Xact Kapitalforvaltning AB acquired a new position in Zscaler Inc (NASDAQ:ZS) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 9,000 shares of the company’s stock, valued at approximately $638,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quantamental Technologies LLC purchased a new position in shares of Zscaler in the fourth quarter worth $39,000. First Trust Advisors LP increased its position in Zscaler by 474.2% during the 1st quarter. First Trust Advisors LP now owns 586,138 shares of the company’s stock valued at $41,575,000 after purchasing an additional 484,056 shares during the period. Spark Investment Management LLC increased its position in Zscaler by 264.1% during the 1st quarter. Spark Investment Management LLC now owns 306,200 shares of the company’s stock valued at $21,718,000 after purchasing an additional 222,100 shares during the period. Tocqueville Asset Management L.P. increased its position in Zscaler by 22.9% during the 4th quarter. Tocqueville Asset Management L.P. now owns 17,350 shares of the company’s stock valued at $680,000 after purchasing an additional 3,230 shares during the period. Finally, Strs Ohio increased its position in Zscaler by 629.4% during the 1st quarter. Strs Ohio now owns 24,800 shares of the company’s stock valued at $1,759,000 after purchasing an additional 21,400 shares during the period. Hedge funds and other institutional investors own 34.36% of the company’s stock.

Shares of ZS stock traded up $2.43 during mid-day trading on Thursday, reaching $79.60. 79,943 shares of the company’s stock traded hands, compared to its average volume of 2,642,125. Zscaler Inc has a 12 month low of $30.72 and a 12 month high of $80.38. The stock has a market cap of $9.75 billion, a PE ratio of -257.29 and a beta of 1.19.

Zscaler (NASDAQ:ZS) last announced its earnings results on Thursday, May 30th. The company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01). The business had revenue of $79.10 million for the quarter, compared to the consensus estimate of $74.92 million. Zscaler had a negative net margin of 11.12% and a negative return on equity of 10.95%. The business’s quarterly revenue was up 60.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) EPS. Equities research analysts expect that Zscaler Inc will post -0.17 earnings per share for the current year.

A number of analysts have recently commented on the stock. Cowen assumed coverage on shares of Zscaler in a report on Thursday, May 23rd. They set an “outperform” rating and a $85.00 target price on the stock. Barclays boosted their target price on shares of Zscaler from $55.00 to $80.00 and gave the company an “equal weight” rating in a report on Tuesday, May 28th. Deutsche Bank boosted their target price on shares of Zscaler from $57.00 to $76.00 and gave the company a “hold” rating in a report on Wednesday, May 29th. Wedbush restated a “buy” rating and set a $82.00 target price on shares of Zscaler in a report on Friday, May 31st. Finally, Bank of America set a $77.00 target price on shares of Zscaler and gave the company a “neutral” rating in a report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Zscaler currently has a consensus rating of “Buy” and an average price target of $72.00.

In related news, Director Karen Blasing sold 1,000 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $67.39, for a total value of $67,390.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Remo Canessa sold 110,000 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $78.19, for a total transaction of $8,600,900.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 340,571 shares of company stock worth $24,573,697. 27.40% of the stock is currently owned by company insiders.

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Zscaler Company Profile

Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.

Read More: Understanding Analyst Ratings

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Institutional Ownership by Quarter for Zscaler (NASDAQ:ZS)

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