Zscaler, Inc. (NASDAQ:ZS) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its stake in shares of Zscaler, Inc. (NASDAQ:ZS) by 324.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,902 shares of the company’s stock after purchasing an additional 41,190 shares during the quarter. SG Americas Securities LLC’s holdings in Zscaler were worth $10,695,000 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 business. Abacus FCF Advisors LLC increased its stake in Zscaler by 371.6% in the 1st quarter. Abacus FCF Advisors LLC now owns 73,772 shares of the company’s stock valued at $14,638,000 after buying an additional 58,129 shares during the period. GAMMA Investing LLC boosted its position in shares of Zscaler by 43.1% in the 1st quarter. GAMMA Investing LLC now owns 641 shares of the company’s stock worth $127,000 after buying an additional 193 shares in the last quarter. Pallas Capital Advisors LLC boosted its position in shares of Zscaler by 85.9% in the 1st quarter. Pallas Capital Advisors LLC now owns 8,347 shares of the company’s stock worth $1,656,000 after buying an additional 3,856 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Zscaler by 161.0% in the 1st quarter. Farther Finance Advisors LLC now owns 890 shares of the company’s stock worth $179,000 after buying an additional 549 shares in the last quarter. Finally, Wedmont Private Capital purchased a new stake in shares of Zscaler in the 1st quarter worth about $418,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Stock Up 0.6%

NASDAQ ZS opened at $299.86 on Thursday. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $306.78. The firm has a market capitalization of $46.69 billion, a PE ratio of -1,199.44 and a beta of 1.09. The stock’s 50 day moving average is $236.33 and its 200 day moving average is $211.46.

Zscaler (NASDAQ:ZS) last released 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 0.75% and a negative net margin of 1.58%. The business had revenue of $678.03 million for the quarter, compared to the consensus estimate of $667.13 million. During the same period in the previous year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. On average, research analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Insider Activity

In other Zscaler news, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the transaction, the insider now owns 2,580,210 shares of the company’s stock, valued at approximately $517,822,344.90. This represents a 6.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Syam Nair sold 28,947 shares of the firm’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $250.00, for a total value of $7,236,750.00. Following the completion of the transaction, the insider now directly owns 110,566 shares in the company, valued at $27,641,500. This trade represents a 20.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 386,722 shares of company stock valued at $93,690,448 over the last ninety days. 18.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ZS has been the subject of a number of research analyst reports. KeyCorp upped their price objective on shares of Zscaler from $290.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, May 30th. Needham & Company LLC increased their price objective on shares of Zscaler from $240.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, May 30th. BMO Capital Markets increased their price objective on shares of Zscaler from $233.00 to $295.00 and gave the company an “outperform” rating in a research report on Friday, May 30th. Bank of America raised their price target on shares of Zscaler from $285.00 to $340.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Stifel Nicolaus raised their price objective on Zscaler from $270.00 to $295.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. Nine research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and an average price target of $288.71.

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.