Dynamic Advisor Solutions LLC Takes $1.59 Million Position in Zscaler, Inc. (NASDAQ:ZS)

Dynamic Advisor Solutions LLC acquired a new stake in Zscaler, Inc. (NASDAQ:ZS) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 7,987 shares of the company’s stock, valued at approximately $1,585,000.

A number of other hedge funds have also made changes to their positions in the business. AQR Capital Management LLC boosted its position in shares of Zscaler by 120.1% in the 4th 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 acquired a new stake in shares of Zscaler in the 4th quarter valued at about $87,775,000. Greenvale Capital LLP acquired a new stake in shares of Zscaler in the 4th quarter valued at about $72,164,000. Pictet Asset Management Holding SA boosted its position in shares of Zscaler by 25.8% in 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 purchasing an additional 332,307 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of Zscaler by 148.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 474,431 shares of the company’s stock valued at $94,137,000 after purchasing an additional 283,637 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ZS shares. Susquehanna upped their target price on Zscaler from $245.00 to $320.00 and gave the company a “positive” rating in a research report on Friday, May 30th. JMP Securities increased their price objective on Zscaler from $240.00 to $310.00 and gave the stock a “market outperform” rating in a research report on Friday, May 30th. Robert W. Baird increased their price objective on Zscaler from $295.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. Stifel Nicolaus increased their price objective on Zscaler from $270.00 to $295.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. Finally, Bank of America increased their price objective on Zscaler from $285.00 to $340.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. Eight analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $294.03.

Zscaler Price Performance

NASDAQ ZS opened at $305.02 on Tuesday. Zscaler, Inc. has a 1-year low of $153.45 and a 1-year high of $309.19. The company has a market capitalization of $47.49 billion, a P/E ratio of -1,220.08 and a beta of 1.09. The business has a 50 day moving average price of $243.81 and a 200 day moving average price of $213.51.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 0.75% and a negative net margin of 1.58%. Zscaler’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period last year, the business posted $0.88 EPS. On average, research analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Andrew William Fraser Brown sold 10,000 shares of Zscaler stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total value of $2,060,000.00. Following the completion of the sale, the director now owns 27,216 shares of the company’s stock, valued at $5,606,496. The trade was a 26.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ajay Mangal sold 120,000 shares of Zscaler stock in a transaction on Monday, June 9th. The shares were sold at an average price of $300.89, for a total value of $36,106,800.00. Following the completion of the sale, the insider now directly owns 2,550,210 shares of the company’s stock, valued at approximately $767,332,686.90. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 187,488 shares of company stock valued at $53,719,658. Corporate insiders own 18.10% of the company’s stock.

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.