Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in Zscaler, Inc. (NASDAQ:ZS)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Zscaler, Inc. (NASDAQ:ZS - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 116,691 shares of the company's stock after purchasing an additional 9,689 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.08% of Zscaler worth $22,478,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in ZS. Jones Financial Companies Lllp purchased a new position in shares of Zscaler during the fourth quarter worth about $29,000. Parkside Financial Bank & Trust boosted its stake in shares of Zscaler by 582.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 157 shares of the company's stock worth $35,000 after buying an additional 134 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Zscaler during the fourth quarter worth about $37,000. Quadrant Capital Group LLC boosted its stake in shares of Zscaler by 66.7% during the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company's stock worth $39,000 after buying an additional 70 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Zscaler by 109.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 209 shares of the company's stock worth $46,000 after buying an additional 109 shares during the period. Hedge funds and other institutional investors own 46.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ZS. Citigroup decreased their target price on shares of Zscaler from $270.00 to $240.00 and set a "buy" rating for the company in a research note on Wednesday, June 5th. Wells Fargo & Company restated an "equal weight" rating and issued a $182.00 price objective (down previously from $275.00) on shares of Zscaler in a research report on Tuesday, May 28th. KeyCorp upgraded shares of Zscaler from a "sector weight" rating to an "overweight" rating and set a $220.00 price objective for the company in a research report on Thursday, April 18th. Mizuho downgraded shares of Zscaler from an "outperform" rating to a "neutral" rating and set a $220.00 price objective for the company. in a research report on Tuesday. Finally, JPMorgan Chase & Co. upgraded shares of Zscaler from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $205.00 to $230.00 in a research report on Friday, June 14th. Seven 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $225.21.

Insiders Place Their Bets

In other Zscaler news, CFO Remo Canessa sold 7,981 shares of the company's stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.21, for a total value of $1,414,313.01. Following the completion of the transaction, the chief financial officer now directly owns 243,486 shares of the company's stock, valued at approximately $43,148,154.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 19.20% of the stock is currently owned by company insiders.

Zscaler Trading Down 2.3 %

Shares of ZS traded down $4.56 during mid-day trading on Thursday, reaching $190.37. The company had a trading volume of 1,756,621 shares, compared to its average volume of 2,233,588. The stock has a market cap of $28.77 billion, a price-to-earnings ratio of -374.18 and a beta of 0.85. The firm has a fifty day simple moving average of $183.07 and a 200-day simple moving average of $200.69. Zscaler, Inc. has a fifty-two week low of $131.59 and a fifty-two week high of $259.61. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its earnings results on Thursday, May 30th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.39. The business had revenue of $553.20 million for the quarter, compared to analyst estimates of $535.55 million. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. On average, sell-side analysts anticipate that Zscaler, Inc. will post -0.34 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.

Want to see what other hedge funds are holding ZS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Zscaler, Inc. (NASDAQ:ZS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.