MIG Capital LLC Buys 2,672 Shares of Zscaler, Inc. $ZS

MIG Capital LLC grew its stake in Zscaler, Inc. (NASDAQ:ZS) by 146.4% during the 1st quarter, HoldingsChannel reports. The fund owned 4,497 shares of the company’s stock after purchasing an additional 2,672 shares during the quarter. Zscaler comprises 0.1% of MIG Capital LLC’s holdings, making the stock its 26th biggest position. MIG Capital LLC’s holdings in Zscaler were worth $892,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ZS. Vanguard Group Inc. raised its stake in shares of Zscaler by 3.1% in the first quarter. Vanguard Group Inc. now owns 9,890,506 shares of the company’s stock worth $1,962,474,000 after purchasing an additional 294,034 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Zscaler by 23.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,048,238 shares of the company’s stock worth $604,831,000 after purchasing an additional 578,883 shares during the last quarter. AQR Capital Management LLC raised 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 worth $173,921,000 after purchasing an additional 525,956 shares during the last quarter. Nuveen LLC purchased a new position in shares of Zscaler in the first quarter worth $153,340,000. Finally, Northern Trust Corp raised its stake in shares of Zscaler by 23.1% in the fourth quarter. Northern Trust Corp now owns 638,042 shares of the company’s stock worth $115,109,000 after purchasing an additional 119,536 shares during the last quarter. 46.45% of the stock is owned by institutional investors.

Insider Activity at Zscaler

In related news, insider Robert Schlossman sold 4,618 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $300.00, for a total transaction of $1,385,400.00. Following the completion of the transaction, the insider directly owned 95,612 shares of the company’s stock, valued at approximately $28,683,600. This represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adam Geller sold 3,662 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $306.72, for a total value of $1,123,208.64. Following the transaction, the insider directly owned 46,813 shares of the company’s stock, valued at approximately $14,358,483.36. The trade was a 7.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,256 shares of company stock valued at $50,618,544 in the last 90 days. 18.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ZS. JMP Securities upped their price objective on Zscaler from $310.00 to $355.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 1st. Needham & Company LLC upped their price objective on Zscaler from $240.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Robert W. Baird upped their price objective on Zscaler from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, May 30th. Rosenblatt Securities upped their price objective on Zscaler from $235.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Finally, Mizuho upped their price objective on Zscaler from $275.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, June 4th. Seven investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $296.82.

Zscaler Stock Up 0.7%

NASDAQ ZS opened at $277.03 on Tuesday. The firm has a market cap of $43.13 billion, a price-to-earnings ratio of -1,065.50, a price-to-earnings-growth ratio of 246.53 and a beta of 1.06. The business has a 50-day moving average price of $294.56 and a 200-day moving average price of $245.19. Zscaler, Inc. has a twelve month low of $153.45 and a twelve month high of $318.46.

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 return on equity of 0.59% and a negative net margin of 1.52%. The firm had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. Research analysts expect that Zscaler, Inc. will post -0.1 EPS for the current fiscal 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.