Vontobel Holding Ltd. Sells 8,668 Shares of Zscaler, Inc. (NASDAQ:ZS)

Vontobel Holding Ltd. cut its stake in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 8.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 94,756 shares of the company's stock after selling 8,668 shares during the quarter. Vontobel Holding Ltd. owned approximately 0.06% of Zscaler worth $18,801,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ZS. Koshinski Asset Management Inc. raised its stake in shares of Zscaler by 2.6% in the first quarter. Koshinski Asset Management Inc. now owns 2,801 shares of the company's stock valued at $556,000 after acquiring an additional 70 shares during the last quarter. Amalgamated Bank increased its holdings in Zscaler by 9.7% during the 1st quarter. Amalgamated Bank now owns 6,718 shares of the company's stock valued at $1,333,000 after purchasing an additional 596 shares in the last quarter. Goodman Advisory Group LLC bought a new position in Zscaler in the 1st quarter valued at $29,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in Zscaler by 7.0% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 240,292 shares of the company's stock worth $47,679,000 after purchasing an additional 15,644 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Zscaler by 11.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,232 shares of the company's stock worth $10,198,000 after purchasing an additional 5,228 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.

Insiders Place Their Bets

In other news, insider Robert Schlossman sold 3,174 shares of Zscaler stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $305.07, for a total value 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. The trade was a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Raj Judge sold 2,957 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total value of $898,040.90. Following the sale, the executive vice president directly owned 76,289 shares in the company, valued at $23,168,969.30. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 200,793 shares of company stock worth $58,752,794 over the last three months. 18.10% of the stock is currently owned by corporate insiders.

Zscaler Stock Performance

Zscaler stock traded up $5.42 during midday trading on Thursday, reaching $314.75. 1,367,890 shares of the company's stock were exchanged, compared to its average volume of 2,066,640. The stock's 50-day simple moving average is $272.19 and its 200 day simple moving average is $222.78. The firm has a market cap of $49.01 billion, a price-to-earnings ratio of -1,210.56 and a beta of 1.11. Zscaler, Inc. has a 52 week low of $153.45 and a 52 week high of $317.26.

Zscaler (NASDAQ:ZS - Get Free Report) last announced 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. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The business had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. During the same quarter last year, the firm posted $0.88 EPS. The company's quarterly revenue 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 year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. BNP Paribas upgraded Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 price objective on the stock in a research report on Monday, April 28th. Rosenblatt Securities raised their price target on Zscaler from $235.00 to $315.00 and gave the company a "buy" rating in a report on Friday, May 30th. Jefferies Financial Group lowered their price objective on Zscaler from $245.00 to $240.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Susquehanna upped their target price on shares of Zscaler from $245.00 to $320.00 and gave the company a "positive" rating in a research report on Friday, May 30th. Finally, Scotiabank raised 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. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Zscaler currently has an average rating of "Moderate Buy" and a consensus price target of $296.82.

Zscaler 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.