Westpac Banking Corp Sells 3,062 Shares of Zscaler, Inc. (NASDAQ:ZS)

Westpac Banking Corp lessened its holdings in Zscaler, Inc. (NASDAQ:ZS) by 64.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,722 shares of the company’s stock after selling 3,062 shares during the quarter. Westpac Banking Corp’s holdings in Zscaler were worth $342,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. ORG Partners LLC raised its stake in Zscaler by 284.8% in the first quarter. ORG Partners LLC now owns 127 shares of the company’s stock valued at $26,000 after purchasing an additional 94 shares in the last quarter. Goodman Advisory Group LLC acquired a new position in Zscaler in the first quarter valued at about $29,000. N.E.W. Advisory Services LLC acquired a new position in Zscaler during the first quarter worth about $29,000. CVA Family Office LLC lifted its holdings in shares of Zscaler by 120.3% in the first quarter. CVA Family Office LLC now owns 152 shares of the company’s stock worth $30,000 after acquiring an additional 83 shares during the last quarter. Finally, Colonial Trust Co SC bought a new position in shares of Zscaler in the fourth quarter worth about $28,000. Institutional investors own 46.45% of the company’s stock.

Insider Activity

In related news, insider Adam Geller sold 3,662 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $306.72, for a total value of $1,123,208.64. Following the transaction, the insider directly owned 46,813 shares in the company, valued at $14,358,483.36. This trade represents a 7.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ajay Mangal sold 120,000 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $300.89, for a total value of $36,106,800.00. Following the completion of the transaction, the insider owned 2,550,210 shares in the company, valued at approximately $767,332,686.90. This represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 200,793 shares of company stock worth $58,752,794. Company insiders own 18.10% of the company’s stock.

Zscaler Stock Performance

Zscaler stock opened at $277.77 on Thursday. The stock has a market capitalization of $43.25 billion, a price-to-earnings ratio of -1,068.35, a PEG ratio of 246.94 and a beta of 1.06. Zscaler, Inc. has a 52-week low of $153.45 and a 52-week high of $318.46. The stock’s 50 day moving average price is $296.18 and its two-hundred day moving average price is $243.05.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $678.03 million for the quarter, compared to analysts’ expectations of $667.13 million. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 EPS. On average, equities research analysts forecast that Zscaler, Inc. will post -0.1 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on ZS. Mizuho increased their target price on shares of Zscaler from $275.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, June 4th. Needham & Company LLC increased their target price on shares of Zscaler from $240.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, May 30th. FBN Securities raised shares of Zscaler to a “strong-buy” rating in a report on Friday, May 30th. Susquehanna increased their target price on shares of Zscaler from $245.00 to $320.00 and gave the stock a “positive” rating in a report on Friday, May 30th. Finally, Wells Fargo & Company raised shares of Zscaler from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $260.00 to $385.00 in a report on Friday, June 13th. Seven research 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 company. According to MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and an average price target of $296.82.

About Zscaler

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.