Zscaler, Inc. (NASDAQ:ZS) Shares Bought by Lmcg Investments LLC

Lmcg Investments LLC increased its position in shares of Zscaler, Inc. (NASDAQ:ZS) by 29.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,184 shares of the company’s stock after buying an additional 4,339 shares during the period. Lmcg Investments LLC’s holdings in Zscaler were worth $3,806,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the business. Global X Japan Co. Ltd. grew its stake in shares of Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after buying an additional 79 shares during the period. Summit Securities Group LLC acquired a new position in Zscaler in the fourth quarter valued at $27,000. Colonial Trust Co SC purchased a new stake in Zscaler in the 4th quarter valued at $28,000. Stonebridge Financial Group LLC acquired a new stake in shares of Zscaler in the 4th quarter worth $29,000. Finally, Elequin Capital LP purchased a new position in Zscaler in the fourth quarter worth $30,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ZS has been the topic of several recent research reports. Jefferies Financial Group reduced their price objective on Zscaler from $245.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. BTIG Research upped their price objective on Zscaler from $298.00 to $329.00 and gave the stock a “buy” rating in a report on Wednesday. Wedbush boosted their price objective on shares of Zscaler from $240.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, May 30th. Evercore ISI raised their price objective on Zscaler from $245.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, May 30th. Finally, JPMorgan Chase & Co. upped their target price on shares of Zscaler from $275.00 to $292.00 and gave the company an “overweight” rating in a research note on Friday, May 30th. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $280.76.

Insider Activity at Zscaler

In other news, insider Robert Schlossman sold 2,878 shares of Zscaler stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $573,153.70. Following the sale, the insider now owns 107,587 shares of the company’s stock, valued at approximately $21,425,951.05. The trade was a 2.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now directly owns 2,580,210 shares in the company, valued at $517,822,344.90. This trade represents a 6.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 241,771 shares of company stock valued at $50,165,040 over the last three months. 18.10% of the stock is owned by corporate insiders.

Zscaler Trading Up 0.6%

Shares of NASDAQ ZS opened at $296.85 on Thursday. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $303.42. The stock has a fifty day simple moving average of $225.76 and a two-hundred day simple moving average of $208.18. The firm has a market cap of $45.93 billion, a price-to-earnings ratio of -1,187.40 and a beta of 1.14.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. During the same period last year, the company earned $0.88 earnings per share. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. Analysts forecast that Zscaler, Inc. will post -0.1 EPS for the current year.

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.