Synovus Financial Corp Raises Holdings in Zscaler, Inc. (NASDAQ:ZS)

Synovus Financial Corp raised its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 17.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,034 shares of the company’s stock after buying an additional 607 shares during the period. Synovus Financial Corp’s holdings in Zscaler were worth $696,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its position in shares of Zscaler by 26.9% during the first quarter. Rockefeller Capital Management L.P. now owns 10,825 shares of the company’s stock worth $1,858,000 after buying an additional 2,298 shares during the period. First Pacific Advisors LP raised its stake in shares of Zscaler by 17.6% in the first quarter. First Pacific Advisors LP now owns 1,095 shares of the company’s stock valued at $188,000 after acquiring an additional 164 shares in the last quarter. Davy Global Fund Management Ltd raised its stake in shares of Zscaler by 58.1% in the first quarter. Davy Global Fund Management Ltd now owns 11,813 shares of the company’s stock valued at $2,028,000 after acquiring an additional 4,339 shares in the last quarter. Achmea Investment Management B.V. raised its stake in shares of Zscaler by 34.1% in the first quarter. Achmea Investment Management B.V. now owns 5,383 shares of the company’s stock valued at $924,000 after acquiring an additional 1,368 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its stake in Zscaler by 4.1% in the first quarter. Vontobel Holding Ltd. now owns 62,483 shares of the company’s stock valued at $10,726,000 after buying an additional 2,489 shares in the last quarter. Institutional investors and hedge funds own 40.20% of the company’s stock.

Shares of ZS opened at $204.91 on Friday. Zscaler, Inc. has a twelve month low of $98.55 and a twelve month high of $230.88. The firm has a 50 day simple moving average of $183.01. The stock has a market cap of $28.07 billion, a price-to-earnings ratio of -142.30 and a beta of 0.80. The company has a debt-to-equity ratio of 1.76, a current ratio of 3.35 and a quick ratio of 3.35.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Monday, May 24th. The company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.08. Zscaler had a negative return on equity of 34.31% and a negative net margin of 35.71%. The company had revenue of $176.40 million for the quarter, compared to analyst estimates of $163.73 million. During the same quarter in the previous year, the company earned $0.07 EPS. The firm’s revenue for the quarter was up 59.6% compared to the same quarter last year. On average, equities analysts predict that Zscaler, Inc. will post -1.51 EPS for the current fiscal year.

A number of research firms have weighed in on ZS. Loop Capital raised their price target on Zscaler from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, February 26th. Cowen began coverage on Zscaler in a research note on Wednesday, May 26th. They issued an “outperform” rating and a $225.00 price target on the stock. Credit Suisse Group began coverage on Zscaler in a research note on Tuesday, March 16th. They issued an “outperform” rating and a $230.00 price target on the stock. Berenberg Bank upgraded Zscaler from a “hold” rating to a “buy” rating and raised their price target for the company from $209.00 to $235.00 in a research note on Friday, March 5th. Finally, TheStreet raised Zscaler from a “d” rating to a “c-” rating in a report on Tuesday, March 16th. Five investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $209.08.

In other Zscaler news, CFO Remo Canessa sold 4,699 shares of the business’s stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $183.31, for a total value of $861,373.69. Following the completion of the transaction, the chief financial officer now directly owns 302,889 shares in the company, valued at approximately $55,522,582.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Amit Sinha sold 8,113 shares of the business’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $183.31, for a total value of $1,487,194.03. Following the completion of the transaction, the insider now owns 241,533 shares of the company’s stock, valued at $44,275,414.23. The disclosure for this sale can be found here. Insiders have sold a total of 127,008 shares of company stock valued at $24,231,565 over the last 90 days. Insiders own 21.40% of the company’s stock.

About Zscaler

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, and 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 internally managed applications, either hosted internally in data centers, and private or public clouds.

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Institutional Ownership by Quarter for Zscaler (NASDAQ:ZS)

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