Zscaler, Inc. (NASDAQ:ZS) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC reduced its stake in Zscaler, Inc. (NASDAQ:ZS) by 0.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 128,408 shares of the company’s stock after selling 659 shares during the quarter. Cresset Asset Management LLC owned 0.08% of Zscaler worth $25,479,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. United Capital Management of KS Inc. lifted its holdings in Zscaler by 4.9% during the 1st quarter. United Capital Management of KS Inc. now owns 32,589 shares of the company’s stock worth $6,466,000 after buying an additional 1,508 shares in the last quarter. Ethic Inc. lifted its holdings in Zscaler by 20.1% during the 1st quarter. Ethic Inc. now owns 4,973 shares of the company’s stock worth $1,000,000 after buying an additional 832 shares in the last quarter. Aberdeen Group plc raised its holdings in shares of Zscaler by 130.8% in the 1st quarter. Aberdeen Group plc now owns 57,831 shares of the company’s stock valued at $11,475,000 after purchasing an additional 32,769 shares in the last quarter. Azimuth Capital Investment Management LLC acquired a new stake in shares of Zscaler in the 1st quarter valued at $208,000. Finally, Sienna Gestion acquired a new stake in shares of Zscaler in the 1st quarter valued at $434,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Zscaler

In related news, Director Andrew William Fraser Brown sold 20,333 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $296.72, for a total value of $6,033,207.76. Following the completion of the transaction, the director owned 27,216 shares in the company, valued at $8,075,531.52. This represents a 42.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert Schlossman sold 4,618 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $300.00, for a total transaction of $1,385,400.00. Following the transaction, the insider owned 95,612 shares of the company’s stock, valued at approximately $28,683,600. This trade represents a 4.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 168,256 shares of company stock worth $50,618,544 over the last ninety days. Insiders own 18.10% of the company’s stock.

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $274.97 on Friday. The stock has a market capitalization of $42.81 billion, a price-to-earnings ratio of -1,057.58, a price-to-earnings-growth ratio of 242.96 and a beta of 1.06. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $318.46. The company’s fifty day moving average is $295.02 and its two-hundred day moving average is $244.09.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on ZS. Morgan Stanley lifted their price target on shares of Zscaler from $200.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Friday, May 30th. Guggenheim reissued a “neutral” rating on shares of Zscaler in a research report on Friday, May 30th. Cantor Fitzgerald lifted their target price on shares of Zscaler from $290.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, June 11th. FBN Securities raised shares of Zscaler to a “strong-buy” rating in a report on Friday, May 30th. Finally, Royal Bank Of Canada boosted their price objective on shares of Zscaler from $288.00 to $304.00 and gave the stock an “outperform” rating in a report on Friday, May 30th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $296.82.

Zscaler 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.