Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Perpetual Ltd

Perpetual Ltd cut its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 67.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,450 shares of the company's stock after selling 3,062 shares during the quarter. Perpetual Ltd's holdings in Zscaler were worth $288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its stake in Zscaler by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock worth $298,710,000 after purchasing an additional 32,545 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in Zscaler by 25.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock worth $291,935,000 after purchasing an additional 332,307 shares in the last quarter. AQR Capital Management LLC grew its stake in Zscaler by 120.1% during the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock worth $173,921,000 after purchasing an additional 525,956 shares in the last quarter. Artisan Partners Limited Partnership grew its stake in Zscaler by 30.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company's stock worth $156,739,000 after purchasing an additional 204,996 shares in the last quarter. Finally, DnB Asset Management AS grew its stake in Zscaler by 66.8% during the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock worth $120,403,000 after purchasing an additional 267,162 shares in the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ZS shares. Rosenblatt Securities boosted their target price on Zscaler from $235.00 to $315.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Citigroup reissued a "buy" rating and set a $240.00 target price (up from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Loop Capital lifted their price target on Zscaler from $250.00 to $260.00 and gave the stock a "hold" rating in a report on Friday, May 30th. Wedbush lifted their price target on Zscaler from $240.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Finally, Stephens reaffirmed an "overweight" rating and set a $255.00 price target on shares of Zscaler in a report on Tuesday, May 27th. Eight research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Zscaler has a consensus rating of "Moderate Buy" and a consensus price target of $295.50.

Zscaler Stock Up 0.5%

Shares of ZS stock opened at $315.32 on Friday. The stock has a market capitalization of $49.10 billion, a PE ratio of -1,212.77 and a beta of 1.09. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $317.26. The stock's 50-day moving average price is $263.30 and its 200 day moving average price is $219.91.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $678.03 million for the quarter, compared to analysts' expectations of $667.13 million. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The firm's revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 EPS. Analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Andrew William Fraser Brown sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total value of $2,060,000.00. Following the sale, the director now owns 27,216 shares in the company, valued at $5,606,496. This represents a 26.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Adam Geller sold 3,662 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $306.72, for a total value of $1,123,208.64. Following the completion of the sale, the insider now owns 46,813 shares in the company, valued at approximately $14,358,483.36. This represents a 7.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 210,793 shares of company stock worth $60,812,794. Company insiders own 18.10% of the company's stock.

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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