LA Financiere DE L Echiquier Sells 122,114 Shares of Zscaler, Inc. (NASDAQ:ZS)

LA Financiere DE L Echiquier cut its holdings in shares of Zscaler, Inc. (NASDAQ:ZSGet Rating) by 40.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 182,084 shares of the company’s stock after selling 122,114 shares during the quarter. Zscaler accounts for approximately 1.8% of LA Financiere DE L Echiquier’s holdings, making the stock its 21st biggest holding. LA Financiere DE L Echiquier’s holdings in Zscaler were worth $43,934,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new position in Zscaler in the 4th quarter worth approximately $202,020,000. Capital Research Global Investors lifted its position in shares of Zscaler by 18.7% in the 4th quarter. Capital Research Global Investors now owns 3,117,454 shares of the company’s stock worth $1,001,731,000 after purchasing an additional 490,831 shares during the period. First Trust Advisors LP boosted its position in Zscaler by 27.4% during the 4th quarter. First Trust Advisors LP now owns 1,293,179 shares of the company’s stock valued at $415,537,000 after acquiring an additional 278,180 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Zscaler by 5,657.1% in the 4th quarter. ProShare Advisors LLC now owns 237,481 shares of the company’s stock worth $76,310,000 after acquiring an additional 233,356 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Zscaler by 533.5% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 132,948 shares of the company’s stock valued at $42,775,000 after purchasing an additional 111,961 shares in the last quarter. 43.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on ZS. Royal Bank of Canada reduced their price target on Zscaler from $330.00 to $200.00 in a report on Monday, May 23rd. Stephens initiated coverage on Zscaler in a report on Wednesday, May 25th. They set an “overweight” rating and a $200.00 price target on the stock. Piper Sandler reduced their price target on shares of Zscaler from $260.00 to $160.00 in a research note on Friday, May 27th. The Goldman Sachs Group lowered their price objective on shares of Zscaler from $326.00 to $281.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 12th. Finally, Wedbush cut their target price on shares of Zscaler to $200.00 in a research report on Friday, May 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and an average price target of $246.65.

Insiders Place Their Bets

In other Zscaler news, CFO Remo Canessa sold 5,010 shares of the business’s stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $136.67, for a total transaction of $684,716.70. Following the sale, the chief financial officer now directly owns 262,388 shares of the company’s stock, valued at $35,860,567.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Robert Schlossman sold 239 shares of the firm’s stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $150.00, for a total value of $35,850.00. Following the completion of the sale, the insider now owns 112,622 shares in the company, valued at approximately $16,893,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Remo Canessa sold 5,010 shares of the stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $136.67, for a total transaction of $684,716.70. Following the completion of the sale, the chief financial officer now directly owns 262,388 shares in the company, valued at $35,860,567.96. The disclosure for this sale can be found here. Insiders sold 49,710 shares of company stock valued at $7,275,302 in the last three months. Corporate insiders own 20.30% of the company’s stock.

Zscaler Price Performance

NASDAQ ZS traded up $3.05 during trading on Thursday, hitting $151.76. 29,332 shares of the stock traded hands, compared to its average volume of 2,589,240. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.80. Zscaler, Inc. has a 12-month low of $125.12 and a 12-month high of $376.11. The firm has a 50-day simple moving average of $152.32 and a 200-day simple moving average of $202.26. The company has a market capitalization of $21.53 billion, a P/E ratio of -55.52 and a beta of 1.09.

Zscaler (NASDAQ:ZSGet Rating) last posted its earnings results on Thursday, May 26th. The company reported ($0.61) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.02. Zscaler had a negative net margin of 38.52% and a negative return on equity of 58.37%. The firm had revenue of $286.81 million during the quarter, compared to analyst estimates of $271.47 million. During the same period last year, the firm posted ($0.30) earnings per share. Zscaler’s revenue for the quarter was up 62.6% compared to the same quarter last year. As a group, analysts predict that Zscaler, Inc. will post -2.31 EPS for the current year.

About Zscaler

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Zscaler, Inc operates as a cloud security company worldwide. The company provides Zscaler Internet Access solution that provides users, servers, operational technology, Internet of Things device 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.

Further Reading

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Institutional Ownership by Quarter for Zscaler (NASDAQ:ZS)

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