Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 19.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 6,267 shares of the company's stock after selling 1,551 shares during the period. Principal Financial Group Inc.'s holdings in Zscaler were worth $1,243,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. ORG Partners LLC raised its holdings in Zscaler by 284.8% in the 1st quarter. ORG Partners LLC now owns 127 shares of the company's stock worth $26,000 after purchasing an additional 94 shares during the period. Goodman Advisory Group LLC bought a new position in Zscaler in the first quarter worth approximately $29,000. Summit Securities Group LLC purchased a new position in Zscaler in the fourth quarter worth $27,000. CVA Family Office LLC grew its holdings in shares of Zscaler by 120.3% during the first quarter. CVA Family Office LLC now owns 152 shares of the company's stock valued at $30,000 after buying an additional 83 shares during the last quarter. Finally, Colonial Trust Co SC purchased a new stake in Zscaler in the fourth quarter valued at $28,000. 46.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ZS has been the topic of several recent analyst reports. KeyCorp upped their target price on shares of Zscaler from $290.00 to $310.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. boosted their target price on shares of Zscaler from $292.00 to $348.00 and gave the company an "overweight" rating in a research note on Monday, June 16th. BTIG Research reiterated a "buy" rating on shares of Zscaler in a report on Thursday, July 10th. Royal Bank Of Canada upped their price objective 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. Finally, Wells Fargo & Company raised shares of Zscaler from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $260.00 to $385.00 in a research report on Friday, June 13th. Eight investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Zscaler currently has a consensus rating of "Moderate Buy" and a consensus target price of $296.82.

Zscaler Price Performance

Zscaler stock traded up $2.43 during trading hours on Friday, hitting $288.72. 1,819,101 shares of the stock traded hands, compared to its average volume of 2,071,037. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $318.46. The stock has a market capitalization of $44.95 billion, a price-to-earnings ratio of -1,110.46 and a beta of 1.11. The firm's 50 day moving average price is $287.76 and its 200-day moving average price is $231.65.

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, beating the consensus estimate of $0.76 by $0.08. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The firm had revenue of $678.03 million during the quarter, compared to analysts' expectations of $667.13 million. During the same quarter last year, the firm earned $0.88 earnings per share. The business's revenue for the quarter was up 22.6% on a year-over-year basis. Research analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Insider Transactions at Zscaler

In other Zscaler news, insider Robert Schlossman sold 4,618 shares of Zscaler stock in a transaction dated 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 completion of the sale, the insider directly owned 95,612 shares of the company's stock, valued at $28,683,600. The trade was a 4.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Adam Geller sold 3,662 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were 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 directly owned 46,813 shares of the company's stock, valued at $14,358,483.36. The trade was a 7.26% 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 90 days. 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.