Lbp Am Sa Sells 39,579 Shares of Zscaler, Inc. (NASDAQ:ZS)

Lbp Am Sa lessened its position in Zscaler, Inc. (NASDAQ:ZS) by 10.8% during the first quarter, Holdings Channel.com reports. The fund owned 327,399 shares of the company’s stock after selling 39,579 shares during the period. Zscaler accounts for 1.0% of Lbp Am Sa’s holdings, making the stock its 19th largest holding. Lbp Am Sa’s holdings in Zscaler were worth $64,963,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Zscaler by 43.1% during the first quarter. GAMMA Investing LLC now owns 641 shares of the company’s stock valued at $127,000 after purchasing an additional 193 shares during the last quarter. Krane Funds Advisors LLC boosted its position in shares of Zscaler by 36.4% in the first quarter. Krane Funds Advisors LLC now owns 1,667 shares of the company’s stock worth $331,000 after purchasing an additional 445 shares during the period. Merit Financial Group LLC boosted its position in shares of Zscaler by 42.0% during the first quarter. Merit Financial Group LLC now owns 6,197 shares of the company’s stock worth $1,230,000 after acquiring an additional 1,832 shares during the last quarter. Arlington Capital Management Inc. bought a new position in shares of Zscaler during the fourth quarter worth $2,107,000. Finally, DnB Asset Management AS boosted its position in shares of Zscaler by 66.8% during the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock worth $120,403,000 after acquiring an additional 267,162 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $312.44 on Wednesday. Zscaler, Inc. has a 1 year low of $153.45 and a 1 year high of $318.46. The firm has a market capitalization of $48.65 billion, a PE ratio of -1,201.69 and a beta of 1.11. The firm’s 50-day moving average is $277.85 and its two-hundred day moving average is $225.62.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 earnings per share. Analysts expect that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Insider Transactions at Zscaler

In related news, insider Adam Geller sold 3,662 shares of the company’s stock in a transaction on 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 owned 46,813 shares in the company, valued at $14,358,483.36. This represents a 7.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew William Fraser Brown sold 20,333 shares of the company’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $296.72, for a total transaction of $6,033,207.76. Following the completion of the sale, the director owned 27,216 shares of the company’s stock, valued at approximately $8,075,531.52. This trade represents a 42.76% decrease in their position. 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 over the last three months. 18.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ZS shares. Evercore ISI upped their price target on shares of Zscaler from $245.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, May 30th. KeyCorp upped their price target 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. Wall Street Zen raised shares of Zscaler from a “hold” rating to a “buy” rating in a research note on Sunday, June 8th. Truist Financial reissued a “buy” rating and issued a $300.00 target price (up previously from $260.00) on shares of Zscaler in a research note on Friday, May 30th. Finally, Oppenheimer increased their target price on shares of Zscaler from $290.00 to $345.00 and gave the company an “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 issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and a consensus target price of $296.82.

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.