research analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

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.