Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd has decreased its stake in Zscaler, Inc. by 24.0%, owning 5,211 shares valued at approximately $1,033,000 after selling 1,646 shares in the first quarter.
• Zscaler's recent quarterly earnings report exceeded estimates, with an EPS of $0.84 compared to the consensus estimate of $0.76 and a year-over-year revenue increase of 22.6%.
• Analysts are optimistic about Zscaler, with several raising target prices and a consensus rating of "Moderate Buy", indicating positive market sentiment towards the stock.

Gulf International Bank UK Ltd reduced its stake in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 24.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,211 shares of the company's stock after selling 1,646 shares during the period. Gulf International Bank UK Ltd's holdings in Zscaler were worth $1,033,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its stake in Zscaler by 96.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 25,579 shares of the company's stock valued at $4,615,000 after purchasing an additional 12,531 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Zscaler during the fourth quarter valued at approximately $28,072,000. Rockefeller Capital Management L.P. acquired a new stake in Zscaler during the fourth quarter valued at approximately $3,346,000. Summit Investment Advisors Inc. lifted its stake in Zscaler by 7.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,881 shares of the company's stock valued at $881,000 after purchasing an additional 333 shares during the last quarter. Finally, CreativeOne Wealth LLC acquired a new stake in Zscaler during the fourth quarter valued at approximately $431,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Stock Up 1.5%

Shares of ZS opened at $274.97 on Friday. The company's fifty day moving average is $295.02 and its 200-day moving average is $244.09. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $318.46. The firm has a market cap of $42.81 billion, a price-to-earnings ratio of -1,057.58, a price-to-earnings-growth ratio of 242.96 and a beta of 1.06.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The company had revenue of $678.03 million for the quarter, compared to analyst estimates of $667.13 million. During the same quarter in the prior year, the business posted $0.88 EPS. Zscaler's quarterly revenue was up 22.6% on a year-over-year basis. As a group, research analysts predict that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on ZS shares. Royal Bank Of Canada increased their target price on shares of Zscaler from $288.00 to $304.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Scotiabank increased their target price on shares of Zscaler from $310.00 to $360.00 and gave the company a "sector outperform" rating in a research note on Friday, June 6th. Wall Street Zen raised shares of Zscaler from a "hold" rating to a "buy" rating in a research note on Sunday, June 8th. UBS Group boosted their price target on shares of Zscaler from $315.00 to $365.00 and gave the company a "buy" rating in a report on Friday, June 27th. Finally, Stephens reiterated an "overweight" rating and set a $255.00 price objective on shares of Zscaler in a research report on Tuesday, May 27th. Seven 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 MarketBeat, Zscaler has a consensus rating of "Moderate Buy" and an average price target of $296.82.

Insider Activity at Zscaler

In related news, insider Syam Nair sold 4,064 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total transaction of $1,234,236.80. Following the completion of the sale, the insider directly owned 106,659 shares of the company's stock, valued at approximately $32,392,338.30. This represents a 3.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Schlossman sold 4,618 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $300.00, for a total transaction of $1,385,400.00. Following the sale, the insider directly owned 95,612 shares of the company's stock, valued at approximately $28,683,600. This represents a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 168,256 shares of company stock worth $50,618,544 over the last quarter. 18.10% of the stock is currently owned by corporate insiders.

Zscaler Company 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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