Zscaler, Inc. (NASDAQ:ZS) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers boosted its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 3.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 133,305 shares of the company's stock after purchasing an additional 4,726 shares during the quarter. Rhumbline Advisers owned about 0.09% of Zscaler worth $26,450,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. LaFleur & Godfrey LLC increased its stake in Zscaler by 0.6% during the fourth quarter. LaFleur & Godfrey LLC now owns 61,985 shares of the company's stock worth $11,183,000 after acquiring an additional 399 shares during the last quarter. Yousif Capital Management LLC acquired a new stake in Zscaler during the 4th quarter worth approximately $214,000. Choreo LLC increased its position in Zscaler by 2.6% during the 4th quarter. Choreo LLC now owns 2,833 shares of the company's stock worth $517,000 after purchasing an additional 73 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of 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 acquiring an additional 6,532 shares in the last quarter. Finally, Ameliora Wealth Management Ltd. acquired a new stake in shares of Zscaler in the fourth quarter worth $190,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Zscaler Stock Performance

Shares of ZS opened at $300.88 on Friday. The firm has a fifty day moving average of $227.81 and a 200-day moving average of $208.86. The company has a market cap of $46.55 billion, a price-to-earnings ratio of -1,203.52 and a beta of 1.14. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $303.73.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 1.58% and a negative return on equity of 0.75%. Zscaler's revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 EPS. Analysts predict that Zscaler, Inc. will post -0.1 EPS for the current year.

Insider Buying and Selling at Zscaler

In related news, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the sale, the chief executive officer now directly owns 356,414 shares in the company, valued at $70,979,848.10. This represents a 0.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 241,771 shares of company stock valued at $50,165,040 in the last quarter. Corporate insiders own 18.10% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ZS. Susquehanna increased their price target on Zscaler from $245.00 to $320.00 and gave the company a "positive" rating in a report on Friday, May 30th. BTIG Research increased their target price on Zscaler from $298.00 to $329.00 and gave the company a "buy" rating in a research note on Wednesday. Evercore ISI increased their target price on Zscaler from $245.00 to $290.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. increased their price objective on shares of Zscaler from $275.00 to $292.00 and gave the company an "overweight" rating in a research report on Friday, May 30th. Finally, BNP Paribas raised shares of Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 price objective for the company in a research report on Monday, April 28th. Ten research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $280.76.

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.

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