Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Clare Market Investments LLC

Clare Market Investments LLC decreased its stake in Zscaler, Inc. (NASDAQ:ZS) by 11.0% in the 1st quarter, Holdings Channel reports. The firm owned 24,210 shares of the company’s stock after selling 2,980 shares during the quarter. Zscaler accounts for approximately 1.3% of Clare Market Investments LLC’s portfolio, making the stock its 17th biggest position. Clare Market Investments LLC’s holdings in Zscaler were worth $4,804,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ZS. AQR Capital Management LLC lifted its stake in shares of Zscaler by 120.1% in the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock valued at $173,921,000 after purchasing an additional 525,956 shares during the period. Natixis purchased a new position in Zscaler during the 4th quarter valued at about $87,775,000. Greenvale Capital LLP purchased a new position in Zscaler during the 4th quarter valued at about $72,164,000. Pictet Asset Management Holding SA increased its holdings in Zscaler by 25.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock valued at $291,935,000 after acquiring an additional 332,307 shares in the last quarter. Finally, DnB Asset Management AS increased its holdings in Zscaler by 66.8% during the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock valued at $120,403,000 after acquiring an additional 267,162 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Insider Buying and Selling at Zscaler

In other Zscaler news, insider Robert Schlossman sold 2,878 shares of Zscaler stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $573,153.70. Following the transaction, the insider now directly owns 107,587 shares of the company’s stock, valued at $21,425,951.05. The trade was a 2.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction that occurred on 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 transaction, the insider now directly owns 2,580,210 shares in the company, valued at approximately $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 a total of 241,771 shares of company stock valued at $50,165,040 over the last ninety days. Corporate insiders own 18.10% of the company’s stock.

Zscaler Stock Performance

Zscaler stock 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 firm has a 50 day moving average price of $225.76 and a 200 day moving average price of $208.18. The company 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 released its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. Zscaler’s revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 earnings per share. Sell-side analysts predict that Zscaler, Inc. will post -0.1 EPS for the current year.

Analyst Upgrades and Downgrades

ZS has been the subject of several recent research reports. FBN Securities upgraded shares of Zscaler to a “strong-buy” rating in a report on Friday, May 30th. BMO Capital Markets raised their target price on shares of Zscaler from $233.00 to $295.00 and gave the company an “outperform” rating in a report on Friday, May 30th. Wells Fargo & Company raised their target price on shares of Zscaler from $210.00 to $260.00 and gave the company an “equal weight” rating in a report on Friday, May 30th. Cantor Fitzgerald raised their target price on shares of Zscaler from $250.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, May 27th. Finally, Jefferies Financial Group dropped their target price on shares of Zscaler from $245.00 to $240.00 and set a “buy” rating for the company in a report on Monday, March 31st. Ten equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.76.

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.