Tredje AP fonden Cuts Position in Zscaler, Inc. (NASDAQ:ZS)

Tredje AP fonden cut its stake in Zscaler, Inc. (NASDAQ:ZS) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,540 shares of the company’s stock after selling 231 shares during the period. Tredje AP fonden’s holdings in Zscaler were worth $2,794,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of 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 shares of Zscaler during the 4th quarter worth approximately $217,683,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Zscaler by 19.9% during 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 last quarter. Norges Bank purchased a new stake in Zscaler in the 4th quarter valued at approximately $117,599,000. Finally, Bank of New York Mellon Corp grew its holdings in Zscaler by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after buying an additional 25,181 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ZS has been the subject of a number of analyst reports. Rosenblatt Securities reissued a “neutral” rating and issued a $190.00 price target on shares of Zscaler in a report on Wednesday, September 4th. Scotiabank decreased their price target on shares of Zscaler from $210.00 to $195.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, September 4th. Citigroup cut their price objective on shares of Zscaler from $270.00 to $240.00 and set a “buy” rating for the company in a research report on Wednesday, June 5th. Raymond James started coverage on shares of Zscaler in a research report on Tuesday, July 23rd. They set a “market perform” rating on the stock. Finally, Morgan Stanley boosted their price target on Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $218.39.

Insider Buying and Selling at Zscaler

In related news, insider Michael J. Rich sold 4,813 shares of Zscaler stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $824,370.64. Following the completion of the transaction, the insider now directly owns 103,259 shares in the company, valued at $17,686,201.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Michael J. Rich sold 4,813 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the transaction, the insider now directly owns 103,259 shares in the company, valued at $17,686,201.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Remo Canessa sold 8,455 shares of Zscaler stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the completion of the transaction, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. The disclosure for this sale can be found here. Insiders have sold 16,120 shares of company stock worth $2,761,034 in the last ninety days. 19.20% of the stock is owned by insiders.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $172.58 on Friday. The firm has a market cap of $26.32 billion, a price-to-earnings ratio of -338.39 and a beta of 0.82. Zscaler, Inc. has a 1 year low of $146.59 and a 1 year high of $259.61. The stock’s 50-day simple moving average is $182.33 and its 200-day simple moving average is $183.49.

Zscaler (NASDAQ:ZS) last announced its earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. During the same period in the prior year, the company posted ($0.17) EPS. Zscaler’s quarterly revenue was up 30.3% on a year-over-year basis. As a group, research analysts predict that Zscaler, Inc. will post -0.92 EPS for the current year.

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.