Lmcg Investments LLC Buys 4,339 Shares of Zscaler, Inc. (NASDAQ:ZS)

Lmcg Investments LLC grew its position in Zscaler, Inc. (NASDAQ:ZS) by 29.2% in the first quarter, HoldingsChannel.com reports. The firm owned 19,184 shares of the company’s stock after acquiring an additional 4,339 shares during the period. Lmcg Investments LLC’s holdings in Zscaler were worth $3,806,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of ZS. Geode Capital Management LLC boosted its holdings in shares of Zscaler by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company’s stock valued at $298,710,000 after purchasing an additional 32,545 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in Zscaler by 25.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock worth $291,935,000 after acquiring an additional 332,307 shares during the period. AQR Capital Management LLC boosted its stake in shares of Zscaler by 120.1% during 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 in the last quarter. Artisan Partners Limited Partnership boosted its position in Zscaler by 30.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock valued at $156,739,000 after purchasing an additional 204,996 shares in the last quarter. Finally, DnB Asset Management AS grew its position in shares of Zscaler by 66.8% in the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock worth $120,403,000 after buying an additional 267,162 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the completion of the sale, the chief executive officer now owns 356,414 shares in the company, valued at $70,979,848.10. This represents a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the sale, the insider now directly owns 2,580,210 shares of the company’s stock, valued at approximately $517,822,344.90. This represents a 6.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 241,771 shares of company stock valued at $50,165,040. Insiders own 18.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on ZS. Roth Capital reaffirmed a “neutral” rating on shares of Zscaler in a report on Wednesday, May 28th. Loop Capital lifted their price target on Zscaler from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Friday, May 30th. Canaccord Genuity Group raised their price objective on Zscaler from $230.00 to $305.00 and gave the stock a “buy” rating in a research note on Monday. Needham & Company LLC upped their target price on Zscaler from $240.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Finally, Wall Street Zen downgraded shares of Zscaler from a “buy” rating to a “hold” rating in a report on Saturday, May 31st. Ten 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 MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and an average target price of $280.76.

Zscaler Stock Up 0.6%

Shares of NASDAQ:ZS opened at $296.85 on Thursday. Zscaler, Inc. has a fifty-two week low of $153.45 and a fifty-two week high of $303.42. The firm’s 50 day moving average price is $225.76 and its 200 day moving average price is $208.18. The stock 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 announced its quarterly earnings data on Thursday, May 29th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $678.03 million for 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%. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 EPS. On average, equities analysts anticipate that Zscaler, Inc. will post -0.1 EPS for the current year.

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.