Los Angeles Capital Management LLC Sells 53,361 Shares of Zscaler, Inc. (NASDAQ:ZS)

Los Angeles Capital Management LLC reduced its holdings in Zscaler, Inc. (NASDAQ:ZS) by 62.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,811 shares of the company’s stock after selling 53,361 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Zscaler were worth $6,128,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. 1832 Asset Management L.P. acquired a new position in Zscaler in the 4th quarter worth $217,683,000. Norges Bank acquired a new position in shares of Zscaler during the fourth quarter worth about $117,599,000. Polar Capital Holdings Plc acquired a new position in shares of Zscaler during the third quarter worth about $61,681,000. Trivest Advisors Ltd bought a new position in shares of Zscaler during the fourth quarter worth about $72,051,000. Finally, International Assets Investment Management LLC raised its position in Zscaler by 19,012.4% in the 4th quarter. International Assets Investment Management LLC now owns 223,997 shares of the company’s stock valued at $49,629,000 after buying an additional 222,825 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ZS shares. Morgan Stanley reduced their price target on Zscaler from $214.00 to $202.00 and set an “equal weight” rating for the company in a research report on Friday, May 24th. Macquarie reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Zscaler in a research report on Tuesday, March 19th. BMO Capital Markets reissued an “outperform” rating and set a $208.00 price target on shares of Zscaler in a research report on Friday, June 14th. JMP Securities restated a “market outperform” rating and issued a $270.00 price objective on shares of Zscaler in a report on Monday. Finally, Mizuho dropped their target price on Zscaler from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Six equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Zscaler presently has an average rating of “Moderate Buy” and an average price target of $225.21.

Zscaler Price Performance

NASDAQ:ZS opened at $178.58 on Friday. Zscaler, Inc. has a 52 week low of $131.59 and a 52 week high of $259.61. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. The firm’s 50-day simple moving average is $175.73 and its 200 day simple moving average is $203.43.

Zscaler Company 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.