Stanley Laman Group Ltd. Sells 2,747 Shares of Zscaler, Inc. (NASDAQ:ZS)

Stanley Laman Group Ltd. decreased its holdings in shares of Zscaler, Inc. (NASDAQ:ZS) by 8.3% in the second quarter, HoldingsChannel reports. The fund owned 30,446 shares of the company’s stock after selling 2,747 shares during the quarter. Zscaler makes up about 0.8% of Stanley Laman Group Ltd.’s portfolio, making the stock its 28th largest holding. Stanley Laman Group Ltd.’s holdings in Zscaler were worth $5,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Zscaler by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock worth $1,726,307,000 after buying an additional 118,002 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in Zscaler in the 4th quarter worth approximately $217,683,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Zscaler by 19.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 619,293 shares of the company’s stock worth $119,294,000 after purchasing an additional 102,616 shares during the period. Norges Bank purchased a new stake in Zscaler during the 4th quarter valued at approximately $117,599,000. Finally, Westfield Capital Management Co. LP raised its position in shares of Zscaler by 19.1% during the fourth quarter. Westfield Capital Management Co. LP now owns 412,063 shares of the company’s stock valued at $91,297,000 after buying an additional 65,980 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Insider Transactions at Zscaler

In other Zscaler news, CFO Remo Canessa sold 7,981 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the transaction, the chief financial officer now owns 243,486 shares of the company’s stock, valued at $43,148,154.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 19.20% of the company’s stock.

Analyst Upgrades and Downgrades

ZS has been the subject of a number of research reports. Rosenblatt Securities restated a “neutral” rating and set a $190.00 target price on shares of Zscaler in a research report on Tuesday, May 28th. Stifel Nicolaus reduced their target price on Zscaler from $270.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Sanford C. Bernstein dropped their price target on Zscaler from $280.00 to $270.00 and set an “outperform” rating for the company in a research note on Friday, May 31st. Mizuho cut Zscaler from an “outperform” rating to a “neutral” rating and set a $220.00 price target for the company. in a report on Tuesday, July 16th. Finally, Morgan Stanley decreased their price objective on Zscaler from $214.00 to $202.00 and set an “equal weight” rating on the stock in a report on Friday, May 24th. Eight equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zscaler presently has a consensus rating of “Moderate Buy” and an average price target of $225.21.

Zscaler Price Performance

NASDAQ ZS traded up $2.56 on Friday, hitting $192.90. The company had a trading volume of 1,699,679 shares, compared to its average volume of 2,124,798. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.75 and a quick ratio of 1.75. The company’s fifty day moving average price is $185.75 and its 200-day moving average price is $193.47. The company has a market capitalization of $29.16 billion, a PE ratio of -378.24 and a beta of 0.85. Zscaler, Inc. has a 12-month low of $131.59 and a 12-month high of $259.61.

Zscaler (NASDAQ:ZS) last released its earnings results on Thursday, May 30th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.39. The business had revenue of $553.20 million during the quarter, compared to analysts’ expectations of $535.55 million. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. As a group, analysts predict that Zscaler, Inc. will post -0.32 earnings per share 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.