Bank of New York Mellon Corp Has $106.52 Million Position in Zscaler, Inc. (NASDAQ:ZS)

Bank of New York Mellon Corp reduced its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 0.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 536,845 shares of the company's stock after selling 2,268 shares during the period. Bank of New York Mellon Corp owned approximately 0.35% of Zscaler worth $106,521,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC boosted its position in Zscaler by 284.8% in the 1st quarter. ORG Partners LLC now owns 127 shares of the company's stock valued at $26,000 after buying an additional 94 shares during the last quarter. Goodman Advisory Group LLC acquired a new stake in shares of Zscaler in the 1st quarter valued at about $29,000. Summit Securities Group LLC acquired a new stake in shares of Zscaler in the 4th quarter valued at about $27,000. CVA Family Office LLC raised its stake in shares of Zscaler by 120.3% in the 1st quarter. CVA Family Office LLC now owns 152 shares of the company's stock valued at $30,000 after purchasing an additional 83 shares in the last quarter. Finally, Colonial Trust Co SC acquired a new stake in shares of Zscaler in the 4th quarter valued at about $28,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ZS. Robert W. Baird upped their target price on shares of Zscaler from $295.00 to $315.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Mizuho upped their target price on shares of Zscaler from $275.00 to $290.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Needham & Company LLC upped their target price on shares of Zscaler from $240.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, May 30th. JMP Securities upped their target price on shares of Zscaler from $310.00 to $355.00 and gave the company a "market outperform" rating in a research note on Tuesday, July 1st. Finally, Piper Sandler restated 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. Eight research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $296.82.

Insider Activity

In related news, insider Robert Schlossman sold 3,174 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $305.07, for a total transaction of $968,292.18. Following the completion of the sale, the insider directly owned 88,970 shares in the company, valued at approximately $27,142,077.90. This trade represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,849 shares of the firm'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 $865,241.30. Following the sale, the chief executive officer owned 353,565 shares of the company's stock, valued at $107,377,690.50. The trade was a 0.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,793 shares of company stock valued at $58,752,794 in the last ninety days. 18.10% of the stock is owned by company insiders.

Zscaler Price Performance

Shares of Zscaler stock traded down $6.44 on Friday, hitting $289.74. The company had a trading volume of 2,273,010 shares, compared to its average volume of 2,076,724. The business has a 50-day simple moving average of $282.23 and a 200-day simple moving average of $227.71. The company has a market cap of $45.11 billion, a PE ratio of -1,114.38 and a beta of 1.11. 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 posted its quarterly earnings data on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.08. The business had revenue of $678.03 million during the quarter, compared to analysts' expectations of $667.13 million. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The business's revenue was up 22.6% on a year-over-year basis. During the same period last year, the firm posted $0.88 earnings per share. On average, equities research analysts predict 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.