Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB cut its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 8.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 52,245 shares of the company's stock after selling 4,876 shares during the period. Handelsbanken Fonder AB's holdings in Zscaler were worth $10,366,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Summit Securities Group LLC acquired a new position in Zscaler in the 4th quarter valued at $27,000. Colonial Trust Co SC acquired a new stake in shares of Zscaler in the fourth quarter valued at about $28,000. Stonebridge Financial Group LLC acquired a new stake in shares of Zscaler in the fourth quarter valued at about $29,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Zscaler by 295.0% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 158 shares of the company's stock valued at $31,000 after buying an additional 118 shares during the last quarter. Finally, Elequin Capital LP acquired a new stake in shares of Zscaler in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 46.45% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Royal Bank of Canada increased their price objective on shares of Zscaler from $288.00 to $304.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Oppenheimer increased their price target on Zscaler from $290.00 to $345.00 and gave the company an "outperform" rating in a report on Friday, June 6th. JMP Securities increased their price target on Zscaler from $240.00 to $310.00 and gave the company a "market outperform" rating in a report on Friday, May 30th. Robert W. Baird raised their target price on Zscaler from $295.00 to $315.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Finally, Stifel Nicolaus raised their target price on Zscaler from $270.00 to $295.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Eight 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $294.03.

Insider Transactions at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the transaction, the chief executive officer now owns 356,414 shares in the company, valued at approximately $70,979,848.10. The trade was a 0.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Ajay Mangal sold 120,000 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $300.89, for a total transaction of $36,106,800.00. Following the transaction, the insider now owns 2,550,210 shares of the company's stock, valued at approximately $767,332,686.90. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 196,242 shares of company stock valued at $55,463,017. 18.10% of the stock is currently owned by corporate insiders.

Zscaler Price Performance

Shares of ZS stock traded up $3.07 during trading on Monday, reaching $305.02. The company's stock had a trading volume of 2,566,285 shares, compared to its average volume of 2,053,590. The company has a market capitalization of $47.49 billion, a price-to-earnings ratio of -1,220.08 and a beta of 1.09. The stock's 50-day moving average price is $243.81 and its 200 day moving average price is $213.51. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $309.19.

Zscaler (NASDAQ:ZS - Get Free Report) last posted 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. The business had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The company's quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 earnings per share. On average, sell-side analysts anticipate that Zscaler, Inc. will post -0.1 EPS 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.