Truvestments Capital LLC Has $419,000 Stock Holdings in Zscaler, Inc. $ZS

Key Points

• Truvestments Capital LLC reduced its position in Zscaler, Inc. by 42.0%, lowering its holdings to 2,112 shares valued at approximately $419,000.
• Insider selling included CEO Jagtar Singh Chaudhry and EVP Raj Judge, who sold shares valued at over $1.76 million combined.
• The company's stock shows a current market capitalization of $42.52 billion with a significant increase in quarterly revenue, reporting $678.03 million against estimates of $667.13 million.

Truvestments Capital LLC lessened its position in Zscaler, Inc. (NASDAQ:ZS - Free Report) by 42.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,112 shares of the company's stock after selling 1,528 shares during the quarter. Truvestments Capital LLC's holdings in Zscaler were worth $419,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its position in Zscaler by 43.1% in the 1st quarter. GAMMA Investing LLC now owns 641 shares of the company's stock valued at $127,000 after buying an additional 193 shares during the last quarter. Allworth Financial LP raised its position in Zscaler by 47.4% in the 1st quarter. Allworth Financial LP now owns 1,002 shares of the company's stock valued at $211,000 after buying an additional 322 shares during the last quarter. Krane Funds Advisors LLC raised its position in Zscaler by 36.4% in the 1st quarter. Krane Funds Advisors LLC now owns 1,667 shares of the company's stock valued at $331,000 after buying an additional 445 shares during the last quarter. Merit Financial Group LLC raised its position in Zscaler by 42.0% in the 1st quarter. Merit Financial Group LLC now owns 6,197 shares of the company's stock valued at $1,230,000 after buying an additional 1,832 shares during the last quarter. Finally, National Pension Service raised its position in Zscaler by 11.2% in the 1st quarter. National Pension Service now owns 171,847 shares of the company's stock valued at $34,098,000 after buying an additional 17,342 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ZS shares. JPMorgan Chase & Co. lifted their target price on Zscaler from $292.00 to $348.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Needham & Company LLC boosted their price target on Zscaler from $240.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Oppenheimer boosted their price target on Zscaler from $290.00 to $345.00 and gave the stock an "outperform" rating in a research report on Friday, June 6th. Barclays boosted their price target on Zscaler from $290.00 to $300.00 and gave the stock an "overweight" rating in a research report on Monday, August 25th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Zscaler in a research report on Friday, May 30th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $296.49.

Zscaler Stock Down 1.2%

Shares of NASDAQ ZS traded down $3.37 during midday trading on Friday, hitting $277.05. 1,492,491 shares of the company's stock were exchanged, compared to its average volume of 1,379,851. Zscaler, Inc. has a 12 month low of $153.45 and a 12 month high of $318.46. The company's 50 day moving average price is $289.20 and its 200 day moving average price is $249.10. The firm has a market capitalization of $43.14 billion, a PE ratio of -1,065.58, a price-to-earnings-growth ratio of 259.58 and a beta of 1.06.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its 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 return on equity of 0.59% and a negative net margin of 1.52%.The company had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. During the same period in the previous year, the company posted $0.88 EPS. The firm's revenue for the quarter was up 22.6% compared to the same quarter last year. On average, equities research analysts anticipate that Zscaler, Inc. will post -0.1 EPS for the current year.

Insiders Place Their Bets

In related news, insider Robert Schlossman sold 3,174 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was 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 $27,142,077.90. The trade was a 3.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Raj Judge sold 2,957 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total value of $898,040.90. Following the completion of the sale, the executive vice president owned 76,289 shares of the company's stock, valued at $23,168,969.30. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,256 shares of company stock worth $50,618,544 over the last three months. 18.10% of the stock is currently owned by corporate insiders.

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.